Charles Hoskinson states that over 3,000 smart contracts are to
be deployed on Cardano. These applications are in a time locked
contract waiting to be deployed over the next couple of months. An example
is an application called Liquid which is a liquidity and lending service. Cardax,
sundae swap and a rewards token called Green. A large assortment of stable
coins will also be coming to the Cardano network. NFT projects are already
active and selling out. It is also rumored that Cardano will launch an app store
which will provide a layer of security and transparency to the Blockchain. All
apps will be vetted by Cardano and ones in the app store that have not
received it’s stamp will have a disclaimer attached to it which will notify the
consumer that the app did not meet the requirements of Cardano and is not a
vetted application. Cardano stated they will not use this app store to be a
gatekeeper to what apps will be used on the chain, this is why applications
not vetted or that have been determined not to meet the standards of
Cardano will still be available to purchase at the risk of the user. Just like any
Blockchain applications that are not considered “Blue chip” pose more risk of
fraud and security issues.
MAJOR ANNOUNCEMENTS AT CARDANO SUMMIT
Big news announced at the Cardano summit . There were many things
discussed at the Cardano summit this year and I am sure many were satisfied
within the Cardano community about what has been announced. The two
biggest takeaways of importance to me are Cardano’s partnership with Dish
network corporation and Chainlink.
The Partnership with Dish Network corporation brings the world of
global telecoms and Blockchain together, the first collaboration of its kind.
This also brings great opportunities for Dish customers and will assist the
growth in usage of Cardano’s ADA token. Dish Network Corporation (Boost
Mobile) with Cardano will produce 8 million digital identities (D.I.D) on phones
and Satellite. Cryptopotato.com reports that this partnership will allow millions
of Dish users to have network connectivity with Cardano and not have to
worry about the influence of centralized corporations. If successful , it could
turn into the default business model for the telecom space.
The partnership with ChainLink is major because Chainlink is a
decentralized Blockchain oracle network built on Ethereum. It is designed to
exchange data from off-chain sources to on-chain smart contracts. The
transfer of that data through ChainLink is said to be tamper-proof. The
process is combined with extra secure hardware and removes any reliability
issue that would occur. The partnership goal is stated to accomplish the task
of providing access to a wealth of secure data allowing and equipping
Decentralized Finance (DeFi) with the tools to build and produce a less costly
and more inclusive global economic system.