EMURGO made a formal announcement on April 11th, revealing its new partnership with Huawei. The alliance aims to accelerate the development and adoption of Cardano-based Web3 solutions, particularly within the rapidly growing Asian and African markets.

Read Also: $100,000,000 Allocated To Boost Cardano (ADA) DeFi Adoption 

Key Details of the Partnership

EMURGO will establish a Cardano Validator Node on Huawei Cloud, a move that seamlessly integrates Huawei’s robust cloud infrastructure into the Cardano public blockchain network. This integration gives Cardano developers access to Huawei Cloud’s vast computing resources, creating an ideal environment for building innovative Web3 applications.

Huawei will also feature Cardano on its Marketplace, a platform prominent among major businesses. This inclusion grants Cardano increased visibility and potential for enterprise-level adoption. Both companies seek to enhance the overall interoperability and scalability of Cardano’s cloud capabilities through this strategic collaboration.

Statements on the Collaboration

Expressing excitement about the partnership, Ken Kodama, CEO of EMURGO, emphasized the shared objective of furthering Web3 adoption and cultivating trust and transparency within the cloud computing environment.

Huawei Cloud Singapore’s Managing Director, Rex Lei Yang, conveyed similar enthusiasm, noting that the partnership offers access to Cardano’s extensive Web3 developer community.

EMURGO’s Vital Role in Cardano

EMURGO, founded in Japan in 2015, is a founding member of the Cardano protocol and serves as a key driver in its commercial development and expansion. The company fosters strategic partnerships, offers educational programs, supports investments, and builds infrastructure to maximize Cardano’s potential.

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Read Also: Cardano Advancement: IOG Is Building Light Wallet for Browsers and Mobile Phones with In-Built Dapp Store

Potential Implications and Future Outlook

The collaboration between EMURGO and Huawei marks a pivotal first step, setting the stage for future ventures. It aligns with EMURGO’s broader mission to introduce Cardano into major economies. Huawei Cloud’s established presence and enterprise connections, particularly in Asia and Africa, could pave the way for the widespread adoption of Cardano-based solutions.

The partnership may also encourage other major cloud service providers to explore the benefits of integrating blockchain technology into their offerings. This could lead to a broader industry trend promoting the use of decentralized solutions in the cloud. As the collaboration matures, we can anticipate innovative use cases and projects that leverage the strengths of both Huawei Cloud and the Cardano blockchain.

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Cardano’s Competitive Edge

Cardano’s low-cost transaction model offers a distinct advantage over other blockchains and traditional financial systems. To illustrate this, the average Bitcoin transaction fee presently stands at $5.88, and moving tokens on Ethereum costs approximately $2.45. For large transfers, even services like PayPal or Western Union would charge fees exceeding Cardano’s by a significant margin.

Details of the Transfer

The specific transaction took place on March 20th. Following the transfer, the receiving address now holds a balance of 1.73 billion ADA ($1.07 billion). While the identity of the transacting entity remains unknown, the size of the transfer has led some members of the Cardano community to suggest the likely involvement of a centralized exchange. Notably, 1.32 billion ADA accounts for about 0.36% of Cardano’s total circulating supply.

The Evolving Cardano Ecosystem

Though Cardano sometimes attracts criticism, this large-scale, low-cost transaction showcases its inherent efficiency. Additionally, Cardano’s DeFi (decentralized finance) landscape continues to grow, providing further avenues for attracting users and capital. This focus on accessibility and cost-effectiveness, positions Cardano as an attractive network for a wide range of users and use cases.

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Technical Foundations and Implications

Cardano’s ability to facilitate low-cost transactions stems from its core design principles. It utilizes a proof-of-stake (PoS) consensus mechanism called Ouroboros.

Unlike the energy-intensive proof-of-work (PoW) model employed by Bitcoin, PoS systems achieve consensus through a network of validators who “stake” their ADA holdings. This approach significantly lowers energy consumption and enables faster, more scalable transactions.

The implications of Cardano’s cost-effectiveness extend beyond individual transactions. Low fees foster an environment conducive to microtransactions, where users can move small amounts of value without prohibitive costs.

This opens the door for innovative use cases in areas like gaming, decentralized marketplaces, and even small-scale remittances. Moreover, low-cost transactions can make the Cardano network more accessible to users in developing economies, furthering its goal of promoting financial inclusion.

