Cardano has just rolled out a game changer for developers, and has dubbed it as the “Dandelion API”.  SooRaj, a Cardano educator has taken Twitter to detail the structure and use cases of Dandelion API.

Introducing Dandelion API,

a set of APIs designed to simplify the process of developing decentralized applications and smart contracts on #Cardano

A tool that helps developers to access and work on #Cardano with ease and efficiency

Want to know more?

Here’s a thread🧵👇 pic.twitter.com/FhD6LUL0Mx

— Sooraj (@Soorajksaju2) February 5, 2023

The Dandelion API is made up of a handful of APIs. They are designed for the sole purpose of simplifying smart contracts and dApps development processes.

The Dandelion API is a developer’s dream. The tool will help developers on the Cardano network to work effortlessly while being more efficient, but there’s more. Sooraj noted.

Dandelion API offers 2 different paths for developers to get started : A hosted instance of every available Cardano API offered as a free community service by gimbalabs and an open-source project to deploy the community service using Kubernetes (a container orchestration tool).

Developers can immediately begin prototyping thanks to the hosted instance. And they can also use the same open-source code developed by the IOG community.

The Dandelion project is supported by the collaborative platform Gimbalabs, and gives devs access to different layers of Cardano, by providing a large pool of APIs. Devs can use the APIs for different types of dApps and light wallets.

Some of the API’s offered by Danelion are Ogmios-API, Cardano explorer-API, and Cardano GraphQL-API. Others include Cardano-rest/submit-API, Cardano-db-sync/postgrest-API, and Rosetta-API.

GraphQL-API is made so that developers can gather composed information and send signed transactions to the blockchain. Cardano explorer-API and Cardano-rest/submit-API help to aid the collection of basic information from the blockchain. Devs can collect Live blockchain info from a Cardano node instance using the Ogmios-API.

Developers can gather information directly from the blockchain and perform SQL queries, using the Cardano-db-sync/postgrest-API.

The benefits that come with using the Dandelion API is endless

The Dandelion API was made so it can be accessible to developers as a free community service. Because of this reason, the API is extremely cost effective. Sooraj added in another tweet.

Its Open-source: So, developers can access the source code, make changes, and contribute to the project. And make it even better. It gives access to a Wide Range of APIs:This allows developers to choose the API that best suits their needs.

The infrastructure is sufficient as the APIs provided to developers are easy to use. And developers can focus solely on the business side of their decentralized applications.

Eventually, the Dandelion project will enable ways for Dandelion Node operators to contribute to a network of Dandelion instances so that the Cardano API layer is as robust as Cardano itself.

Sooraj said, giving insight into the future of the project.

Der Beitrag Cardano: New innovation helps to grow ADA ecosystem in billion-$-market with ease and efficiency – Report erschien zuerst auf Crypto News Flash.

• COTI believes that this groundbreaking initiative marks a new era for stablecoins.

Cardano is expected to react heavily to the increase in activities of Decentralized Applications on its network. Today, the Ethereum competitor has received another boost as COTI, a DAG-based Layer-1 protocol and official issuer of the stablecoin, announces the launch of DJED on its mainnet. According to the company, DJED stablecoin had been in preparation, development, and security audit for over a year before its official introduction on the Cardano mainnet. COTI believes that this groundbreaking initiative marks a new era for stablecoins.

Djed is LIVE!!!https://t.co/a9CWJtT4z4

Visit https://t.co/p7eV0jd400$DJED $SHEN $COTI @InputOutputHK @Cardano@Cardano_CF pic.twitter.com/9W7au8imrr

— COTI (@COTInetwork) January 31, 2023

Having studied the market to offset the prevailing challenges, the asset has been designed as a unique proof of reserve to stabilize and protect its value amid any possible market situation. DJED has been overcollateralized by 400 percent to 800 percent. 

After over a year of preparations and development, and following a successful security audit, we are very proud to announce that Djed, the overcollateralized stablecoin on Cardano, is now live on mainnet.

