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IOG: Multiple DeFi and DApp Projects Are Currently Being Tested for Deployment on Cardano

According to Input Output Global (IOG), the software firm behind the development of Cardano, multiple decentralized finance (DEFI) and decentralized application (DApp) projects are currently being tested for deployment on the Cardano blockchain.

Going by a tweet shared by the software firm led by Charles Hoskinson, some of these projects are expected to launch soon.

Read Also: Cardano Founder Is Passionate about Fixing Decentralized Finance (DeFi) Sector

IOG tweeted, “Multiple DeFi & DApp projects have begun testing & will soon deploy on Cardano. It is as exciting as it is hard to follow.”

Charles Hoskinson Plans to Utilize Blockchain to Facilitate Affordable Loans through DeFi

Charles Hoskinson, the creator of Cardano (ADA) had said that the smart contracts platform will continue its quest for further expansion this year.

In a video shared a couple of days ago, Hoskinson spoke of his plan to utilize blockchain to facilitate affordable loans through DeFi. He also discussed some outlined technological milestones for 2022, especially his ambition to make Cardano the settlement rail.

Read Also: Charles Hoskinson Shares the Development update Of Djed as the Cardano-Based Stablecoin Closer to Launch

Charles Hoskinson noted:

“My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano.

He said what is going to happen in 2022 is that “a formal open-source project structure is going to be formed, kind of like Hyperledger to Linux. We’re going to see many institutions wired in, and all the people that are currently working on it will be novated over, including me…

Read Also: Cardano (ADA) Is Now a Payment Option for Payments Network Flexa at Over 40,000 Locations

“When you look at things like enhancing Plutus, there’s already three CIPS [Cardano improvement proposals] as a result of the work we’ve done with developers that need to come in.

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“We have pipelining that needs to come in, input endorsers that need to come in. Peer-to-peer is currently being tested with the stake pool operators on the testnet, and there’s lots of stuff happening there…

“We’re staging things appropriately, and we’re starting to see a refinement of the science of things. The adoption’s there. The community’s there. We’ve grown to about two million people.”


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