The next hard-fork combinator event is planned for February 2023. This is another upgrade of the Cardano network which will bring several new improvements (CIPs). In this article, we will discuss CIP-0049. It proposes two new Plutus built-in functions for ECDSA and Schnorr signature verifications. The CIP is aimed to bring Plutus interoperability with other blockchains like Bitcoin, EVM sidechains, etc.
- To increase the interoperability of blockchains, they need to understand each other at the cryptographic level.
- Bitcoin uses Schnorr signatures, Ethereum ECDSA, and Cardano EdDSA.
- Plutus developers will be able to verify Schnorr and ECDSA signatures and will be able to use these cryptographic algorithms in their apps.