The stablecoin uses SHEN as its reserve coin while backed by ADA as its base coin. It is also pegged by the US dollar. It is worth noting that the protocol will cease the burning of SHEN and the minting of new DJED if the reserve ratio goes below 400 percent. In situations where the reserve ratio goes beyond 800 percent, users would not be able to mint more SHEN. Rather, they would be allowed to mint and burn arithmetic stablecoin when the reserve ratio surpasses 800 percent. 

Cardano network receives huge boost

The arithmetic stablecoin is also expected to unlock new opportunities for the Cardano ecosystem, Payments, Decentralized Finance, etc. The project has been massively received with over entities partnering with COTI to adopt DJED. COTI and DJED can currently be accessed on Cardano-based decentralized exchanges such as WingRiders, MinSwap, and MuesliSwap. Reports also mention that Bitrue is set to be the first crypto exchange to list both SHEN and DJED. 

COTI also disclosed to be working on other projects:

We started the chain index syncing process. This process may take 14 days, and as we started the sync a week ago, we expect to complete it next week and be ready to launch. As of right now, this is the only technical bottleneck holding up the launch.

According to them, they have made an effort to stake the ADA deposited to the Djed smart contract to generate extra awards to $SHEN holders. As part of this effort, they are developing a snapshot mechanism and UI. This will be added to the djed.xyz. In this case, $SHEN holders can effectively track their rewards. 

We have added the ability to cancel an order. Users will be able to click on the “refund button” and their transaction will be canceled (as long as it hasn’t been processed).

The launch of DJED has triggered excitement among the Cardano communities as they expect this to boost Defi activities on the network. 

ADA has reacted to this announcement with a 2.8 percent surge in the last 24 hours. The asset is currently trading at $0.39.

Der Beitrag Cardano is up 5% as stablecoin DJed finally goes live on mainnet – What you need to know erschien zuerst auf Crypto News Flash.

Cardano’s decentralized stablecoin Djed is all set and scheduled to launch this week. Djed developer, COTI Network has stated that the launch shall happen in partnership with Liqwid finance, a platform that offers decentralized interest rate curves for borrowing and lending on the Cardano blockchain network.

Launching this week on Cardano: Djed stable coin (@COTInetwork) and @liqwidfinance. Gonna be a big week pic.twitter.com/iNzpzLW1NC

— ADA whale (@cardano_whale) January 29, 2023

The launch of the decentralized Djed stablecoin could prove to be a pathbreaker for the Cardano ecosystem as it will cater to the rapidly emerging decentralized finance (DeFi) market on the Cardano blockchain. For the listing of Djed, the COTI Network has partnered up with several market players.

In a blog post earlier today, COTI shared further details regarding the economics of Djed and the delegation rewards. In addition to powering Djed, COTI’s role will also involve other aspects such as Business Development, managing UI for the platform djed.xyz, as well as in smart contract deployment.

We are happy to share that Djed 1.1.1 will include delegation rewards for $SHEN holders starting from day one! In this update we explained Djed’s economics and delegation process.

Read all about it: https://t.co/Q9rNRCrxL4$DJED $COTI @Cardano pic.twitter.com/11LRFldr11

— COTI (@COTInetwork) January 29, 2023

One of the key components of Djed’s structure is its reserve ratio. This shows that total ADA coins are held in reserves to collateralize and maintain the stability of Djed stablecoins. COTI calls the Djed stablecoin to be overcollateralized and thus will maintain the optimum range of the reserve ratio to 400-800 percentages. This reserve ratio comes considering the price volatility for ADA coins across different market cycles.

Djed’s fee structure, delegation rewards, and DEX’s support

The Djed protocol seeks to keep the best interest of both – $SHEN and $DJED holders. SHEN is the governance token of the decentralized Djed stablecoin protocol. Similar to other big stablecoin minting platforms, Djed’s platform will facilitate int-burn transactions in high amounts instead of microtransactions.

