There have been some key developments around the Cardano (ADA) ecosystem lately. To keep followers informed, Altcoin Buzz takes a look back at the most important Cardano updates that took place in the second week of September.
Over the past week, the Cardano (ADA) blockchain attained a key milestone with the successful Alonzo hard fork. In addition, Taurus integrated the Cardano blockchain. Let’s take an in-depth look at these updates and more.
On the 12th of September, Cardano’s Alonzo hard fork went live on the Cardano mainnet. Therefore, ensuring the long-awaited smart contract feature now exists on the blockchain.
1/2 Upgrade successful.
Moments ago, we deployed the #Alonzo upgrade at the epoch rollover.
— Input Output (@InputOutputHK) September 12, 2021
Based on reports, the Alonzo hard fork makes it possible for new features to be added via the Plutus language. Thus, raising the level of Cardano to the likes of other smart contract-enabled blockchains such as Ethereum.
The addition of Plutus smart contracts will usher in more use cases for dApps and DeFi. It also makes it possible to build dApps in the ecosystem. As well as, to allowing more complex computational programs.
“The Alonzo upgrade will bring highly anticipated capabilities to Cardano through the integration of Plutus scripts onto the blockchain. These will allow the implementation of smart contracts on Cardano. This will enable a host of new use cases for decentralized applications (DApps) for the very first time,” the report stated.
Cardano’s Marketing and Communications Director, Tim Harrison, also mentioned that new additions were still in the early stages. Thus, giving users a heads-up that they might encounter difficulties at this time.
Taurus, a unified platform that manages digital assets, revealed it has integrated the Cardano (ADA) blockchain. Not to mention, staking capabilities as well.
This development means that Taurus users will be able to receive staking rewards on the Cardano platform via Taurus-PROTECT, a digital asset custody platform based in Europe. Accordingly, Taurus also “…expanded Taurus-EXPLORER, its blockchain connectivity infrastructure, to support Cardano.” This was done is response to increased demands for Cardano for “battle-tested Proof-of-Stake (“PoS”) blockchain protocols.”
☑️ We're pleased to announce that Cardano staking capabilities have been integrated into Taurus-Protect, the leading digital asset custody platform in Europe.https://t.co/r5kV1fTS2A
We would like to thank the @Cardano technology teams for their support.
— Taurus (@taurus_hq) September 14, 2021
The Cardano Foundation’s CEO, Frederik Gregaard, also commented on the development. He said: “…we are delighted to collaborate with institutional-grade companies like Taurus in order to integrate our blockchain. We want to build bridges that can support those embarking on the blockchain journey with us.”
Last week, Delta Exchange, a cryptocurrency derivatives platform, revealed that they have released a new trading feature involving Cardano. This new feature is the addition of futures trading for Cardano.
Reports revealed that, at the current time, the ADA call and put options will only have daily maturities. But, subsequently, weekly and monthly maturities will be added.
It’s also important to note that options give “owners the right, but not the obligation, to buy or sell a security at a specific price within a certain time window.” Specifically, the call and put options are utilized more in traditional markets but have gained popularity in cryptocurrency.
Cardano will be joining the options trading list on the Delta exchange that already includes cryptocurrencies like Binance Coin (BNB) and Ripple (XRP). As well as, Bitcoin (BTC) and Ether (ETH).
Matrixswap, a decentralized virtual AMM-based perpetual swaps trading protocol, announced it has entered into a strategic partnership with Charli3. Charli3 is a decentralized oracle solution for Cardano.
Following the partnership, Charli3 will provide reliable and accurate price data services to Matrixswap’s perpetual swap trading platform. Therefore, helping traders with know-how on where the index market is headed.
@matrixswap is ecstatic to announce our Strategic Partnership with @Oraclecharli3, Cardano’s decentralized oracle solution. Charli3 will provide accurate and trusted price data feeds for our perpetual swaps trading platform.
Learn more here – https://t.co/RzqMmFN1hu
— matrixswap (@matrixswap) September 15, 2021
Matrixswap’s Project Lead, Joseph Liu, commented on the development. He said, “The accuracy of oracle price feed is one of the most important foundation of Matrixswap protocol. We’re thrilled to be working with Charli3 as the main oracle provider for our Cardano deployment.”
As of the time of publication, Cardano’s price was $2.36 with a 24-hour trading volume of $2,591,156,444. ADA price also dropped by 4.6% over the last 24 hours. Besides, it has a circulating supply of 32 billion ADA coins and a total supply of 45 billion.
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