Cardano (ADA-USD) does not stay out of the news cycle for long. The network is constantly strengthening its offerings and partnerships, or courting governments in an effort to drive adoption of crypto-currencies. Cardano’s recent news has a bit of everything. Indeed, a new partnership, dapps milestones, and a growth fund got ADA cryptocurrency holders excited for the start of the month.
It’s been less than a year since the layer-1 network unveiled its smart contract capabilities. In the months that followed, the developers wasted no time trying to expand the platform. Indeed, founder Charles Hoskinson and his company have traveled the world, primarily Africa, to promote government-scale cryptocurrency use cases. They have so far been successful in establishing partnerships with the governments of Burundi and Ethiopia.
And while its dapp offerings haven’t taken off as quickly as expected, the network is certainly growing. As of this week, the network has nearly 900 dapps. While Hoskinson predicted that Cardano would contain thousands of dapps so far, 900 apps built since mid-September is still pretty exciting. Additionally, the network has become a haven for the non-fungible token (NFT) market, with over 4 million native NFTs minted.
Cardano developers have shown a great aptitude for growing their network and promoting its adoption overseas. This week’s Cardano news shows they are not slowing down.
Funds and Partnerships Dominate Cardano News
Charles Hoskinson takes his network overseas once again with this week’s crypto news – this time to Europe. The Cardano Foundation, which underpins the wider Cardano network, is partnering with the University of Zurich in Switzerland for a three-year research initiative. See the article: Polygon Matic price prediction: MATIC is $7 by the year 2030?. The University of Zurich is a well-known institution in the crypto space; its Blockchain Center is one of the largest blockchain research centers in the world.
The partnership is a win-win for both parties. The university will be able to rely on an organization that underpins one of the largest layer 1 networks in the world. Through this relationship, Zurich researchers will be able to examine many facets of blockchain technology. Using Cardano’s chain as a research point, experts can examine the nuances of different scaling technologies, security measures and more. Cardano thus has the advantage of using this research to contribute to the growth and development of its own network.
This news follows a major announcement made last week regarding a Wave Financial ADA fund. The financial services company has announced that it will contribute $100 million to fund the growth of the Cardano DeFi ecosystem. With these funds, Cardano will be able to provide its network developers with the necessary liquidity to build robust DeFi platforms and services.
Although Cardano news is great for users, the network cannot be saved from a plummeting market today. The ADA crypto is trading down around 4% this morning.
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The Cardano (ADA) network continues to expand with this new fund and research initiative. – Mag Mirror
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