Cardano (ADA)

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Cardano will be rolling out a hard fork (major upgrade) to facilitate cross chain developments.

Cardano's Network Major Upgrade Nears, Here's What to Know

In the next 10 days, Cardano is scheduled to undergo a major upgrade. The mainnet hard fork is scheduled to occur Feb. 14, 2023, at 9:44:51 p.m. UTC. It will take place at the start of epoch 394, around absolute slot height 84844800 and estimated block height 8403208.Cardano builder IOG says it is…

www.tradingview.com

 

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I wouldn't consider this a positive sign for Cardano's future:

Cardano Developer IOG Restructures to Venture Studio Model, Lays Off Some Staff

The blockchain research and engineering company has cut jobs as it pivots to a smaller venture studio business model.

www.coindesk.com

 

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I thought Cardano was perhaps falling behind it's peers, but lately it's seen a resurgence. Apparently, there is still a good bit of development work happening on this blockchain.

 

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More details:

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Ownership of each Chaincrib property is split across a finite number of representative tokens minted on the Cardano blockchain.

Here, you don't just own the tokenized properties as NFTs, Based on token share, owners can collect revenue from rent, and vote on property decisions.
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Chaincrib | Fractional Real Estate Platform

Chaincrib is a Cardano based platform for investing in fractional units of global rental properties

chaincrib.com

You will soon be able to buy fractional ownership of rental properties with crypto and collect your fractional share of rent in crypto as well.

 

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Cardano welcomes USDM, its first fiat-backed stablecoin​

Cardano, a leading Layer-1 smart contract network, has announced the launch of the USDM stablecoin by Mehen Finance. This event marks a significant development in the platform’s journey towards broader adoption. The USDM stablecoin, fully backed by U.S. dollars, promises a 1:1 conversion rate for users. It stands as the first non-algorithmic, fiat-backed stablecoin on the Cardano blockchain. The introduction of USDM aims to enhance the ecosystem’s security, scalability, and sustainability for decentralized applications.

Mehen Finance revealed that the onboarding of institutional customers for USDM would start immediately, taking approximately one to two days. Consequently, the USDM stablecoin will progressively appear on the Cardano blockchain during the week of March 18. This strategic move is poised to bolster Cardano’s ecosystem, attracting a broader user base and developers interested in leveraging the new stablecoin’s capabilities.

More:

MSN

 

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Over the past year, bitcoin (BTC) has increased by 148.4% and ethereum (ETH) by 93.9%, whereas cardano (ADA) has seen a more subdued growth of 56.8%. This week marked a notable change as toncoin (TON) overtook ADA, ascending to the ninth-largest market cap and nudging ADA down a notch.

Despite this shift, ADA still maintains a lead over avalanche (AVAX), boasting a market capitalization slightly above $22 billion, compared to AVAX’s market value of $18.27 billion as of April 9, 2024. While BTC soared to unprecedented heights this year and many cryptocurrencies are hovering near their previous peaks, ADA remains 80% below its Sept. 2, 2021, zenith of $3.09 per coin.
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Cardano Slips to 10th Position, Underperforming in a Surging Crypto Market – Market Updates Bitcoin News

After holding a leading spot among the top cryptocurrencies for years, cardano (ADA) has recently been relegated to the tenth position.

news.bitcoin.com

Cardano is struggling to keep up with it's peers even though there appears to be a good bit of development activity within the ecosystem. It could be a sign that it's undervalued compared to it's peers. Or that it's peers are doing things better.

 

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Some perspective on what the USDM stablecoin means for Cardano:

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While Cardano has shown time and time again its resilience as a hub for decentralised and sanction-free transactions, it has largely been ignored by USDT and USDC - two fiat-backed stablecoins created by the Tether Holdings and Circle Consortium. The two USD-backed tokenised assets with a combined value of $137 billion plus, have largely paid zero attention to the Cardano blockchain.

This hesitancy to launch USDT and USDC have served as a form of chasm as several decentralised applications (dApps) have been unable to access real-world liquidity as their counterparts on Ethereum and Solana.
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USDM is the first US-licensed fiat-backed stablecoin, meaning US residents building on Cardano can both store and move capital seamlessly across the Cardano blockchain. Even better, it is totally decentralised as network power rests in the hands of the community.



This means the Mehen project team cannot censor any transaction validated with USDM on the Cardano blockchain. This means users will not experience fund freeze with their native assets. This is due to the availability of a know-your-customer (KYC) verification process that all users have to go through before accessing the stablecoin. This ensures that bad actors or cyber criminals do not move value using the stablecoin, cutting out the necessity of censoring such transactions.

Even better, it operates seamlessly with all Cardano native assets allowing for capital to move across the 162 blockchain projects operating on the peer-focused platform. It is also fully secure, transparent, and scalable ensuring that value transmission across dApps is as smooth as it should be.

The Mehen team is not stopping here, though. The stablecoin maker is already making moves towards collaborating with payment companies to make debit card swipes, chip-and-PIN, or tap-to-pay capability fully accessible on Cardano while leveraging the tokenised value USDM promises.

All in all, USDM’s emergence on the Cardano is the much-needed jet fuel, the peer-reviewed protocol needed to become the new darling of the DeFi space.

USDM Breaking the Stablecoin Barries - A Blessing or Curse?

www.digitalgoldecosystem.com