Cardano News Today – What Do Cardano Commercial Deals Mean for the ADA Token and the Blockchain? October 5th, 2020 

  • IOHK Has Announced 90 Upcoming Deals for the Cardano Blockchain
  • What Do These Deals Mean for the ADA Token and the Cardano Blockchain
  • Cardano ADA is a Serious Need of a Bearish Surge 

Cardano News Today – The Cardano development team has been the busiest this year. Despite the Coronavirus pandemic, they were able to release the Cardano Shelley hardfork successfully and are now on the way to the next phase of development, Gougen. In their recent blog post, the company IOHK announced that the Cardano blockchain has about 90 upcoming deals in the pipeline. They also talked about how central banks in Africa have approached Cardano to discuss possible Central Bank based cryptocurrencies.

Cardano News Today – Commercial Deals for Cardano and What They Mean for ADA

In his latest AMA, Charles Hoskinson said that the team will work on two to three updates this month. One will make the Daedalus wallet faster and one will improve the nodes among others. The Daedalus project is currently receiving the most attention from the team. They are working on the boring center, identity center, paper wallet, voting center, and QR center. IOHK is also working with external bodies to create packages that contain the code of each new feature. These codes will subsequently be integrated into the Daedalus wallet.

Hoskison made it clear that he intends to make Cardano highly competitive in the decentralized finance space. In his words;

“And again, with the Daedalus workstream where we paralyze things, we gonna do the same thing with the Plutus and Marlow. And we will start outsourcing components that don’t have to be done by the core team. And they can be done in parallel. […] So if it is simply an issue of more cost and there’s labor available, we will always accelerate that. Because I want to get to the business-building applications. I’m excited about the DeFi space, really excited about dapps and tired of saying let’s wait a little longer.”

The projects that are currently in the pipeline for Cardano will increase exposure for the Cardano and the ADA token as well. The Cardano community on Twitter has been excited about the upcoming projects and the Cardano ADA token is in desperate need of strong fundamentals. At the time of writing, the price of the ADA token was $0.097636. It is up by 3.43% against the USD and up by 2.76% against Bitcoin BTC. The trading volume over 24 hours was $606,886,459 and the market capitalization was $3,037,686,208.

If their plans work, and banks start using the Cardano blockchain to create tokens, this will lead to the widespread adoption of the blockchain and eventually the token. Hoskinson said that there are strategies in place for the Central Bank Based Cryptocurrencies.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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