The minimum Djed minting amount will be 5,000 $DJED and the minimum Djed burning amount will be 1000 $DJED. As a result, the Djed mint-burn fee will be at 1.5 percent. Similarly, the minimum SHEN minting amount will be 5,000 $SHEN and the minimum SHEN burning amount will be 2,500 $SHEN. SHEN’s minimum pricing has been set to 1 ADA to ensure that it’s always redeemable for $ADA.

The blog post further adds:

All the minting and burning fees for $DJED and $SHEN collected on the platform will be allocated to $SHEN holders and reflected in $SHEN’s price, resulting in an increase in its value.

Starting from the very first day, Djed 1.1.1 will include delegation rewards for $SHEN holders. For the $SHEN holders to earn the delegation rewards, the COTI network has been working to enable the ADA reserves, on the Djed smart contract.

Upon launch, decentralized exchanges (DEX) MuesliSwap and MinSwap will support the Djed stablecoin and the SHEN governance token. Miniswap is currently the largest Cardano DEX with $30 million tokens. Both the DEXs plan to offer annualized yield rewards for the Djed token. Due to its overcollateralized mechanism, Djed will attract liquidity and interest from investors which will benefit the entire Defi market on Cardano. Speaking to CoinDesk, a MuesliSwap developer said:

We are going to launch concentrated liquidity pools similar to UniSwap [version 3]next week with the Djed launch so we expect that the trading APR itself will already be above 10% as capital can be used more efficiently. We are aiming for at least a 10%-15% farming APR for both the pairs ADA/$DJED and ADA/$SHEN. So, in total, we are aiming to be above 20-25% APR in the first month to attract liquidity.

Der Beitrag Djed stablecoin and Liqwid Finance to launch this week – Is ADA poised to rally? erschien zuerst auf Crypto News Flash.

Cardano’s next upgrade will tentatively take place on February 14, 2023. The hard-fork is said to bring new built-in functions to Plutus, the smart contract programming language for the Cardano blockchain. This new upgrade will bring support to ECDSA and Schnorr cryptographic signatures to make it easier for developers to build cross-chain apps.

There will be another hard-fork event in February. CIP-0049 will increase #Cardano's interoperability with #Bitcoin, #Ethereum, and other blockchains. Plutus developers can write an application that can verify ECDSA and Schnorr cryptographic signatures.

— Cardano YODA (@JaromirTesar) January 26, 2023

The two cryptographic signature techniques, ECDSA and Schnorr signatures, are employed by multiple blockchains. Among which are the Bitcoin and Ethereum blockchains.

However, Cardano utilizes the fast, safe, and compact Edwards-curve Digital Signature Algorithm (EdDSA). But, this signature is incompatible with ECDSA and Schnorr signatures.

The Cardano upgrade will make it simpler for developers to collaborate with other blockchains by enhancing interoperability and enabling secure cross-chain DApp development.

The ECDSA and Schnorr signatures will be supported by the brand-new built-in features that Plutus will offer. Enabling simplicity for programmers to create cross-chain apps and ensuring the highest level of security.

The entire Cardano ecosystem has been making preparations for some time, with successful integration testing.

With more than 80% of block-producing nodes running the necessary new node, this technology is almost ready to be implemented on the Cardano mainnet. The incoming modification has already been communicated to exchanges, and developers of DApps have been surveyed to assure compatibility. The update is anticipated to occur on February 14, 2023.

Cardano community foundation will keep the community informed on new developments prior to the tentative date. You can follow the Cardano CF channels for the most recent information.

How will ADA react to the Upgrade?

ADA is the native token for the Cardano ecosystem. It’s a reflection of the economic activities, perception, acceptance, and valuation of Cardano’s ecosystem. ADA as a token is highly influenced by fundamentals, of which the upcoming hard-fork is a part.

Cardano had its major Vasil hard-fork in September 2022. Amidst the bullish expectations of investors and traders to “sell the news,” ADA plummeted rather than appreciated. It dropped by 9.5% a few days after the successful upgrade. It was further hurt by the Fed news trading at $0.43 at the time.

Whether ADA will react positively is unknown, but the upgrade brings a lot of positive changes to the Cardano ecosystem.