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The report titled “State of Cardano Q2 2023” indicates a notable surge in decentralized application (DApp) transactions and total value locked (TVL), indicating increasing adoption and demand for DApps on the Cardano network. However, it also highlights a decline in ADA’s price, network activity, and staking metrics.

Read Also: Coinbase CEO: “worst-case scenario” Cardano (ADA) and 12 Others Will Be Delisted

Here are the key points in the report:

• Increased Dapp Transactions: Average daily Dapp transactions witnessed a 49% increase compared to the previous quarter, with Minswap experiencing the most significant absolute growth, accompanied by contributions from new Dapp launches.
• Growing TVL: The total locked value (TVL) in dollars recorded a 9.7% increase compared to the previous quarter and an impressive 198.6% increase compared to the previous year. Throughout 2023, Cardano climbed from the 34th to the 21st position in the TVL rankings across all blockchain networks.
• Rising Transaction Fees: The average transaction fee rose 8.5% from the previous quarter, reaching $0.126 from $0.117. Despite this consecutive increase, the average transaction fee (in USD) remains 50.8% lower year-on-year due to declines in ADA price.
• Declining Address Activity: The number of daily active addresses experienced a 4% decrease in Q2, dropping from 60,200 to 57,800. This marks the fourth consecutive decline in address activity over the past five quarters.
• Steady Transaction Volume: Average daily transactions grew by 1.9% from the previous quarter, reaching 68,800 from 67,500 transactions.
• Increased Blockchain Load: Cardano’s average blockchain load rose from just under 40% in Q1 to over 50% in Q2. In May, the average daily load reached 81.2%, a level not seen since the beginning of 2022.
• ADA Price and Market Capitalization: ADA’s price and market capitalization experienced a decline after a 53.5% gain in the first quarter. Despite a 26.9% decrease from the previous quarter, ADA still gained 12.0% year-on-year. However, ADA’s performance in Q2 lagged behind the overall crypto market, which registered a marginal 0.1% increase.
• Treasury Balance Sheet: Cardano’s Treasury balance sheet increased by 8.5% in Q2, reaching 1.30 billion ADA. However, the value of the Treasury in USD decreased by 20.7% compared to the previous quarter, declining from $452 million to $358 million.

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Read Also: Charles Hoskinson Announces Ambitious Goal to Onboard 5 Million People to Cardano Lace Wallet

Minswap, an important player in Cardano (ADA) decentralized finance (DeFi) sector, maintained its dominance in the liquidity space throughout the second quarter. It closed the second quarter with a TVL of $48.8 million and a dominant market share of 32.2%.

As Cardano continues to witness growth in DApp adoption and TVL, the price drop and declining network activity highlight areas for improvement. The insights provided by Messari’s report offer valuable perspectives on the current outlook for Cardano and its ecosystem as a whole.

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A New Feat for Cardano, Challenging Blockchain Norms

Dave, a passionate Cardano DEX and development enthusiast, shared the news of this achievement on the 26th of July, generating excitement within the community. This update underscores Cardano’s reliability and stability, placing it among the most trustworthy blockchains.

Read Also: Cardano Founder: Victory Against SEC is “One Small Step for XRP Nation, One Giant Leap for Crypto”

According to the disclosure, Cardano currently boasts of an impressive network uptime of 5.83 years. In other words, the blockchain, founded by Charles Hoskinson, has encountered no downtime issues in over 2,000 days and continues to thrive.

Dave further emphasized the network’s resilience, stating that it surpasses the uptime capabilities of even the largest service providers in the world.

Cardano has a current UPTIME of 2129 days exactly.
That's 5.83 YEARS with NO downtime.

Built to last, an uptime the largest service providers in the world cannot & will never come close to challenging.

Research Wins. We are Cardano. Choose Cardano. @IOHK_Charles @Cardano…

— Dave (@beaumont_dvd) July 26, 2023

Robust User Activity on Cardano Network

Cardano’s consistent uptime has encouraged more crypto users to engage with the network for various transactions. Remarkably, daily transactions on the network have consistently exceeded 60,000 in the past 15 days.

As of July 26, the total number of transactions executed on Cardano reached 68,757. Notably, the highest daily transaction volume recorded within the same 15-day period occurred on July 13 when the network processed an impressive total of 89,159 q  transactions.

