Cardano (ADA) Finally Makes The Much-Awaited Debut In Japan. Why Is This Important?

Cardano (ADA), the third-largest cryptocurrency by market capitalization, has finally been listed on the Tokyo-based crypto exchange, Bitpoint.

The latest development makes it the first Japanese exchange to ever list Cardano (ADA). The cryptocurrency started to trade in Japan on 25th August 2021, at 8:30 AM Local Time.

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Cardano (ADA) has now officially joined a number of digital currencies such as Bitcoin (BTC), Tron (TRX), XRP, Ethereum (ETH), Bitcoin Cash (BCH), and Basic Attention Token (BAT), on Bitpoint.

Why Is This Important?

This is important because it helps to validate and boost the reputation of Cardano (ADA) across the world. The country has strict regulations when it comes to listing digital currencies on exchanges. In order to protect citizens, cryptocurrencies come under rigorous scrutiny in Japan.

Charles Hoskinson Reacts to the Development

In excitement, Charles Hoskinson, the creator of Cardano (ADA), posted a haiku poem composed by the most famous poet of the Japanese Edo period, Matsuo Basho.

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Charles Hoskinson tweeted, “Ada launching in Japan in ten minutes. I’ve waited a very long time for this day. Congratulations and thanks to the community there: A monk sips morning tea, it’s quiet, the chrysanthemum’s flowering.”

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Cardano’s Goguen era is closer to completion. Once smart contracts functionality is launched on 12th September 2021, Cardano will proceed to the Basho era, which will boost the scalability and interoperability of the proof-of-stake (PoS) blockchain.

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