In a recent Nasdaq article, Nasdaq says Cardano could be described as a “by the people, for the people” type of currency.
In the article Nasdaq admires Cardano and IOHK efforts to make a world a better place.
— IOHK Media (@IOHKMedia) June 10, 2021
The Article Writes:
What’s great about Cardano is its relatively large market capitalization and its fairly low price point.
Founded in 2015 by Charles Hoskinson and launched in 2017 as a tradable token, Cardano could be described as a “by the people, for the people” type of currency.
IOHK, the company behind Cardano, plans to use its blockchain technology to make the world a better place – even going so far as to revamp Ethiopia’s education system.
Moreover, it’s been revealed that IOHK is preparing to build a bridge with another future-forward crypto project. Could we be witnessing the blockchain’s “Bluetooth moment in 2021?
This event is, in my estimation, grossly under-reported in the media. I think it has the potential to be a watershed moment in the history of the blockchain.
I’m referring to a major plan to enable interoperability between the Cardano and Nervos Network (CCC:CKB-USD) platforms within the next six weeks.
If you’ve never heard of Nervos, don’t be nervous (sorry, I couldn’t help myself). It’s the number 113 ranked cryptocurrency, according to CoinMarketCap.
As reported by the development team behind Cardano, Nervos and IOHK intend to build a bridge between the two networks, thereby furthering their goals of discovering the industry’s “Bluetooth moment.
Sure, that might sound bombastic. But think about it: collectively, the two crypto ecosystems are worth billions of dollars in terms of market capitalization.
It’s the first “bridge” of this type ever built by Cardano, and the two companies are giving it a name reminiscent of the Star Wars film series: the Force Bridge.
Beyond the cool name, what’s special about this particular crypto bridge?
For one thing, it will enable users to interchangeably transact with the two networks’ native currencies, CKB and ADA.
The upshot of the Cardano-Nervos bridge could be greater freedom for the end users. With this development, they won’t necessarily be locked into one particular blockchain.
As I see it, this represents a win-win for CKB and ADA holders. And on a larger scale, it should provide far-reaching benefits for the broader crypto ecosystem.