Users will be granted a yield rate of 4.05% as the platform capitalizes on the rising popularity of ADA, with Cardano witnessing increased adoption over the last year.
Recently, Cardano founder Charles Hoskinson confirmed in a live stream update users can “run smart contracts the moment hard fork comes on” in relation to the new “Alonzo” hard fork.
With over 500 workers in 52 countries, Cardano appears to be on track to continue growing and expanding commercial connections following the hard fork event.
Positive sentiment surrounding ADA
The Ethereum co-founder revealed once smart contracts are here:
“The Dapp ecosystem for those will grow considerably so from day one people will be running things on the Cardano on blockchain, and the sophistication of those things and the interfaces of those things will only get better over time.”
Amy Arnott, portfolio manager at the American financial research firm Morningstar, predicts that Cardano will become one of the “big three” mainstream cryptos as the Dapp ecosystem grows. According to the strategist, there are a plethora of potential technological uses for blockchain that may catch the interest of institutional investors in particular.
Moreover, Cardax, a decentralized exchange (DEX), has raised $1.5 million in its inaugural community token sale. The Cardax exchange, which runs on the EAMM protocol, will act as the Cardano ecosystem’s trading platform, aiming to alleviate some of the Cardano ecosystem’s shortcomings while also broadening Cardano’s business use cases and encouraging acceptance in the DeFi industry.
