Cardano launches its algorithmic stablecoin, Djed

Cardano

Cardano has launched its algorithmic stablecoin, Djed (DJED), on its mainnet after a successful security audit.

The stablecoin, backed by Cardano’s native ADA token, is pegged to the US dollar and uses the Shen (SHEN) token as its reserve coin.

Unveiled in November last year, the announcement was met with widespread online debate over the place of algorithmic stablecoins in the future of blockchain, given the collapse of TerraUSD (UST) months prior.

Since...

31 January 2023 | Blockchain Applications

Cardano launches Vasil upgrade on testnet

Cardano’s much-anticipated Vasil upgrade has successfully launched on the project’s testnet.

Vasil is the most significant upgrade for Cardano since ‘Alonzo’ in September 2021 which brought smart contracts to the platform.

The platform’s main developer, IOHK, described Vasil as delivering numerous improvements:

https://twitter.com/InputOutputHK/status/1541800460838993922

Cardano is consistently among the most actively-developed blockchain...

4 July 2022 | Altcoins

Cardano’s ADA token becomes third largest cryptocurrency

Cardano ADA Token

ADA, Cardano’s native token, has surpassed stablecoin Tether to become the third largest cryptocurrency based on market cap.

According to cryptocurrency tracker CoinGecko, the ADA token now has a market cap of $64.9 billion (£47.2bn) compared to recently overtaken Tether which sits just shy at $64.6 bn (£46.9bn).

Perhaps more notably, the Cardano coin has a seven day growth rate of 20.8%, putting it leaps and bounds ahead of Tether’s 0.7% growth or top dog...

18 August 2021 | Altcoins