completed
Algorand - Cardano DeFi bridge
Current Project Status
complete
Total
amount
Received
$7,800
Total
amount
Requested
$7,800
Total
Percentage
Received
100.00%
$7,800 Received out of $7,800
Solution
Problem
Addresses Challenge
Feasibility
Auditability

Team

1 member

This proposal was approved and funded by the Cardano Community via Project F6: Scale-UP Cardano's DeFi Ecosystem Catalyst funding round.

Detailed Plan

Many times Charles Hoskinson called Silvio Micali the most clever cryptographer in the industry. Definitely, Algorand is one of the most interesting and promising blockchains with Pure Proof-of-stake and cheap transactions. There are things both Algorand and Cardan can learn from each other.

At the moment, the biggest use of Algorand-Cardano bridge might be in DeFi space. Smart-contracts are coming to Cardano, but with the recent price raise transactions in Cardano are already expensive (especially if we consider the necessity to do many micro-transactions, move NFTs and native assets, tokens which at the beginning have 0 prices)

If such a bridge will be implemented, Cardano can profit from the low transaction fees in the Algorand, and both Cardano and Algorand can profit from bigger interoperability, dapps, future possible cooperation, etc.

For this particular proposal, we propose to conduct R&D (Research and development) on the possibility and best ways to create such a bridge. All work will be published as open-source and shared with Cardano community (on forum, reddit) and crypto-blogs

There will be two Senior developers, one with the focused knowledge in Cardano, another one - in Algorand

Expenses:

1 Senior Cardano developer - $3500

1 Senior Algorand developer - $3500

Project manager - $800

Community Reviews (1)

Comments

Monthly Reports

Work complete, report submitted

Disbursed to Date
$7,800
Status
Complete
Completion Target
1. In the next month
Attachment(s)
Comments 0

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Playlist

  • EP2: epoch_length

    Authored by: Darlington Kofa

    3m 24s
    Darlington Kofa
  • EP1: 'd' parameter

    Authored by: Darlington Kofa

    4m 3s
    Darlington Kofa
  • EP3: key_deposit

    Authored by: Darlington Kofa

    3m 48s
    Darlington Kofa
  • EP4: epoch_no

    Authored by: Darlington Kofa

    2m 16s
    Darlington Kofa
  • EP5: max_block_size

    Authored by: Darlington Kofa

    3m 14s
    Darlington Kofa
  • EP6: pool_deposit

    Authored by: Darlington Kofa

    3m 19s
    Darlington Kofa
  • EP7: max_tx_size

    Authored by: Darlington Kofa

    4m 59s
    Darlington Kofa
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