As of now, market sentiment towards Cardano’s CIP-0049 sends a strong bullish bias. The interoperability and ease of development it adds to Plutus, Cardano’s smart contract programming language, is a major upgrade. Cardano is doing everything it can to preserve the long-term value and utility of its blockchain and token.

Der Beitrag Cardano hard fork will increase interoperability with Bitcoin, Ethereum and others – Will ADA price react? erschien zuerst auf Crypto News Flash.

The Cardano (ADA) network has received a huge boost after World Mobile and Input Output Global (IOG) announced a partnership to fully integrate the purpose-built World Mobile Chain using Tendermint as a Cardano sidechain. According to the announcement, the two entities will bridge a permission solution built on Cosmos’ SDK through Cardano’s public mainnet. As a result, the Cosmos and Cardano network will enjoy a scalable interoperability network to build Web3 protocols.

Notably, Input-Output Global recently released an update on the ongoing sidechain project. The Cardano-based sidechain project is designed to usher in a new era of scalability for blockchains.

“World Mobile needed a permissioned sidechain to meet the requirements of a regulated telecommunications industry. Since such a solution doesn’t yet exist within the Cardano ecosystem, we decided we’d look at how we would be able to achieve this. ….,” Micky Watkins, CEO of World Mobile Group, noted.

Reportedly, the two companies, World Mobile and Input Output Global, have been working together for the past three years to bridge the digital divide using the Cardano blockchain.

OFFICIAL: #WorldMobile and @InputOutputHK Sidechain Announcement

Read more: https://t.co/x1pqHItil9@cosmossdk $WMT #CardanoCommunity #DeWi pic.twitter.com/tgXdG4D20J

— World Mobile (@WorldMobileTeam) January 26, 2023

Accountability in sidechains has been identified as a key factor in scaling the interoperability of different blockchains that seek to attract more DeFi developers. Romain Pellerin, CTO of IOG, noted;

…..By working with World Mobile toward integrating with Tendermint, Cardano facilitates greater inclusion in the internet of blockchains. Cardano’s extensive offerings—everything from its core infrastructure to its enhanced security measures, to a vibrant community that drives Cardano’s future—empower these new chains to bootstrap and secure new use cases from day one,

Cardano (ADA ) market outlook

The Cardano network has grown to a world-reputable smart contract blockchain. However, the 2022 bear market has significantly slashed cash inflow to the ADA market as shown by the total value locked (TVL). According to market data provided by Coinglass, the Cardano network has a total value locked of about $75 million. Notably, the total value locked in the Cardano network a year ago was about $326 million.

Nonetheless, the Cardano developers have been hard at work as identified by GitHub commits. 

🧑‍💻 Top 10 #crypto assets by development activity: notable #github commits, past 30 days:

1) #Polkadot $DOT
2) #Kusama $KSM
3) #Cardano $ADA
4) #Decentraland $MANA
5) #Status $SNT
6) #Cosmos $ATOM
7) #Filecoin $FIL
8) #InternetComputer $ICP
9) #Ethereum $ETH
10) #Concordium $CCD pic.twitter.com/lwqDix1K6V

— Santiment (@santimentfeed) January 24, 2023

Trading at about  $0.379528 today, ADA price has gained approximately 45 percent in the past 30 days. Nonetheless, the rally seems to be out of fuel with on-chain data suggesting an imminent price reversal. 

🤏 With large caps like #Solana, #Cardano, & #Polkadot drawing impressive return headlines the first 3 weeks of January, money now appears to be cycling to small caps. Active addresses are up big for $CBG, $MITX, $MTH, $TRADE, $PLSPAD, $RBN, $SLP, & $POND. https://t.co/VEJcMMgS6W pic.twitter.com/kujs1Px4al

— Santiment (@santimentfeed) January 24, 2023

The daily RSI shows a falling divergence, which signifies a price reversal on a rising market. As such, the Cardano bulls have a long run to reclaim the ATH of about $3.09.

