Cardano is a decentralised platform that will allow complex programmable transfers of value in a secure and scalable fashion. It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. Luna is the reserve currency of the Terra platform. It has three core functions: i) mine Terra transactions through staking, ii) ensure the price stability of Terra stablecoins and iii) provide incentives for the platform’s blockchain validators.
Making wood from the fallen tree? What is certain is that Hoskinson did not miss the opportunity and after what happened with LUNA y UST gave back to the CEO of Earth a facetious comment he had made long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. ago when things were not going well for Cardano.
The CEO of IOHK/IOG and principal developer of Cardano, Charles Hoskinson, spoke out about the commotion that has been generated by what happened with Earth, the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. LUNA and the stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. UST, claiming that the treasury of the project he heads currently has some USD $723 million of ADA and which operates in a fully decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. manner.
The comments of Hoskinson
Hoskinson’s statements came on the heels of several posts made through his Twitter, in which he took the opportunity to pronounce himself in relation to the current situation that the team is going through. Earth with UST, while highlighting some of the benefits of the Cardano to shield themselves against such problems.
ADA funds in the treasury
Firstly, he referred to Cardano’s treasury, which has some USD $723 million in ADA, claiming that it will grow over time and that it operates in a completely decentralized way. In this sense Hoskinson recalled that it aims to finance projects that will operate on its network. Blockchain, which contribute to generate growth within its ecosystem of products and services.
“And that’s only going to grow. Cardano has its own growth fund and it’s decentralized!”.
This was also confirmed by Sebastian Guillermot, founder of dcSpark, who echoed Hoskinson’s statements and let it be known that the treasury of Cardano could have collaborated in the desire to
“In fact, we have two big announcements in terms of tools coming in the next two weeks.”
In addition to the above, there are also messages posted by IOHK, in which he highlights that Cardano’s ecosystem continues to grow and that it is already close refers to the closing price; similar to the same term used in stock trading. to 1,000 projects operating on its Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. network:
The #Cardano ecosystem continues to grow and flourish.
— Input Output (@InputOutputHK) April 26, 2022
Wood from the fallen tree? Teasing about Earth
Another of the most controversial tweets posted by Hoskinson targeted the Terra ecosystem, in which he mocked what was happening with its associated currencies.
In view of the fall in the prices of UST y MOON, Hoskinson took advantage of a tweet originally posted by the founder of Earth, Do Kwon, where he indicated that he would choose to buy ADA due to negative correlation, and the developer of Cardano took advantage of the current situation and returned the same question in what could be interpreted as a retaliation:
Should I buy some Luna for negative correlation? https://t.co/iFeHJTSudM
– Charles Hoskinson (@IOHK_Charles) May 10, 2022
Let’s keep in mind that the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. LUNA has so far lost almost 90% of its value compared to its historical highs, which also coincided with the fall in the stablecoin price. UST, which lost parity with the U.S. dollar and fell to a low of around USD $0.65.
Hoskinson did not stop here and also took the opportunity to respond to a tweet addressed to billionaire investor Mike Novogratz, message in which he showed a message with his moon a situation where there is a continuous upward movement in the price of a cryptocurrency. Often used in communities to question when a cryptocurrency will experience such a phenomenon, saying “When moon?” It is usually combined with “When Lambo?” tattoo, and in which he wrote the following:
“I’ve always wondered why investors and crypto media love certain altcoins and hate Cardano. I really don’t get it.”
I’m always wondering why the VCs and cryptomedia love certain alts and hate on Cardano. Just can’t figure it out….. https://t.co/zAfHQYrAFN
– Charles Hoskinson (@IOHK_Charles) May 10, 2022
Stablecoins on the network a network refers to all nodes in the operation of a blockchain at any given moment in time. of Cardano
Lastly, the remarks about what happened with UST y LUNA come into place at a time when Cardano también se prepara para ver a sus dos primeras stablecoins operando sobre su red, siendo más destacable el caso de Djed, project by COTI, which is already operating in beta phase.
Among the plans of COTI is that the launch of Djed on the mainnet an independent blockchain running its own network with its own technology and protocol. will take place sometime in June, making it the first stablecoin within this ecosystem.
Let’s keep in mind that the network is also preparing for the arrival of a new large-scale upgrade called Vasil, which would implement operational improvements to the network, paving the way to optimize the operation of smart contracts within the network to the maximum within Cardano.
- Terra founder Do Kwon announces plan to save UST as LUNA slips 90%.
- Prior to UST, Do Kwon created another stablecoin project that also failed: report
- IOST and COTI announce plans to launch algorithmic stablecoins that will operate over Cardano network
Source: Twitter, Cryptoslate
Version by Angel Di Matteo / DiarioBitcoin
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