COTI Announces Succesful Hard Fork for Multi-Token Network Expansion
Coti's MultiDAG 2.0 public mainnet went live on Thursday.
Cardano is a public blockchain working under the Ouroboros Proof-of-Stake algorithm. It’s touted to be the first one to have been founded on peer-reviewed research. It was founded by Charles Hoskinson – a mathematician who also co-founded Ethereum.
Cardano is also developing a smart contract platform that is supposed to deliver more advanced features than its competitors. It should serve as a stable and secure platform for developers to create enterprise-level decentralized applications (dApps).
Cardano was primarily initiated as a two-layer protocol that separates the ledger of the accounted figures from the reason for which these figures are passed from different accounts.
This distinct separation lets the smart contracts (still to be deployed) on the platform be more compliant.
Cardano works through the Ouroboros Proof of Stake (PoS) algorithm. The core innovation that Ouroboros introduces beyond security is a modular and flexible design that enables the composition of many protocols to enhance the overall network functionality.
ADA is the native token of Cardano. Interestingly, it’s named after Ada Lovelace – a 19th-century mathematician who is recognized as the very first computer programmer, also the daughter of the poet Lord Byron.
Every ADA holder also holds a stake in the network. Token holders can also delegate their tokens into a staking pool and earn rewards and participate in the governance of the blockchain.
Going forward, once Cardano’s smart contracts are live, ADA should also be usable for a variety of applications and services.
It has become one of the world’s largest cryptocurrencies, with a total supply of 45 billion.
In 2021, Cardano moved closer to integrating smart contracts on its network and continued with the new developments, in general.
On March 1st, the team launched the Mary update. It introduced core Goguen features of native token functionality and multi-asset support. On the other hand, Goguen is a major upgrade stage on the Cardano roadmap that introduces smart contracts and also the ability to build decentralized applications.
Coti's MultiDAG 2.0 public mainnet went live on Thursday.
Development activity on Cosmos has seen a notable increase on GitHub.
The stablecoin will be backed and overcollateralized using solely cryptocurrency, including ADA and SHEN – the smart contract’s reserve token.Â
According to Charles Hoskinson, FTX's meltdown could indicate the bottom of the ongoing crypto winter.
The MVRV Z-Score of ADA reached an interesting level suggesting it could be undervalued.Â
Crypto-focused phishing attacks have made their way to Apple's App Store.Â
Charles Hoskinson said the corruption discussion within the SEC is a completely separate matter and should be treated as such.Â
Among major exchanges, Kraken, Coinbase's support was still pending.Â
The long-anticipated update went live hours ago, promising performance and capability improvements.
Cardano's Vasil hard fork is scheduled to take place tomorrow - September 22nd. Here's what you need to know.