Der Beitrag Big News: Cardano gets a new sidechain with Cosmos and IOG’s new interoperability partnership with World Mobile erschien zuerst auf Crypto News Flash.

• While the crypto is witnessing a bull dominating markets, some DApps on the Cardano network have been tipped to help drive the price of ADA to the top when adoption gains steam. 

It was reported late last year that the Decentralized Applications (DApps) on the Cardano network had seen a surge in unique account growth. Indigo Protocol topped the list with a surge of 62,109 percent in unique accounts. Earlier this month, DApps on the Cardano chain recorded an incredible milestone completing up to 16 million transactions. 

As of January 4, the number of unique accounts on all DApps surged to around 255K. While the crypto market is witnessing a bull dominating markets, some DApps on the Cardano network have been tipped to help drive the price of ADA to the top when adoption gains steam.

Top #Cardano Dappshttps://t.co/eoyIWJd5tb pic.twitter.com/lsvmlV70Bb

— Darren ☘🇮🇪 (@CryptoIRELAND1) January 26, 2023

DApps on Cardano that can trigger a bull run

The first DApp that could act as a catalyst for ADA’s price surge is JPG Store. According to DappRadder, this is the highest-ranked project on the Cardano network. JPG Store has recorded a $12.37 million transaction volume in the last 30 days. Within the same period, 830K transactions have been facilitated and have $738K in total fiat value of assets in a DApp’s smart contract. It has 29.73K unique active wallets interacting or performing transactions with DApp’s smart contract. 

It describes itself as a Cardano Non-Fungible Token (NFT) marketplace that allows users to buy and sell Cardano NFTs, makes offers, etc. 

JPG store is a Cardano NFT marketplace that allows you to discover artwork, support creators, and join communities on a decentralized blockchain.

The marketplace has a launchpad and a minting feature that provide support for artists in the Cardano community and assist them to turn their art into an NFT. 

Labs by Mutants and Minswap

Labs by Mutants is another project that could help drive the price of ADA up. On the DappRader rankings, it is the second on the list with a total transaction volume of $729K in the last 30 days. Within the same period, 202K transactions have been facilitated. Its total fiat value of assets in a DApp’s smart contract is $28K. It also has 8.28K of unique active wallets. 

Labs by Mutants exist as the next-generation platform for NFT holders and creators. It describes itself as the best staking and raffle service for NFTs on Cardano. 

The third DApp on the Cardano network expected to drive the price of ADA is Minswap. This project is a decentralized exchange on Cardano that enables users to trade their tokens. Users can do all of these from their mobile with the MinWallet. 

Provide Liquidity or Zap to earn trade fees. – MIN Farms and Double Farms: Stake your tokens on Minswap’s Farms to get rewards. – Portfolio : Keeping track of all of your liquidity.

– Launch Bowl: Get exclusive access to farm new tokens by being a liquidity provider!

Minswap is ranked third by DappRader with a total volume of $82.74 million in the last 30 days. Within the same period, 394K transactions have been processed with $39.62 million total fiat value of assets in a DApp’s smart contract. It has 16.73K of unique active wallets. 

Many crypto influencers have predicted that ADA could hit $1 in the first half of 2023, and could be largely triggered by the activities on the Cardano network. ADA is currently trading at $0.37. 

Der Beitrag These Dapps could drive price when adoption gains steam – ADA poised to reach $1 erschien zuerst auf Crypto News Flash.

When it comes to staking Cardano (ADA), one of the most important decisions you’ll make is choosing which stake pool to delegate your ADA to. With a plethora of stakepools to choose from, selecting the right one for your Cardano staking can be daunting. In this article, we’ll take a look at some key factors to consider when evaluating a stake pool to ensure you make the best decision for your ADA.

Introduction

Staking Cardano is a way to support the network and earn rewards for doing so. When you delegate your ADA to a stake pool, you’re helping to secure the network and are eligible to receive a share of the rewards earned by the pool. But not all pools are created equal – some may offer higher returns than others, while others may prioritize decentralization or other factors. It’s essential to carefully evaluate different stake pools before delegating your ADA to make the most of your investment.

