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Cardano: Hoskinson reveals myriad projects – Uniswap clone, Coinbase?

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  • Cardano inventor Charles Hoskinson revealed numerous partnerships and projects that will be made public in March.
  • IOG will try to port the most popular decentralized exchange on Ethereum, Uniswap, to Plutus.
  • Still to come in February is “a big liquidity announcement” – Coinbase?

In a video for Twitter, Charles Hoskinson, CEO of IOG, talked about birds (“Coming Birds”). The inventor of Cardano (ADA), however, did not become an ornithologist, but spoke metaphorically of birds tweeting him the latest news and announcements. With that in mind, Hoskinson kicked off by saying that “a lot of stuff is coming, a lot of announcements are coming and really cool announcements for Cardano.”

First, towards the end of the month, the Mary hard fork will take place on the mainnet. The fork will integrate native assets into the Cardano network. Immediately following the HFC event for Mary, IOG will release the Plutus testnet, which “will basically be the foundation for the launch of ‘Alonzo,’ the Q2 HFC event that brings Plutus to the network,” Hoskinson revealed.

Partnerships, partnerships, partnerships for Cardano

Later in the video, Hoskinson talked about numerous partnerships. Although he couldn’t reveal any details, the potential of the announcements he leaked was enormous. The announcements will kick off after the Mary hard fork in March:

Silvio has been working very closely with a strategic partner of ours, Runtime Verification, and it keeps growing and growing and growing, we keep bringing more and more partners in, and keep making more progress.[…]

March gonna be all about Goguen. We gonna announce some partners we have, we gonna announce these cool things that are coming for it, and also on how we are planning on testing things.

As Hoskinson let slip, there are numerous projects in the pipeline that will migrate to Cardano. Further, IOG itself is undergoing efforts to establish a DeFi ecosystem. The company will port Ethereum’s currently most popular decentralized exchange, Uniswap, to its own smart contract platform. Beyond that, a partnership with Celsius Network is also in the pipeline. However, Hoskinson wanted to leave the announcement to its CEO Alex Mashinsky.

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We gonna run a lot of experiments. I’m very interested to see if we can take something like a Uniswap and reimplement it in Plutus. We are working with some real token partners, the publicly announced one is SingularityNET. Alex Mashinsky is kind of gnarly about some things. So I leave him to talk about what he’s doing with us.

Hoskinson also fueled the Coinbase rumors. As he stated, IOG will bring new infrastructure partners on board and will also make “a major liquidity announcement” before the end of February. Of course, Coinbase is just speculation, but it would likely be the biggest liquidity announcement to come. Hoskinson said:

We are also going to be announcing over the next 60 to 90 days a series of infrastructure partners for off-chain infrastructure, a new wallet support, and there’s also a big liquidity announcement that’s coming, but I can’t say anything about that. It was promised to me this month. We’ll see what happens.

Regarding the strategies of Plutus, Yella and the new Alpha Frontier program, Hoskinson revealed:

We’re also bringing on two dedicated development firms and their job is just to do nothing but write lots of Plutus code to be the hell out of the Alonzo testnet and verify that everything … [is fine].

There’s a huge strategy for Yella, a huge strategy for the KEVM that Runtime Verification is going to do. We gonna roll out that in the Alpha Frontier program in March as well.  […] [We] gonna roll out this whole concept of Alpha Frontier and what we are doing with K is a specification language.

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A dedicated dApp store, a university and Africa

No less interesting might have been the announcement that IOG is developing an app store for dapps. IOG has been investigating an app store internally for over three years and has now found a good way to implement the idea, he said.

Further, Hoskinson revealed a “very high probability” that IOG will make an announcement about a partnership with a university within the next 60 to 90 days. Specifically, a dedicated software development center will be established that will focus on the development of smart contracts. IOG will make a donation to the university for this purpose, and involve commercial companies. On the current status, the IOG CEO said:

So we gonna make an announcement at some point of which university is the lucky winner. We’re playing bachelor right now, deciding which rose to give.

Last but not least, Hoskinson also referred to the “big commercial deals” in Africa, with John O’Connor already revealing last week the secret that Cardano has signed a deal with an African nation, making 5 million people of the country Cardano users.

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There’s a major commercial deal that starts leaking. […] We are ready, but the government is not quite ready. But my understanding is that it is in the final stage. […] We believe that is going to occur in February. […] This is a major deal, involving 5 million people. John O’Connor said some things about that […]

Cardano

The World Comes Together on Cardano Summit 2021 from Sydney to Vancouver

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Cardano community have to state that from Sydney to Vancouver, via Perth – we’re bringing the world together around Cardano for the Summit.

Bringing the Cardano Summit 2021 to VANCOUVER! Celebrate discussing blockchain capabilities and mingling with fellow Cardano Community members.

Regional promotions and calls are viral everywhere on Twitter pages and social media networks:

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Calling all Perth based Cardanians.  We’re hosting the #Cardano Summit Perth event this Sunday, 26 Sep from 2pm-9pm!

Who’s in Johannesburg? Have you registered for the Cardano Summit 2021? Only a few days to go and only a few spots available – sign-up now to save a seat.

Join the Cardano Summit 2021in Kumasi to learn about the emerging cryptocurrency revolution, blockchain technology and digital finance.

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If you’re in or near Accra, Ghana, register for the event below to be part of the Cardano Summit 2021 – the biggest Cardano event ever.

Great lineup of speakers for the Cardano Summit India. SPOs, Projects, DApps, community engagement activities and more.

