Read the most recent Cardano updates and news. The Cardano community has some great news to share in the fourth week of August.
We bring you the latest updates from Vasil Hard Fork. Also, there is news from Cardalonia, the Cardano-based Metaverse project. Apart from that, there is other news from the Cardano ecosystem.
1) Successful Vasil Hard Fork Testnet
On August 19th, Input-Output Global (IOG), the blockchain technology company responsible for Cardano’s research and development, launched a new public testnet called “YoloNet”.
SPOs requested that IOG create YoloNet. The reason is that members of the community thought that there should be a new public testnet that simulates the mixed node environment that exists on the mainnet. Also, they wanted to be sure that any “unhealthy minfee” transactions accepted by nodes running release 1.35.2 would not be propagated to any patched nodes in the Cardano community.
Adam Dean is a former SPO and co-founder of Buffy Bot Publishing. He shared the exciting news that a Vasil HFC had occurred on YoloNet.
Congratulations to @kiwipool2 for producing the first block in the #Babbage era on #Cardano #YoloNet! Our community #HFC #CUE testnet for #Vasil! The fork has occurred, everything is looking great! Kudos to all involved! Huge shoutout to @therealdisasm and @InputOutputHK for… pic.twitter.com/x3lACyavTO
— Adam Dean (@adamKDean) August 23, 2022
Moreover, Dean responded that once 75% of the mainnet nodes are on release 1.35.3, a final HFC test would be performed on testnet “Pre-Production”. Furthermore, he said that the HCF event could be scheduled on the mainnet, which he expects to happen by early to mid-September.
2) Cardalona is Launching Playable Avatars On Cardano
Cardalonia, a Cardano-based metaverse project, has announced a cooperation with Ready Player Me. The collaboration will result in the creation of playable avatars in the Cardalonia Metaverse. The avatars will provide LONIA token holders with a lifelike way to explore the Cardalonia metaverse.
“Cardalonia” Metaverse on Cardano Announces Exchange Listing, Land NFT Presale and ISPO
— Cardalonia (@cardalonia) August 19, 2022
Cardalonia has also stated in its Telegram channel that it would be listed on a centralized crypto exchange. That will follow a presale of Cardalonia Lands named “Terrania”. It will begin after the October 1st staking vault snapshot.
Moreover, Cardalonia is a virtual environment where people may create, own, and create their own experiences on the Cardano Blockchain. They can explore Caradalonia, do activities, and earn prizes. Creators may also build Cardalonia-compatible items and exchange them on the Cardalonia In App marketplace for $Lonia. It is the platform’s in-game currency.
3) Kraken Futures now accepts Cardano (ADA) as collateral
Cardano (ADA) is now available as a collateral cryptocurrency on Kraken’s futures platform, according to the cryptocurrency exchange.
📣 New collateral live:
Use ADA to get exposure to over 40 futures contracts now!
Get started today by transferring ADA from your Kraken spot wallet to your Kraken Futures wallet.
*Geo restrictions apply
— Kraken Exchange (@krakenfx) August 22, 2022
The native token of one of the top proof-of-stake protocols may now be used to get exposure to dozens of crypto futures contracts. Kraken provides single-collateral and multi-collateral futures. The first sort of futures contract, as the name implies, only allows users to employ the base cryptocurrency of a certain pair as collateral.
At the same time, the second type allows traders to deposit a variety of cryptocurrencies as collateral. It’s worth mentioning that the ADA token has a 10% “haircut,” which is a reduction in the collateral’s margin value. For example, if a user’s balance is 1,000 ADA tokens, 900 ADA tokens count as collateral that the user can use to backorder.
4) Cardano (ADA) Uses Less Energy Than YouTube, PayPal, and Netflix
Cardano, a Proof-of-Stake (PoS) blockchain, said that it is more energy efficient than IT titans such as Paypal, YouTube, and Netflix in terms of energy use.
According to Cardano Explorer data, the network has 3,198 pools, with an estimated yearly use of 3.103 GWh, or 0.0031 TWh. On the other hand, Netflix consumed around 94 terawatt hours (TWh) in 2021, according to statistics. Also, YouTube’s yearly use was about 244 TWh, whereas PayPal used 254,700 MWh (0.25 TWh) of power in 2019.
CARDANO ENERGY CONSUMPTION
The Merge event has fixed the date on or around Sep 15, considering ETH greener to the environment. However, before the date come, take a look at the energy consumption between @Cardano network and some real world activities.#cardano #sustainable pic.twitter.com/mDMKRTLlsv
— Cardano Daily (@cardano_daily) August 22, 2022
Finally, PoS uses far less energy than POW, such as Bitcoin. For example, the Bitcoin network consumes 131 TWh of power per year. It is more than Argentina, Holland, and the United Arab Emirates combined.
5) Direct Japanese Yen Purchases of Cardano (ADA) Are Available
OKCoin Japan, the Japanese branch of one of the world’s major crypto exchanges, has announced the listing of ADA, the Cardano blockchain’s main token. All interested investors will be able to exchange the cryptocurrency for the Japanese yen beginning on September 1st.
＼ ADAの取扱い ／
— OKCoinJapan（オーケーコイン・ジャパン） (@OKCoinJapan) August 23, 2022
The listing of ADA on one of Japan’s main exchanges would certainly help the project. Especially in terms of Cardano’s visibility and capital. Because of the poor returns on traditional financial markets, the Japanese want to invest in alternative investment options.
Furthermore, Japanese firms and the government are generally supportive of the new digital economy, which helps the freedom of cryptocurrency circulation.
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