Evaluating Performance

One of the most important factors to consider when evaluating a stake pool is its performance. Look at the pool’s historical performance, including the percentage of blocks it has been chosen to validate and the overall return on investment for delegators. This information can usually be found on the pool’s website or on a Cardano explorer. A pool with a high percentage of blocks validated and a high return on investment for delegators is an indication of a high-performing pool.

Evaluating Pool Size

The size of a stakepool can affect the amount of rewards you earn as a delegator. While larger pools may have a higher chance of being selected to create new blocks, they also tend to have more delegators, which means the rewards will be spread out among more people, potentially resulting in smaller individual rewards. In Cardano, this called saturated pools.

On the other hand, smaller pools may have a smaller chance of being chosen to validate blocks, but the rewards earned by the pool will be divided among fewer delegators, potentially resulting in higher rewards per individual. These pools called unsaturated pools. In general, choosing pool which has under 60 million ADA is still the best option.

It’s important to note that this is not a guarantee and it’s subject to the pool’s performance and other factors. Evaluating the size of a pool is just one aspect to consider when choosing a stakepool. It’s essential to consider the pool’s performance, fees, decentralization and reputation, to weigh the trade-off between more consistent rewards and potentially higher individual returns.

Evaluating Fees

Another crucial aspect to keep in mind when evaluating a stakepool is the cost associated with delegating to that pool. It’s essential to consider the pool’s fees and compare them to other pools to ensure you’re not overpaying. Cardano stake pools charge a small fee, usually around 2-3%, to cover operating costs and help fund development. While it’s normal for pools to charge a fee, be sure to compare fees across different pools to ensure you’re not overpaying. A pool with lower fees can mean a higher return on investment for delegators.

It’s also worth noting that some pools may have additional features or services that justify a higher fee, such as higher pledge and enterprise-grade infrastructure. In such cases, it’s important to weigh the value of these additional features against the cost of the higher fees.

Evaluating Reputation and Track Record

Finally, it’s worth considering the pool’s overall reputation and track record. Look for pools that have been around for a while and have a good reputation within the Cardano community. Some pools may have a history of missed blocks or other issues that could negatively impact your returns.

A pool’s reputation and track record can be a good indicator of its reliability and consistency. It’s also important to check if the pool’s operator is transparent, responsive to delegator’s questions and concerns, and committed to the long-term success of the pool. It might also be noted, there is a stake pool called Cardanesia that is worth checking out and delegating to.

Additionally, it’s worth checking if the pool’s operator is active in the Cardano community and contributing to the development of the network. This can be an indication of their commitment to the project and their understanding of the technology.

Conclusion

In summary, staking Cardano allows one to earn rewards while also contributing to the security and decentralization of the network. But it’s important to do your research and carefully evaluate different stake pools before delegating your ADA. By considering factors like performance, fees, pool size, reputation, decentralization, and track record, you can be confident that you’re making the best decision for your ADA. Remember, staking Cardano is worth it, but you should always choose the right pool before delegating your ADA. Make sure to weigh the trade-offs and align your choice with your personal goals and preferences.

When choosing a stakepool, it’s important to consider more than just the expected return on investment. The reputation and track record of a pool are also important factors that contribute to the overall security and performance of the network. By taking the time to carefully evaluate different pools and consider all these factors, you can make an informed decision that maximizes your returns and supports the long-term success of the Cardano network.

Der Beitrag Evaluating the Best Cardano Stakepools: A Guide to Maximizing Your Returns erschien zuerst auf Crypto News Flash.

The launch of Cardano native decentralized stablecoin Djed is pretty close and could happen as early as next week as per the latest market report. Djed developer, COTI Network, made the announcement for the same on Tuesday, January 24.

The launch of the Djed stablecoin comes with the expectations of driving growth and introducing new use cases in the emerging decentralized finance (DeFi) space of the Cardano ecosystem. Besides, the COTI Network is also partnering with different players for the listing of $DJED. For e.g. crypto exchange Bitrue has announced that it will be listing Djed upon launch.

