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 recovers from 50% of network nodes going offline

Cardano ADA Token

Cardano users reported that at least half of the blockchain network’s nodes went offline over the weekend.

A Telegram post from a group for Cardano stake pool operators (SPOs) said that an anomaly caused 50% of Cardano nodes to disconnect and restart.

The post said the disruption was caused by a “a transient anomaly causing two reactions in the node, some disconnected from a peer, others threw an exception and...

24 January 2023 | Altcoins

Cardano to launch algorithmic stablecoin in January 2023

Cardano ADA Token

Cardano, the proof-of-stake blockchain network oft touted as Ethereum’s most serious competitor, plans to launch an algorithmic stablecoin in January 2023.

Project ‘Djed’, which is being developed in partnership with COTI, a DAG-based Layer 1 protocol, will use an algorithm that is backed by excess collateral through a cryptocurrency reserve.

Djed is set to launch on Cardano’s mainnet as early as January next year, so long as it passes an audit and a planned...

23 November 2022 | Altcoins

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

Ethereum Virtual Machine goes live on Cardano testnet

Ethereum developers that are considering defecting to Cardano can now test their dApps on the growing blockchain platform.

https://twitter.com/InputOutputHK/status/1535979507840167943

Cardano’s Ethereum Virtual Machine (EVM) has full compatibility with Ethereum upgrades and tools, Web3 wallet compatibility, can use the Ouroboros Byzantine Fault Tolerance consensus protocol, and inherit security from Cardano’s main chain.

Cardano vs Ethereum

Ethereum is...

14 June 2022 | Altcoins

Cardano Summit 2021 sees DeFi, NFT and climate partnerships

A protester holding a sign that reads 'Earth is more valuable than money'.

The Cardano Summit 2021 on September 26 has led to a number of strategic partnerships designed to drive adoption of the Cardano blockchain being announced.

Held by the non-profit custodian of the blockchain, the Cardano Foundation, the Summit was co-located across a mixture of virtual and physical events in New York, Miami, Wyoming, London, Berlin and Cape Town.

At the event, Frederik Gregaard, CEO of the Cardano Foundation, said: "At Cardano, our goal is to provide...

30 September 2021 | Altcoins

EMURGO to invest $100m into Cardano ecosystem

A bundle of $100 notes.

EMURGO, a blockchain solutions company and the commercial arm of Cardano, plans to invest $100 million (£73m) into the network’s ecosystem.

In a tweet, the company said the funds will be used to “accelerate DeFi, NFT solutions and blockchain education".

The announcement came during the Cardano 2021 Summit on September 26.

EMURGO CEO Ken Kodama followed the announcement with another tweet, saying: “Please contact us if you would like to receive investment...

28 September 2021 | Cryptocurrency

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

Charles Hoskinson, Founder, Cardano: On restoring trust through decentralisation

The Block spoke with Cardano founder Charles Hoskinson about the blockchain industry and restoring trust through decentralisation ahead of the platform’s upcoming launch of smart contracts.

Hoskinson co-founded the current decentralised app platform leader, Ethereum, but left the project following a dispute about accepting venture capital and the need for a more formal governing structure. He went on to found Cardano in 2015 and became the CEO of the project’s main developer,...

9 February 2021 | Cryptocurrency

Cardano is ‘building bridges’ to Ethereum with new KEVM testnet

Cardano Logo

Cardano is launching a new KEVM (K Ethereum Virtual Machine) to build a bridge with the leading smart contract platform’s developers.

Charles Hoskinson, Founder of Cardano and CEO of IOHK, was a co-founder of Ethereum. 

Disagreements over Ethereum’s direction led Hoskinson to create Cardano, taking a more academic approach to its development and fixing the notorious problems which have plagued the largest smart contract platform.

Cardano launched after...

18 December 2020 | Blockchain Applications