Mithril

Cardano

Hydra

Djed

Revolution

<div class="group w-full text-gray-800 dark:text-gray-100 border-b border-black/10 dark:border-gray-900/50 bg-gray-50 dark:bg-[#444654]">
<div class="flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-xl xl:max-w-3xl md:py-6 lg:px-0 m-auto">
<div class="relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]">
<div class="flex flex-grow flex-col gap-3">
<div class="min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words">
<div class="markdown prose w-full break-words dark:prose-invert light">
<ul>
<li style="list-style-type: none;">
<ul>
<li><strong>Cardano&#8217;s DeFi ecosystem is rapidly evolving with the introduction of the ADA-backed stablecoin Djed.</strong></li>
<li><strong>Djed&#8217;s launch has attracted significant backing and offers opportunities for DeFi and payment settlement within the Cardano ecosystem.</strong></li>
</ul>
</li>
</ul>
<hr />
<h2 id="cardano-8217-s-defi-expansion-with-ada-backed-stablecoin-djed">Cardano&#8217;s DeFi Expansion with ADA-Backed Stablecoin Djed</h2>
<p>Cardano, a competitor to Ethereum, is witnessing significant progress in its decentralized finance (DeFi) ecosystem, primarily <a href="https://www.ethnews.com/cardano-rockets-forward-valentine-upgrade-and-blazing-p2p-nodes-propel-ecosystem-development/">driven by</a> recent advancements. Input Output Global (IOG), the developer behind Cardano, reveals that the introduction of Djed, an ADA-backed stablecoin, has played a crucial role in expanding the DeFi landscape within the Cardano network.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">ICYMI: the <a href="https://twitter.com/hashtag/EssentialCardano?src=hash&amp;ref_src=twsrc%5Etfw">#EssentialCardano</a> development update is live and packed full of all the details of what’s been going on development-wise on <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a>. </p>
<p>Check it out now <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2935.png" alt="⤵" class="wp-smiley" style="height: 1em; max-height: 1em;" /> <a href="https://t.co/Ouy4Qwl81R">https://t.co/Ouy4Qwl81R</a></p>
<p>&mdash; Input Output (@InputOutputHK) <a href="https://twitter.com/InputOutputHK/status/1657749357054099457?ref_src=twsrc%5Etfw">May 14, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="unlocking-defi-opportunities-with-djed">Unlocking DeFi Opportunities with Djed</h2>
<p>Djed, created by COTI Network, a payments platform, <a href="https://www.ethnews.com/cardano-shatters-boundaries-unleashes-groundbreaking-hydra-node-unleashing-scalability-at-a-mind-blowing-1m-tps-a-new-era-begins/">was launched</a> earlier this year and has quickly gained traction. According to IOG, Djed has already attracted 27 million ADA in backing within a day of its release. The stablecoin is available on various exchanges, including MinSwap, MuesliSwap, and Wingriders.</p>
<p>With each Djed token backed by six ADA, the stablecoin&#8217;s value is maintained, enabling it <a href="https://www.ethnews.com/in-a-historic-move-cardano-pioneers-a-new-era-of-banking-transactions-loans-and-dex-trading-with-bitcoin-on-the-ada-blockchain/">to unlock</a> significant DeFi opportunities within the Cardano ecosystem. Djed can also be utilized for payment settlements and fee coverage.</p>
<h2 id="hydra-boosting-scalability-and-efficiency">Hydra: Boosting Scalability and Efficiency</h2>
<p>IOG also highlights the positive impact of Hydra, a family of layer-2 protocols <a href="https://www.ethnews.com/as-ethereum-gas-fees-hit-187-cardano-emerges-as-investor-favorite-with-massive-hydra-scaling-update/">designed to enhance</a> Cardano&#8217;s scalability. By leveraging Hydra technology as a layer 2 protocol, developers can create mini-blockchains called heads, which handle specific functions off the main Cardano blockchain. These heads accelerate the processing time for applications and relieve the main chain from the associated workload.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f50e.png" alt="🔎" class="wp-smiley" style="height: 1em; max-height: 1em;" /> ZK rollups and their impact on blockchain transactions with <a href="https://twitter.com/vanishree_rao?ref_src=twsrc%5Etfw">@vanishree_rao</a></p>
<p>By creating a single proof for a whole set of transactions, ZK rollups reduce execution bloat and provide a more efficient way of verifying transactions on the <a href="https://twitter.com/hashtag/blockchain?src=hash&amp;ref_src=twsrc%5Etfw">#blockchain</a>.<br /><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4fd.png" alt="📽" class="wp-smiley" style="height: 1em; max-height: 1em;" /> <a href="https://t.co/FKzoI7cbbL">https://t.co/FKzoI7cbbL</a> <a href="https://t.co/LJrnPGr46Z">pic.twitter.com/LJrnPGr46Z</a></p>
<p>&mdash; Input Output (@InputOutputHK) <a href="https://twitter.com/InputOutputHK/status/1657778843854274560?ref_src=twsrc%5Etfw">May 14, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Additionally, Hydra <a href="https://www.ethnews.com/cardano-whales-make-waves-with-massive-ada-purchase-as-revolutionary-update-propels-ecosystem-to-the-forefront-of-l2-scaling-solutions/">reduces</a> transaction costs, making Cardano more efficient and scalable.</p>
<h2 id="weekly-development-updates">Weekly Development Updates</h2>