We are pleased to share another update about Djed's progress and to inform you that the launch is scheduled for next week!

Read more: https://t.co/7kPjfGMNmk$DJED $COTI @InputOutputHK @Cardano pic.twitter.com/mHA5KVblay

— COTI (@COTInetwork) January 24, 2023

Shahaf Bar-Geffen, the COTI network’s CEO, informed users to get ready for some more exciting news coming their way in the coming days. Further explaining some of the technological developments of Djed, the COTI Network stated that they have already started the process of syncing the chain index. The official blog post notes:

We started the chain index syncing process. This process may take 14 days, and as we started the sync a week ago, we expect to complete it next week and be ready to launch. As of right now, this is the only technical bottleneck holding up the launch.

More about Djed and ADA staking

Djed is a decentralized overcollateralized stablecoin built to power up the Cardano ecosystem. Cardano introduced its Djed stablecoin for the first time in 2021 as the COTI Network collaborated with the Cardano Input Output (IOG) team for building this stablecoin.

The larger role of Djed will be to cater to the decentralized finance (DeFi) ecosystem on the Cardano blockchain which is currently taking shape. The decentralized Djed stablecoin will play a key role in implementing strategies at low fees.

On the other hand, the Djed stablecoin has been designed in a way that ensures price stability via the reserves in ADA. Initially, the Cardano team referred to it as the algorithmic stablecoin, however, they dropped using this convention considering all the negative sentiment built around the algorithmic stablecoins with the collapse of the Terra ecosystem last year.

The COTI Network referees to Djed as an overcollateralized stablecoin having its coverage in ADA to four times the Djed issued. Now, the COTI team is working on a snapshot mechanism for tracking additional rewards by the staking of ADA in Djed smart contracts. They stated:

As part of our effort to stake the ADA that is deposited to the Djed smart contract and generate extra rewards for $SHEN holders, we are developing a snapshot mechanism and UI that will be added to djed.xyz, where $SHEN holders will be able to track these extra rewards.

Can Djed Boost ADA Price?

If the Djed concept works out successfully, it can provide a huge boost to the Cardano ecosystem. However, for this to happen, Djed should first pass the field test. On the other hand, Cardano needs to take care of all the factors that led to the collapse of Terra’s UST stablecoin.

Currently, Cardano’s native cryptocurrency ADA is trading at a price of $0.35 with a market cap of $12.4 billion. It also continues to maintain its position in the top ten crypto list.

Der Beitrag Cardano: Launch of stablecoin Djed is scheduled for next week – What investors can expect for the ADA price erschien zuerst auf Crypto News Flash.

The Cardano ecosystem has showcased why it remains one of the top contenders as the Ethereum killer with its recently published ecosystem statistics. According to data from Input Output Hong Kong, the company behind the development of the Cardano protocol, a total of 112 projects have launched on the blockchain network with 1,181 projects actually building on the protocol at the moment.

Cardano is a Proof-of-Stake (PoS) blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The core development team has been working hard to make the protocol a ready one for anyone willing to come to build decentralized applications with utilities and use cases that can benefit everyone.

Thus far, Cardano is living up to its potential, and per the update shared by IOHK, the protocol recorded a total of 59.4 million total transactions for the week. Overall, there were a total of 7.59 million native token transactions with 68,641 token policies recorded across the board.

Every Friday, we publish our weekly #Cardano development update. So for the lowdown on what IOG's dev team has been working on last week, head on over and take a look👇https://t.co/ZHjJ83Vv86

— Input Output (@InputOutputHK) January 20, 2023

Cardano was founded back in 2017 and Charles Hoskinson has been leading the core team to focus on building a resilient platform that can beat its competitors with its massive scalability. The protocol opened the floodgates for smart contracts when it launched the Alonzo Hardfork back in September 2021. 

Since then, a number of prominent applications have gone live on Cardano, showcasing how it can easily be integrated by both Web2 and Web3-focused innovators. As part of the weekly update shared by IOHK, some important updates including Daedalus v.5.2.0 and Mithril 2302.0 distribution have also been released.

