Cardano News Today – Cardano Foundation Provides Extensive Outline of How They Intend to Create a Self-sustaining and Decentralized Ecosystem – October 8th, 2020

  • The Cardano Foundation has Just Released its Strategy for Reaching its Goal of a Self-sustaining and Fully Decentralized Ecosystem
  • The Foundation has Put Certain Companies in Place to Work on Making this Dream a Reality
    Cardano ADA Finds Stability Above the $0.0930 Level

Cardano News Today – The Cardano Foundation has made its plans for the self-sustaining development of the Cardano ecosystem known to the public. An executive of the Foundation, Elliot Hill, in an article yesterday, noted that they are working on giving Cardano community members a better chance to participate in the development of the blockchain. Hill believes that a self-sustaining environment is important now more than ever as they try to become smart contracts compatible like their biggest competition, Ethereum.

Cardano News Today – A Self-sustaining Cardano Will Overthrown Ethereum

The complete strategy is listed on the official website but the summary is that these improvements will come during or after the implementation of the next phase of Cardano’s development, Goguen. Hills said that every part of the Cardano Community will have a slice of the figurative developmental cake. This will, in turn, create; “a bustling ecosystem with multiple opportunities for innovation and incubation of ideas, […] where every ecosystem participant feels empowered to work together to achieve common goals. It will bring a new paradigm to the highly siloed and compartmentalized communities elsewhere in blockchain”:

It is going to be all about collaboration. He continued;

“Moving forward, the Cardano Foundation will become the catalyst for this collaborative spirit, leveraging its position as a guiding force for Cardano and enabling fast-track value creation for inclusive and equitable growth of the protocol. Above all, the Cardano Foundation will seek to connect innovators, developers, enterprises, and our dedicated existing community to facilitate this growth. A great example of a unique blockchain use case is Cardano’s implementation in the tracing of beef through agricultural technology startup BeefChain, who are working with IOHK to trace beef from field to fork. There are a number of other similar initiatives and partnerships coming soon, so watch this space.”
If the Cardano Foundation reaches its goal, things are going to change for the better in the decentralized computing industry. Despite the fact that the Cardano blockchain is more scalable than Ethereum, Ethereum is still the leading decentralized computer. When smart contracts come to Cardano toward the end of the year, a will come one step closer to overthrowing Ethereum. However, a truly self-sustaining and decentralized ecosystem is what Cardano needs.

Cardano ADA Finds Stability Above the $0.0930 Level

In other news, the Cardano ADA token has found relative stability above the $0.0930 level. While the bulls are yet to return to the market and the resistance at the $0.1000 level remains strong, the support at the current $0.0930 level is holding the line and preventing lower lows near-term.

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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