Cardano Summit 2021 Lagos Nigeria will be held on September 26, 2021. At Eko Hotel and Suites there will be free T-Shirts, Hoodies, and water bottles for early attendees. Stay tuned for further updates or call.

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It’s going to be the BIGGEST, BADDEST Cardano event there ever was! 40 Community-led events 32 Countries, 60 Community hosts, and 7 Main summit events.

For those who are new, Cardano is an excellent blockchain technology that serves as the face of a secure and sustainable blockchain facilitating ground-breaking use cases.

Cardano focuses on tackling issues faced during blockchain adoption on a large scale. Cardano seeks to reign issues like scalability, interoperability, and sustainability through the development of design principles and engineering best practices.

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The world comes together on Cardano.  One week from now, IOHK and Cardano teams and the global community will gather for the biggest blockchain event ever for a mix of virtual and live events from around the world.

Initially Cardano was able to deal with 10 transactions per second.  However with Hydra Layer 2 scaling arrangement Cardano will be able to handle more than 1,000,000 transactions per second.

Ouroboros a chain-based PoS protocol relies on randomly chosen leaders to approve blocks. Just like other blockchains, the node that adds the next block receives a reward for its efforts.

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Cardano is energy efficient, Cardano: 6-gigawatt hours; Bitcoin: 130 terawatt-hours; Ethereum: 50 terawatt-hours.

Community response:  Pump Cardano. I am so excited about it.

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Following the latest ‘non-event,’ what next on the price front for Cardano

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It has been almost two weeks since Alonzo went live on Cardano’s network. The narrative before the hard fork was largely conformist, one that proclaimed ADA’s price would soon surge to new heights after its release.

The hard fork, however, turned out to be a ‘non-event‘ and did not impact the token’s price much. In fact, in the days that followed the release, ADA’s price dropped to as low as $1.98. Ergo, one may argue that ADA, just like the market’s other tokens, became a victim of the pessimistic broader market trend.

Well, the same holds true to a certain extent, particularly because ADA’s dependency on the market’s other cryptos has increased over the last couple of weeks. In fact, it now shares a correlation of 0.78 and 0.74 with Bitcoin and Ethereum, respectively.

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Apart from this, the deteriorating state of on-chain metrics has created a cascading effect on the alt’s price. So, unless and until the same improves, a price trend reversal seems to be out of the question.

State of the network

Well, inspecting the state of the network would give us a fair idea about the direction in which Cardano is heading. As per data from CardanoScan, the transaction count on the network has been quite stagnant over the last couple of days, despite crossing 111k on 17 September.

This, quite obviously, indicates that not many people have been using Cardano’s network of late.

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Source: cardanoscan.io

What’s more, the average transfer value too has been spending more time towards the lows of late. Notably, the same witnessed a massive spike during the initial few days of September but subjected itself to a freefall right after that. The active address ratio as well, for that matter, has been on the decline. The same fell from 9.17% to 2.45% over the period between 7 to 24 September.

By and large, this implies that users who have been active are merely trying and testing the network at this stage. One can argue then that the Cardano market is devoid of some solid momentum at the moment.

However, there’s a silver lining to this scenario too.

Source: Messari

All’s not lost

As far as Q4 is concerned, a host of launches are already lined up for Cardano. The introduction of Cardax DEX would allow users to trade ADA for other native tokens. Notably, the exchange would have its own utility token – CDX. Further, GREED is also set to launch as one of the blockchain’s first tokens.

Additionally, right from Liqwid, an open-source and non-custodial liquidity protocol, to SingularityNET, a platform that lets users create and monetize AI services at scale, several noteworthy projects are set to make use of Cardano’s ecosystem in the coming weeks. In effect, a new set of users would be using the blockchain.

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Thus, unless and until Cardano’s adoption hastens up, a prominent trend reversal seems to be unlikely. In effect, only if the aforementioned future events actually end up contributing to the network’s growth, it would make sense to anticipate a direct impact on the altcoin’s price.

Thus, it’d be interesting to see if the ‘non-event’ tradition continues or Cardano successfully frees itself from the shackles of the same.

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Cardano Partners with Chainlink to Integrate Oracles for Advanced Smart Contracts

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Cardano joins forces with Chainlink to provide extra support for developers building smart contracts by integrating oracles

The Cardano team has just published a blog post, announcing a partnership with Chainlink that will result in integrating Chainlink’s oracles. These will help developers build smart contracts for Cardano DeFi apps.

The collaboration was announced during the Cardano Summit today, on September 25.

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Cardano teams up with Chainlink

Chainlink’s oracle networks supply data to blockchain networks and allow smart contracts to work with results of elections, sports statistics, crypto rates, etc. They can also operate weather data (Chainlink is now working with some fintech companies that are bringing parametric insurance to South Africa) and other types of data as well.

Chainlink oracles help run hybrid smart contracts on any DLT network. Presently, Chainlink secures billions of USD in DeFi apps, gaming apps, platforms related to insurance and other top industries.

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Chainlink to power Cardano smart contracts

The integration of these oracles in the Cardano DLT will allow dev teams to supply institutional-grade data provided by Chainlink into their smart contracts. The oracles will support prediction apps that deal with sports data, weather data necessary for parametric insurance apps; they will be applied in the sphere of gaming and digital collectibles, like NFTs, etc, via multiple partnerships.

Founder of IOHK Charles Hoskinson stated that Chainlink oracles are necessary for advanced smart contracts and they will provide real-world data to the Cardano blockchain. He emphasized that Cardano intends to provide developers with best tools for creating solutions that will be of actual use.

Hoskinson believes that Chainlink oracle integration will also provide a perfect foundation for the DeFi ecosystem on Cardano.

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