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Charles Hoskinson: Cardano Is Open for Business

Altcoins

u.today 03 July 2022 20:36, UTC
  
Reading time: ~2 m

In his most recent interview, Charles Hoskinson told a reporter that Cardano is "open for business" as the ecosystem keeps on growing almost every day by adding up DEXes, NFT marketplaces, oracles and stablecoins. With a variety of use cases, Cardano is welcoming more projects and teams.

The co-founder of Cardano and Ethereum noticed that the network has every tool imaginable for businesses to start operating in a Cardano ecosystem that offers low fees, high transaction processing and decentralization.

"#Cardano is open for business" - @IOHK_Charles

Our asset-backed stablecoin will give businesses the assurance and security to operate freely in an otherwise volatile industry.

With the stability and security of $USDM, we're building an unrelenting onboarding force for $ADA. pic.twitter.com/ZfhRgqvYn8

— Mehen Finance (@MehenOfficial) July 2, 2022

Previously, U.Today covered how Cardano successfully uses a decentralized governance process for funding small teams that are willing to transition on Cardano via the Project Catalyst Fund. Over 500 projects and initiatives were funded by thousands of users who want to shape the future of the network.

Cardano users are waiting for important release

One of the most important things for any decentralized network would be the presence of a stablecoin solution constantly supported by a large group of developers and economists who can make sure that it can withhold any kind of selling pressure.

Cardano is already getting ready for the release of numerous stablecoin solutions that can act as a bridge between the network and fiat currencies and attract even more investments to the ecosystem.

Unfortunately, the variety of solutions on the network and strong decentralization are not helping ADA to perform better on the market while the whole industry is struggling with low inflows and high risks.

In the last 300 days, Cardano lost over 80% of its value from its ATH, which makes it one of the least profitable assets on the cryptocurrency market despite being one of the most actively developed blockchains in the industry.


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