Cardano Grows by the Day (Altcoin Making BIG Progress)
Developers are working hard to launch the first applications. In the weeks and months to come. We will see an algae bloom of activity on Cardano, as this ecosystem grows like vine., And even the haters will be bridging over to take advantage of the new opportunities and applications on this network.. In fact, some of Cardanos biggest critics are already coming around and beginning to understand that ADA has taken root and is here to stay. Lets get it Welcome to BitBoy Crypto Home of the BitSquad, The largest and greatest crypto community. In all the interwebs. My name is Ben. Everyday on this channel. I show you how to make money in crypto.. If you like money and crypto, then make sure to hit that subscribe. Button. In this video were going to cover some recent updates on Cardano and show how the narrative about this project is beginning to change now that smart contracts have finally arrived.. According to some of the most recent estimates, there are over 3000 smart contracts waiting to be deployed on the Cardano network.. These applications like little acorns, are in a time lock contract and are expected to begin rolling out slowly over the next few weeks.. Some of these projects include decentralized exchanges like Cardax and SundaeSwap. A liquidity and lending service called Liqwid and a rewards token called GREED.. A large assortment of different stablecoins will also be coming to the Cardano network.. We have covered Cardanos main stablecoin Djed on the channel many times before, but there will be plenty of other stable assets that serve different purposes and, as the network also becomes more decentralized and resilient as more options become available.
One of the other stablecoins. That will soon be launching on Cardano is Ardana an over collateralized stablecoin protocol that is connected to a large liquidity pool that allows for decentralized lending and borrowing of stablecoins.. There will also be apps like AdaSwap, which will allow users to easily trade between stablecoins and native assets on the Cardano blockchain.. Other non financial applications are ready to go, live on Cardano as well, including SingularityNET. The popular blockchain project that was built to harness and organize the power of artificial intelligence.. Nft projects are already launching and selling out, and blockchain based games are currently in development on Cardano. As well. One recent NFT drop called Battle, Cats sold out shortly after launching.. The team behind the project is now at work on its second season. Earlier this month. An even bigger NFT project called Clay Nation also sold out immediately after launch. Sounds a lot like how things went for our Pluto Alliance project.. There are many different teams working on games that will use the Cardano blockchain to create play to earn mechanics, but it seems that Drunken Dragon Games will be one of the first to market.. The game will use NFTs to give players assets that can be earned and traded in the game. Any garden needs tending, and when these apps start going live its going to be important for you to do your own due diligence and research. These projects before using them. Just because Cardano, is a trusted and secure blockchain.
It doesnt mean that every app that launches on it should be trusted.. This is true with every blockchain, because this is a permissionless technology that anyone can build on top of and when you are dealing with networks that have cheap transactions, that is a lower barrier to entry for everyone and like weeds spammers and scammers will no doubt pop Up. Most of the projects that we had discussed are officially backed by IOHK and the Cardano team, but very soon there will be more projects rolling out than we can keep up with.. You will see yield farms and lending platforms, some of them probably offering huge returns, but, as we have seen on chains like Ethereum, BSC and Solana, some applications are safer than others, with the most popular blue chip projects, usually being the safest. When dealing with any crypto Ecosystem, if you venture far down the market cap list and stumble into obscure yield farms, there is a good chance that you will encounter some kind of rug, pull sooner or later.. This is especially true for new people entering the space who dont know what to look out for. One thing that could help newcomers separate the good from the bad is a certified app store, and there have been hints that something like this will be revealed at this Weekends Cardano Summit on September 25th and 26th, where the team has promised some huge announcements. In a blog post this week, IOHK shared some details about the new app store, highlighting the importance of app curation in this industry.
, As it stands right now, most blockchain apps catch On through word of mouth, which can be great for growing, a community organically but too many bad actors are able to slip through the cracks without proper curation. In Cardanos app store. Users will be able to choose from a wide variety of different options that have been thoroughly vetted by and certified by blockchain experts. Uncertified platforms are able to host their applications in Cardanos store as well, but it will be made very clear that they have not been Reviewed yet or they dont meet Cardanos standards for some reason. IOHK says that they dont intend to be a gatekeeper for these applications, but instead offer more transparency in a space that is often confusing for the average user. You can be above average just by clicking the Like and subscribe button. That puts you in the BitSquad and keeps you in the latest on crypto assets.. All this activity, though, is like water to Cardanos soil.. Some of the projects biggest critics are starting to change their tune and walking back on some of their previous comments.. Over the past year, Mike Novogratz, the institutional crypto investor who runs Galaxy. Digital has been one of Cardanos biggest trolls, reportedly calling the technology a scam and referring to the community as a cult.. Until recently, Novogratz has had no interest in having an open dialogue with the Cardano community, but now he wants to have Cardano founder Charles Hoskinson on his podcast.
. He is now praising the passion of the community that he was calling a cult not too long ago.. In a recent Tweet exchange, where has was called out for his ignorance of the Cardano ecosystem, Novogratz gave an apologetic response saying that he has no animosity towards the ADA Gang and that he plans on including Cardano in his upcoming research paper on layer 1 blockchain protocols.. We can probably expect to see plenty more Cardano critics eating their words as the network grows and delivers on its promises.. In addition to his work with Cardano, Charles Hoskinson is also becoming a philanthropist using his wealth and influence to advocate for the blockchain industry. On September 28. Hoskinson will be speaking about the recent infrastructure bill at a blockchain summit in Washington DC in hopes of convincing lawmakers to back off and allow the industry to grow.. Charles also announced that he would be donating 20 million to Carnegie Mellon University to establish the Hoskinson Center. For Formal Mathematics., The new center will be tasked with the ambitious goal of rewriting the language of math. Sounds exciting.. Sign me, up. In a new livestream Charles explained that the work done at this center will help mathematicians collaborate and solve problems that have been holding the field back for generations.. This was a personal donation that came from his bank account and was entirely separate from his work with Cardano. Nearly overnight. The narrative about Cardano has shifted. The contributions that this community is making to the industry, and overall ecosystem are finally being recognized by the people who werent paying attention before and the ones who were hoping that this day would never come.
But thats. All I got. Be blessed.