The data on Cardano Scan Explorer reveals that as of July 27, the overall transaction count on the network stands at 72,264,823. Additionally, recent data from the platform highlights that approximately 22.79 billion ADA tokens are staked across 3,182 total stake pools.

Read Also: Australian-Based Lawyer: Classifying Cardano (ADA) as a Security is a “Regulatory Conspiracy”

As the number of users staking ADA continues to increase, a renowned crypto analyst predicts that the asset’s value may find stability against BTC in the third quarter of the year. Notably, Cardano founder Charles Hoskinson has previously disclosed that all of his ADA holdings are staked, showcasing his confidence in the platform’s growth.

Cardano’s uninterrupted uptime and the network’s thriving user activity demonstrate the platform’s resilience and potential as it continues to solidify its position within the blockchain industry.

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Making a comparison to the Bitcoin blockchain, Hoskinson noted that the Cardano ecosystem is growing in a decentralized way, shading off claims of network centralization and zero institutional interest in ADA from non-community members.

Read Also: Cardano Creator Hoskinson Ready to Make Peace with XRP Community. Here’s What He Said

He wrote, “Lots of noise in crypto. Look for the signal. Cardano is getting real adoption and growing as an ecosystem under the harshest conditions our industry knows. Like Bitcoin, this is being done in a completely decentralized way.”

This comment came in response to a tweet from a community member Chris O. The user highlighted the growth of the Cardano ecosystem in comparison to other top blockchains such as Ethereum, BNB Smart Chain and Polygon, etc.

According to Chris, Cardano has the fastest-growing decentralized finance (DeFi) ecosystem in terms of Total Value Locked (TVL). In addition, he noted that several institutions such as Grayscale, 21Shares and WisdomTree amongst others have demonstrated high interest in ADA. 

2. I guess, @Grayscale , @hongkongvac , @BitwiseInvest, @WisdomTreeEU Cardano ETP, https://t.co/CW8qPw54RK

21shares Cardano ETP https://t.co/uPRZ0gu9d5

Just to name a few institutional shops
. Guess these funds & indexes don’t exist or have $ADA AUM right? Lol. pic.twitter.com/IBMRqxHyKq

— Chris O (@TheOCcryptobro) June 28, 2023

Read Also: Australian-Based Lawyer: Classifying Cardano (ADA) as a Security is a “Regulatory Conspiracy”

Cardano TVL Surges 148% in 6 Months

Notably, between January 2023 and June 2023, Cardano’s TVL increased by 148%, which is greater than the TVL of any other blockchain network. 

As shown on the Spreadsheet shared by Chris on Wednesday, Cardano’s TVL stood at 265,000,000 ADA as of January 2023. Interestingly, it has risen to 657,000,000 ADA as of June 2023, indicating a growing adoption of the project by institutions and individuals alike. 

Data on the world’s leading multi-chain DeFi aggregator DeFi Llama corroborates these figures. However, the data analytic platform shows that Cardano’s TVL stood at 263.19 million ADA on January 1, 2023. At the time of writing, DeFi Llama shows an increase in the ecosystem’s TVL to 681.21 million ADA.

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Cardano (ADA), a proof-of-stake DeFi platform, is on the verge of a new expansion following the integration of VyFinance DEX protocol into the MuesliSwap DEX Aggregator.

The new integration hopes to provide Cardano users with unlimited transaction opportunities on the Cardano network. Simultaneously, the recent technology will offer Cardano enthusiasts a more diverse array of financial products.

Exciting news! VyFinance DEX protocol is now integrated into the MuesliSwap DEX Aggregator!
Explore limitless trading on Cardano, at unbeatable prices! #VyFinance #MuesliSwap #DeFi #DEX pic.twitter.com/TjUZoeCW3n

— MuesliSwap | Hybrid DEX on Cardano (@MuesliSwapTeam) June 4, 2023

Cardano Achieves Landmark By Beating Bitcoin In Total Value Locked

Intriguingly, Despite the bearish storm in the crypto market, Cardano’s latest market trends over the past few weeks were remarkable, which oversaw ADA tokens displaced BTC in total value locked.

Could Charles Hoskinson’s assertion be correct? Recall that in one of our previous news, Charles Hoskinson, the CEO of Input Output Global (IOG), predicted that ADA could surpass Bitcoin (BTC), Ethereum (ETH), and other top cryptocurrencies.

