Charles Hoskinson, the CEO of Input Output Global (IOG), who created Cardano (ADA), the largest proof-of-stake (PoS) blockchain, has shared a development update from COTI, a firm that currently builds Djed stablecoin in conjunction with IOG.
On 24th December, COTI shared a development update in relation to the launch of the much-awaited stablecoin, Djed. According to the update, the launch of the stablecoin is around the corner.
Read Also: Charles Hoskinson Questions BitPay’s Choice of Listing Shiba Inu Ahead of Cardano after a Poll
COTI tweeted, “As we are getting closer to the launch of Djed stablecoin, we are pleased to share some updates on the development and progress of: *The current Djed Plutus Implementation *Next Milestones.”
Reacting to the update, Charles Hoskinson, the creator of Cardano (ADA), said he’s glad to see the progress of COTI in the quest to make the launch of Djed stablecoin a reality.
Charles Hoskinson tweeted, “Glad to see Coti making great progress with Djed.”
The article is based on the details of the current Djed Plutus implementation and the next milestone. It’s said that they are working on main contracts that will help provide oracle exchange rates, enable users to submit multiple orders at the same time, cancel orders, among others. The implementation is currently in the test phase.
According to the update, a pre-released version will be delivered in the next few days for UI integration.
Read Also: Cardano Rolls out New Peer-to-Peer (p2p) Testnet to Enhance Network Decentralization
COTI devs added that the pre-released version will provide endpoints for: “Querying the stablecoin bank reserve, Querying buying and selling prices for stablecoins /reserve coins, Querying list of pending orders, Submitting orders and canceling pending orders, and Implementation of configuration management contact responsible for version control and contract upgrades.”
Djed is designed to leverage smart contracts to maintain a base coin reserve in an autonomous bank, which will also operate using smart contracts. This will give users the ability to trade stablecoins and use them for decentralized finance (DeFi)-based transactions.
In a strategic move to expand its presence in the French cryptocurrency market, Cayman Islands-based…
The crypto market offers a golden chance right now. Major coins show strong recovery signals…
A recent analysis by prominent cryptocurrency analyst EGRAG CRYPTO (@egragcrypto) shed light on the potential…
Fox Business journalist Eleanor Terrett reported on November 15, 2024, that a group of Republican…
Standard Chartered has made an interesting prediction in line with the most recent wave of…
With the crypto market poised for its next significant upswing, experts are highlighting digital assets…