Cardano Acquisition of Infinity Blockchain Precedes Deployment of SundaeSwap Mainnet
EMURGO, Cardano blockchain’s commercial arm, has announced plans to acquire Infinity Blockchain Group business units (IBG) in a bid to expand Cardano’s interoperability. SundaeSwap, a Cardano-based decentralized exchange, recently announced the completion of its security audit by Runtime Verification (RV). It is now in the process of fixing various inefficiencies ahead of its mainnet debut.
Infinity Blockchain Labs (IBG) has been engaged in the development of Cardano-based solutions and services since 2015. The blockchain R&D company is well versed in proof of stake (PoS) and inter-blockchain interoperability, having contributed to the development from Moonstake, one of the leading blockchain staking providers in Asia.
The acquisition aims to strengthen EMURGO’s strategic resources and accelerate research into the interoperability of Cardano with other known blockchains.
Interoperability remains at the forefront of Cardano’s mission
Interoperability has been one of Cardano’s core value propositions since its inception. Cardano’s long-term goal is to create a blockchain-based, decentralized data platform that is scalable enough to handle large amounts of user data and capable of integrating with other blockchains.
Along these lines, Cardano is part of the UTXO alliance, an initiative created to kickstart collaboration with individuals and organizations working to make the UTXO model more scalable, secure and interoperable.
In September, SundaeSwap entered into a strategic partnership with Nervos Blockchain as a step forward towards interoperability between the Nervos and Cardano chains.
Earlier in December, Cardano marked the launch of its first-ever ERC-20 converter. With the converter, the community will have the ability to enhance the migration of ERC-20 tokens from Ethereum to the Cardano blockchain, thus supporting interoperability.