Per Cardano’s data on DeFiLlama, a crypto market data aggregator, the data aggregator predicted Cardano’s TVL worth to be an estimated $183.19 million, which implies that Cardano now ranks 15th on the TVL standings, a step ahead of Bitcoin, which has a TVL of $178.99 million.

Implications Of Cardano’s Latest Feat

The significant growth recorded in Cardano’s ecosystem signifies crypto users’ faith in the DeFi crypto platform. Also, Cardano has witnessed a massive increase in active user participation and other protocols on the Cardano network.

Per DeFiLlama, Cardano’s dedicated users increased a remarkable 2.69% in the last day, 9.37% in the past week, and a whopping  20% over the past month. On CoinGecko, Cardano is ranked sixth, selling at the rate of $0.373965 and is down by 1.8%.

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Milkomeda C1, Cardano’s Ethereum Virtual Machine (EVM) sidechain which delivers rollup technologies to leading Layer 1 blockchain ecosystems continues to record massive growth in terms of transactions and wallets created.

As per an update from Sebastien Guillemot, the Chief Technology Officer (CTO) and co-founder at Milkomeda, dcSpark, Paima Studios, and Flint Wallet, the team at Milkomeda is at the brink of launching key features that catapult the functionalities and user base of Cardano. 

This strategic feature planned to be introduced in April 2023 would make Cardano one of the largest EVM chains by user count, he revealed. 

More so, all Cardano EVM users will be able to stake and earn rewards as Milkomeda is on track to enable staking rewards for all EVM users including smart contract developers. This April-scheduled development would make the PoS-based Cardano blockchain the largest Ethereum Virtual Machine (EVM) with staking rewards fully operational, Guillemot added. 

Beyond these, Milkomeda aims at making Cardano a powerhouse for blockchain gaming as it plans to partner with Paima Studios, the first industry-leading layer-2 gaming engine. Because Paima works well with Polkadot wallets, Cardano could see an influx of Polkadot users into its ecosystem.  

Milkomeda CTO wrote: 

“Cardano will be a top EVM chain next month. Milkomeda (Cardano’s EVM layer) is launching a feature allowing every Cardano user to use EVM contracts directly from any Cardano wallet, All in pure ADA. This will instantly make Cardano one of the largest EVM chains by user count.”

“Not only this, but it will be the largest EVM chain with staking rewards fully operational! Milkomeda is soon enabling staking rewards for all EVM users, including smart contract developers. Build in Cardano’s EVM layer and get paid automatically every 5 days!”

“Cardano is poised to be a powerhouse in on-chain gaming as well through Paima + Milkomeda. Paima not only works in the Cardano ecosystem, but you can even use it from Polkadot wallets, bringing all Polkadot users to the Cardano ecosystem!”

Paima Studios confirmed this expected development in a Thursday tweet. “A critical piece of infrastructure for on-chain gaming is coming to Cardano after a successful Astar Network release,” the team wrote. 

A critical piece of infrastructure for on-chain gaming is coming to #Cardano after a successful @AstarNetwork release

— Paima Studios (@PaimaStudios) March 30, 2023

Notably, Astar Network is a blockchain project that supports the building of DApps with EVM and WASM smart contracts while offering developers true interoperability with cross-consensus messaging.

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While Bitcoin and other popular blockchain networks such as Ethereum Classic are based on the proof-of-work (PoW) consensus mechanism model, the Cardano blockchain is a proof-of-stake (PoW) platform that combines the Ouroboros consensus protocol to function. 

Founded in 2017 by Charles Hoskinson, Cardano is regarded as the first proof-of-stake (PoS) blockchain protocol developed with high scalability in mind. As a  proof-of-stake network, Cardano supports multiple validators which verify and approve transactions before they are added as new blocks to the network.

Notably, Cardano is also the first blockchain to implement Ouroboros — the first peer-reviewed, verifiably secure blockchain protocol. The Ouroboros protocol enables the Cardano network to remain completely decentralized, and sustainably scalable with robust security.

In addition, the blockchain network is built to complete transactions at a very fast speed. Also, it is an environmentally friendly technology as it does not support crypto mining which requires high energy consumption. 

History of Cardano (ADA)

Charles Hoskinson, the CEO of the blockchain engineering company Input Output Global (IOG) and a co-founder of Ethereum began the development of Cardano in 2015. But the PoS-based blockchain was launched in 2017. 

