Cardano (ADA) Founder Charles Hoskinson said in a recent interview that the ADA ecosystem is “open for businesses.”
According to the founder, the ADA ecosystem continues to grow and add new features such as new decentralized exchanges (DEX), NFT marketplaces, oracles and stablecoins.
Hoskinson, one of the founders of ADA and Ethereum altcoins, stated that the ADA network has many tools for businesses to come to life, such as low fees, high transaction processing and decentralization.
Cardano has been successfully using a decentralized management process to fund small teams looking to migrate to Cardano through the Project Catalyst Fund.
More than 500 projects and initiatives have been funded in the ADA ecosystem by thousands of users who want to shape the future of the network.
“#Cardano is open for business” – @IOHK_Charles
Our asset-backed stablecoin will give businesses the assurance and security to operate freely in an otherwise volatile industry.
With the stability and security of $USDMwe’re building an unrelenting onboarding force for $ADA. pic.twitter.com/ZfhRgqvYn8
— Mehen Finance (@MehenOfficial) July 2, 2022
Cardano Users Expect Significant Stablecoin Release
As it is known, one of the most important things for a decentralized network is the existence of a stablecoin solution backed by a high number of developers and economists and able to withstand selling pressures.
Cardano is already preparing for the launch of multiple stablecoin solutions that can act as a bridge between the ADA network and fiat currencies and attract more investment into the ecosystem.
We recently reported that the Djed token, which will work as the Cardano ecosystem’s own algorithmic stablecoin, will be released around September.
Unfortunately, the diversity of solutions on the network and strong decentralization do not help ADA outperform in the market as the entire industry struggles with low inflows and high risks.
*Not investment advice.