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Cardano co-founder and CEO of IOHK, Charles Hoskinson has tabled a partnership deal before Litecoin creator and a formal Coinbase employee, Charlie Lee.
The CEO of IOHK and Ethereum co-founder said he would love to partner with Litecoin on testing cross-chain communication between Cardano and Litecoin network. Interestingly, Litecoin co-founder is also interested in a worthwhile deal.
Charlie Lee and Charles Hoskinson have not collaborated on anything before, but there seems to be a signal the two founders are working together on the betterment of the cryptocurrency industry.
Hoskinson said he the Cardano community has got a lot of ideas that can be adopted and collaboratively achieved by the two networks.
Partnership is a big thing in the cryptocurrency industry. Every project seeks collaborations from different industries to increase adoption.
Cross Chain is Crypto’s Next Big Thing
Cross chain ideas are being touted as the crypto industry’s next big thing. Recently, there was widespread information in the space that more than 10,000 BTCs are now on the Ethereum network. The noble idea of DeFi in the crypto world is bringing unimaginable benefits.
At the moment 72% of BTC on the Ethereum network is wrapped in Bitcoin (WBTC), with the larger percentage coming from RenBTC, which recently jumped to 926 RenBTC from 125 RenBTC.
ZCash and Bitcoin Cash can also be acquired on the Ethereum Network using Ren Virtual Machine (RenVm).
Can Partnership between Litecoin and Cardano be Fruitful?
The partnership between Litecoin and Cardano, if finally sealed, has every reason to be successful. The same had happened between Litecoin and TokenPay after the two first disagreed on Verge Foundation’s crowdfunding that was largely shouldered and supported by TokenPay team members.
The crowdfunding resulted in Verge (XVG) bringing PornHub and some other adult education sites into the crypto world.
The partnership ended in a very intense altercation between Litecoin’s Charlie Lee and Token Pay CEO Derek Capo to the extent that Charlie warned Pornhub to shun Verge and accept cryptos like “BTC, LTC, and XMR.”
Charlie was certain that the partnership was induced with money and had nothing really important to add to the cryptocurrency world, as he thinks Pornhub would have done a good thing by adopting “more than just Verge.”
Although Charlie later agreed that the collaboration was a step forward, however, adopting only Verge (XVG) was the problem.
After the discord between Charlie and TokenPay’s Derek Capo, the two co-founders agreed to collaborate on an undisclosed matter.
Litecoin Acquired Stakes in WEB Bank
The collaboration that first started on Twitter made Litecoin got a stake in WEG Bank, Germany, in July 2018. TokenPay transferred its 9.9% stake in WEG Bank to Litecoin and the latter offered to provide state-of-the-art technology services and marketing to TokenPay in return.
The statement by TokenPay showed that Litecoin will help work on eFin Decentralized Exchange, TPAY crypto, TokenSuisse Asset Management, WEG Bank FinTech Platform, Multisignature Transaction Engine, and a host of other.