Massive Partnership for Cardano (ADA) Proposed by Charles Hoskinson
Charles Hoskinson urged Kraken to join hands with Cardano in its efforts to introduce a layer-2 blockchain network.
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.
Charles Hoskinson urged Kraken to join hands with Cardano in its efforts to introduce a layer-2 blockchain network.
Tenev’s plan was announced in Robinhood’s quarterly earnings report.
ADA has surpassed BTC and ETH in terms of development activity in the past month.
ADA was forecasted to reach $0.45, $10, or even $30 by different cryptocurrency analysts.
ADA's price increase coincided with some bullish factors such as increased whales transactions and rising address activity.
X user Lucid forecasted that ADA might spike by the ridiculous 1,000% within the decade.
Cardano has managed to surge ahead with remarkable developer activity in September.
Cardano-based Minswap witnessed first major spikes after four months of hitting peaks.
Solana, Cardano, and XRP have bucked the prevailing market conditions and, in contrast, have garnered inflows.
Cardano is witnesseing a growth in user engagement and interest in the protocol.