Cardano (ADA) price amidst this ecosystem growth

It is uncommon to find the price of Cardano’s native token (ADA) soar in line with updates from the protocol. User sentiments are often pricked when there is a clear showcase of how the utility of the digital currency will increase over the long term.

Token growth is a function of how well users buy the cryptocurrency, and this only happens when there is a good number of platforms that require ADA for one function or the other. From its use as payment for minting digital collectibles to payment of gas fees, the more protocols are in operation on the Cardano blockchain, the more users can get access to utilize the cryptocurrency.

At the time of writing, ADA is changing hands at $0.3708, up 9.95 percent over the past 24 hours according to data from MarketCap. Cardano has maintained an impressive growth run over the past course of the month, as showcased in its more than 32% growth rate over the past 2 weeks.

With the growing number of real-world uses making their way to the Cardano ecosystem, ADA is on track to retry its previous highs in the near term. With the recent emergence of eTukTuk, an Electric Vehicle startup that is built on Cardano and the upcoming Djed stablecoin, the protocol has enough fundamentals to support its brewing growth.

Der Beitrag Cardano: 1,189 projects, 59,4M transactions, 7,59M native tokens – The future looks bright for ADA erschien zuerst auf Crypto News Flash.

Cardano has unveiled one of the most significant projects of its network. At the World Economic Forum in Davos, Cardano revealed its first automotive project centered around elective vehicles.

The project is the first of its kind on any Blockchain platform. Dubbed “eTukTuks”, the project will begin initial operations in Sri Lanka in Southen Asia. The project is set to go into full effect in the near future, with the help of local government ossicles and other key industry partners.

One of eTukTuk’s goals is to cut down on the 1,200,000 internal combustion engines (ICE) that are functioning in the country. Drivers are also expected to see a 400% rise in their earning power.

BREAKING📢: The World’s First Automotive Project Built on Cardano.

The project was Announced this afternoon at the World Economic Forum in Davos. @wef 🤯

More info in this thread🧵👇#Cardano $ADA @eTukTukio pic.twitter.com/8zW3MqbusW

— Yevhen |👾| DeFiYield.app (@Yevhen_ADA) January 18, 2023

The project, amongst many other use cases, will allow network participants such as drivers and even passengers to earn rewards. As Electric vehicle firms prioritize sustainability and discard use of fossil fuel, the Cardano network will pioneer this transition by increasing its number of proprietary EVs and charging stations.

The project remains of significant value, as it follows the failed attempts to launch two and three-wheeler electric vehicles (EVs), which lacked the charging infrastructure needed to facilitate the switch.

Her Worship Rosy Senanayake, the Mayor of Colombo, reckons that the project is valuable for Colombo and the Sri Lankan economy.

“eTukTuk’s solution has the ability to drive economic change throughout Colombo and indeed, Sri Lanka. The current TukTuk drivers are in need of the affordable and sustainable solution that eTukTuk provides, one that places their take-home pay, safety, and the environment at the forefront of their plans.” She asserts.

How will ADA react to the integration of eTukTuk?

For the most part, the new project holds bullish possibilities for the already ADA token, which is among the number of altcoins with a significant price upswing at this time.

With the eTukTuk protocol being backed by the TUK token, ADA is primed to go green, as users willing to partake in the utilization of eTukTuk transportation offer, must hold ADA tokens.

This might result in the influx of new ADA users, while the existing ADA users might move towards increasing their ADA holdings.

At report time, ADA trades at $0.33, after maintaining an upward trend this week. Recall that ADA also recently towered rival altcoin Doge. During the peak of last week’s altcoin rally, ADA recorded a massive surge in prices.

The surge resulted in its return as the 9th most valued asset by market cap, while Dogecoin moved downwards, to the 9th position.

Der Beitrag Cardano’s world first electric car project to support billions of people worldwide and protect climate – Report erschien zuerst auf Crypto News Flash.