Since the launch of Cardano, it has positioned itself as an alternative to Ethereum due to its improved functionalities and cost-friendliness for users and developers. 

Owing to this and its ability to process more transactions per second when compared to the Ethereum network, Cardano was once dubbed the ‘Ethereum killer’. 

What is ADA?

ADA is the native currency of the Cardano network. By market cap, ADA is one of the biggest cryptocurrencies. At the time of writing, it has a circulating supply of 34,713,746,685 ADA with its maximum supply capped at 45 billion units. 

ADA touched its all-time high of $3.09 on September 2, 2022, while its all-time low of $0.0183 was recorded on October 26, 2017. 

How to buy Cardano? 

Following the four steps below, you can easily buy Cardano: 

1. Choose your preferred crypto exchange

The platforms that bring buyers and sellers together and facilitate cryptocurrency trades are known as crypto exchanges. 

While there are many crypto exchanges, not all support ADA. Therefore, to buy ADA, you must choose an exchange that supports the popular token.

2. Fund your account 

After opening an account on your favorite exchange,  you have to fund it with either a  stablecoin such as USDT, other cryptocurrencies, or fiats. 

3. Buy ADA

The next thing is to buy. Simply select the ADA trading pair you want to trade. Then, using a market or limit order, you can buy any volume of the token. 

4. Store ADA

 It’s necessary to create a hot or cold crypto wallet where you can store your crypto tokens. 

There are various types of wallets where you can store your tokens including ADA. While some prefer hardware wallets, paper wallets, and software wallets, some investors choose to store their assets on crypto exchanges. Whatever method you adopt, it is important to store your assets where maximum safety is guaranteed.

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According to the data shared by Cardano Daily, Djed stablecoin saw a massive growth of over 14,587%.

Read Also: Cardano-based Token (SHEN) Holders Will Receive Rewards for ADA Deposits: Details

Cardano Daily tweeted, “UNIQUE ACCOUNT GROWTH ON CARDANO DAPPS The chart below showed the growth of the unique accounts in terms of Dapps on Cardano. According to the statistics, @DjedStablecoin is having the most significant growth, 14587% growth. What a start!”

UNIQUE ACCOUNT GROWTH ON CARDANO DAPPS

The chart below showed the growth of the unique accounts in terms of Dapps on Cardano. According to the statistics, @DjedStablecoin is having the most significant growth, 14587% growth. What a start!#cardano #account #growth pic.twitter.com/V8RdKJK7H6

— Cardano Daily (@cardano_daily) February 6, 2023

On the 31st of January 2023, as reported by Times Tabloid,  Djed stablecoin was released on the mainnet after a year of development. So, within just days of launch, the much-anticipated stablecoin has started to attain unimaginable heights.

As reported by COTI network about two days ago, after the launch of Djed on the mainnet, a total of 28 million ADA were made available on the platform. Some hours later, it was reported that the stablecoin has attained a reserve ratio of 800%, which implies that no additional SHEN token could be minted until the ratio was reduced.

Read Also: Cardano Developers Launch New Toolkit Supporting Ethereum-Compatible Sidechains

Howbeit, users will still be able to mint and burn DJED. Also at the time, 1.85 million DJED were minted, and 40,000 were burned.

On the 3rd of February, COTI’s Treasury received the first batch of Djed operational fees. A conversion of ADA to COTI was done on the open market, and the COTI was funneled to the treasury as a reward to its participants.

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A blockchain firm, Coti, in collaboration with Cardano’s core developer Input Output Global (IOG) developed the newly launched stablecoin.

Djed aims to be used on decentralized finance (DeFi) protocols in the Cardano ecosystem as a stable alternative to volatile digital currencies.

Read Also: Cardano-based Token (SHEN) Holders Will Receive Rewards for ADA Deposits: Details

Each stablecoin will be over-collateralized by 400-800% with Cardano’s native asset ADA — while using SHEN as a reserve coin. This over-collateralization makes it similar to the dai stablecoin in the Ethereum ecosystem, but it has a minting and burning mechanism like other algorithmic stablecoins.

Djed is expected to be integrated into 40 applications within the Cardano ecosystem. It already received support from decentralized exchanges, including MinSwap, Wingriders, and MuesliSwap.

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