<p>The recent weekly development report <a href="https://www.ethnews.com/cardano-plans-to-utilize-superior-technology-to-assist-billions-in-africa-and-asia-conquering-trillion-dollar-markets/">provides</a> insights into various aspects of Cardano&#8217;s progress. Here are the highlights from different teams:</p>
<h2 id="core-technology">Core Technology:</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>The release of node v.8.0.0 brings new governance actions, fairness improvements, and query commands for inspecting metrics and data in the mempool.</li>
<li>The ledger team <a href="https://www.ethnews.com/cardano-launches-first-mainnet-version-of-hydra-scaling-to-1m-tps-is-ada-price-poised-to-explode/">focuses</a> on improving the Conway ledger era and node integration, introducing new certificates and developing constraint-based generators for property tests.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h2 id="wallets-and-services">Wallets and Services:</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>The Daedalus team works on enhancing the reliability of the currency conversion feature and releases Lace 1.1.0 with improvements for user experience, wallet recovery, and pricing display.</li>
<li>The Adrestia team <a href="https://www.ethnews.com/cardano-soars-with-aada-v-2-pool-manager-nft-and-surging-transaction-volume-the-future-looks-bright/">separates</a> the balance TX library, prepares for multi-signature wallet delegation functionality, and updates cardano-wallet to support node 8.0.x.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h2 id="smart-contracts">Smart Contracts:</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>The Plutus tools team documents the marconi-sidechain architecture, profiles performance regression, and improves the Plutus Tx standard library.</li>
<li>The Marlowe team <a href="https://www.ethnews.com/cardanos-charles-hoskinson-unveils-superior-technology-and-cryptos-future-on-billion-dollar-media-giant-foxnews/">adds</a> library functions, conducts QA testing, and tests individual CLI features.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h2 id="basho-scaling">Basho (Scaling):</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>The Mithril team <a href="https://www.ethnews.com/cardanos-djed-protocol-makes-groundbreaking-move-deploys-on-ethereum-compatible-sidechain-unlocking-a-new-era-of-interoperability-and-growth/">completes</a> the last migration phase of the aggregator stores, implements mechanisms for signing generic data, and prepares for the release of a Mithril network on the mainnet.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h2 id="voltaire">Voltaire:</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>Global workshops <a href="https://www.ethnews.com/cardanos-scaling-efforts-hydra-to-achieve-1m-tps-mithril-stake-distribution-and-conway-ledger-era-development/">will be conducted to discuss</a> CIP-1694, focusing on Cardano&#8217;s on-chain governance. These workshops, held in over 20 locations worldwide, provide opportunities for networking and collaboration among the Cardano community.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h2 id="catalyst">Catalyst:</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>The Catalyst team hosts regular town halls, featuring presentations of completed projects funded through token gating proposals and challenge team reports.</li>
<li>The workshops and virtual sessions <a href="https://www.ethnews.com/cardano-ecosystem-launches-innovative-nft-game-in-partnership-with-billion-dollar-company/">aim to explore</a> the latest developments in Cardano&#8217;s on-chain governance proposed in CIP-1694.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h2 id="education">Education:</h2>
<ul>
<li style="list-style-type: none;">
<ul>
<li style="list-style-type: none;">
<ul>
<li>The Education team successfully <a href="https://www.ethnews.com/cardano-shows-impressive-growth-in-price-treasury-balance-and-defi-ecosystem-dominance/">concludes</a> the Plutus Pioneer Program (PPP4), receiving positive feedback from participants. The program included interactive training sessions, weekly lectures</li>
</ul>
</li>
</ul>
</li>
</ul>
<div class="cryptoboxes" id="mcw-12352" data-realtime="on"><div class="mcw-chart mcw-chart-light" data-font = "inherit" data-chartcoin = "ADA" data-chartcurrency = "USD" data-chartrate = "1.000268" data-charttype = "chart" data-chartview = "day" data-charttheme = "light" data-chartsmooth = "true" data-chartareacolor = "" data-chartbgcolor = ""></div></div>
</div>
</div>
</div>
</div>
</div>
</div>
<p>The post <a rel="nofollow" href="https://www.ethnews.com/cardanos-ecosystem-on-fire-surging-with-1240-projects-66-3m-transactions-and-djed-spearheading-the-defi-revolution/">Cardano&#8217;s Ecosystem on Fire: Surging with 1,240 Projects, 66.3M Transactions, and Djed Spearheading the DeFi Revolution</a> appeared first on <a rel="nofollow" href="https://www.ethnews.com">ETHNews</a>.</p>

Cardano’s Ecosystem on Fire: Surging with 1,240 Projects, 66.3M Transactions, and Djed Spearheading the DeFi Revolution

Table of Contents

ETHNews

Outros artigos publicados em 15 de mai. de 2023

What Is the Shiba Inu Coin Burn Mechanism?

May 2023 Cronos newsletter: Amazon Web Services, CRO token burn program, Dappradar, Fulcrom

Top 3 Avalanche NFT Projects

End of Ethereum? Here’s What Finality Issue Is About

NFTfi Launches Earn Season 1: Promoting Responsible NFT Lending

WEBD | A Grassroots DAO Success Story

Join our free newsletter for daily crypto updates!