STRONGEST Cardano Fundamentals (Blockchain of the Future Take Over NFTs)
In fact, the whole development team has been getting their hands dirty working on the first applications, so they can be entirely ready for mass consumption and we recently got a preview of what theyve been working on lets. Get it welcome to bitboy crypto home of the bit squad, the largest and greatest crypto community on 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, todays video were going to be giving a review of some of the exciting news to come out of the recent carnando summit shine a light on some of the development thats been happening on The network now that smart contracts are up and running its time to start focusing on the applications and partnerships that will build out the cardano ecosystem. Blockchain networks are complicated structures that work best when they are built in the right order. So the network can stand on a strong and secure foundation. This is the whole point behind cardanos, meticulous development strategy. After watching other projects in the industry, cardano developers have learned that rushing to market where the product can cause big problems down the line when people start to use it with the launch of smart contracts. Cardano finally has a strong foundation to start building. On top of now, its time to build each part of the stack in a progressive order in deepvi, this ability to configure is sometimes known as money legos, because each protocol can be combined with others or fork to add new features, creating an entirely different structure than We had before after smart contracts, the next step will be a rollout of native assets that will help power.
The network cardano is doing this in a big way. The top priority seems to be stable coins, which makes sense, considering that we now know, stablecoins are one of the most important building blocks for decentralized finance in our previous cardano videos, weve been keeping you updated on jet and the other cardano native stable coins. That will be launching soon, but new projects continue to be denounced as development on the network heats up. Just last week, the cardone divi platform meld announced the launch of a revolutionary idea of money backed by gold. It does sound like a great idea. Someone should try that, but in cardos case this would be a goldback stablecoin. In the recent cardano summit, mel chairman and co founder ken alling explained that actual gold will be stored in a vault, tokenized and then fractionalized, so it can be sold to cardano users. This type of innovation is extremely important for our industry and the reason should be obvious. One of the goals of the crypto movement has always been to disrupt fiat and give us an alternative to government money. So its a bit odd that the outback stable coins have such a large market share in the crypto space, its not just a philosophical thing either having this much exposure to fiat also increases our vulnerability to macro factors in the fiat world, including inflation and deflation. Fiat back stable coins have also become a primary target for regulators, who think that these assets are under their jurisdiction because of their close connection to government backed fiat melt also announced a partnership with the tingo network, which is nigerias largest mobile carrier.
So this technology will soon be in the hands of potentially millions of users lets just hope. Ken doesnt take any drives in a convertible through dallas anytime. Soon, partnering with mobile carriers is a key component in cardonas strategy. Another large partnership that was announced at the conference was a deal with dish network and its subsidiary boost mobile to provide a decentralized identity solution for its customers alone. These deals may not seem like much, but together they show how carnando is making moves on an international level to connect with legacy telecom companies and provide blockchain infrastructure for the millions of existing users that these companies already have. While telecom can certainly seem old and dumb. Its important to understand that they have the business and logistical connections, the blockchain needs to be adopted worldwide. Why snub your nodes in an infrastructure that already has made the political business and geographical gains that you want your technology to? Have you dont charles is smart, and he sees this as a way forward, as technology becomes more mainstream, most people end up interacting with blockchain platforms through their mobile devices, just as they do with web 2. Now this is especially true for the developing world, where cardano has established a strong foothold. Just think about how big this network can be of a large number of mobile providers around the world begin leveraging cardonos blockchain to offer web3 services to their customers. This is a plan that will play out over the next several years, which is why the rollout of the network has been so meticulous.
Everyone is in a rush to be first to market, and it makes sense because theres a ton of money to be made in crypto, especially during a bull run. But we really are so early and we have a long way to go until this industry reaches its full potential. Remember first mover advantage is only an advantage until it isnt it wasnt, really until the past few years that the traditional tech companies have taken over the world, but the industry was building and going through boom and bust cycles for over 20 years, getting larger and more Powerful each time this is the same type of growth that we have seen from blockchain, but hopefully the good guys will win this time. Around gaming is probably going to be one of the major use cases to push blockchain technology into the mainstream. Once gamers find out that they can actually earn an income and collect valuable assets, just by playing a game, they will never want to go back to the old model. Cardano has been making some big partnerships in this arena as well rival. One of the top easywords platforms has announced that it will be using cardano to allow its customers to mint and trade. Nfts rival is an established brand that has existing partnerships with major league sporting teams like the nfl seattle seahawks, the nbas detroit pistons, as well as the english premier league teams, aston villa and watford, and if you havent been keeping up with sports.
Let me tell you: the sports are all in for crypto rival is just one of many new projects that are bringing new models of ownership and revenue to athletes and fans alike. Once again, this is a major partnership with a mainstream industry leader that already has a massive network of users to tap into. This is a different strategy than many other layer. One projects may have taken so far, but i hope that by now you can see where this is headed. Critics of cardona will often say it will never succeed, because it will be too hard to develop a significant network effect. What these critics dont realize is that cardano doesnt need to have a dominant network effect in the blockchain space if it can tap into the existing networks. The corporations and governments already have to build out the future of the cardano ecosystem. Cardones development company mergo recently announced the launch of a 100 million dollar fund finance startups, focused on divi nfts and new applications on the cardano network. This is just one of several different development funds. Theyll be financing startups on cardano development on the network is also being funded by a one billion dollar community treasury called project catalyst and input. Outputs c fund vc firm, focused specifically on cardano. With all this funding id say they have a cornucopia of gains ahead. Thats, all i got be blessed good boy out. Candles fibs crosses emas, its the tools of the day trade dont, be a noob and train all websites that dont give you bit boy.
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