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The altcoin price of ADA has plunged 50% over the past three months, and investors were disappointed by the slow development of the ecosystem. Despite the past hard fork, which opened the blockchain for the development and launch of smart contracts, Cardano cannot yet boast of the full development of the DeFi industry.
Project founder Charles Hoskinson promised the community yesterday that things would change dramatically in 2022.
Literally in the first months of the new year, a full-fledged DeFi system will be deployed on Cardano, by the efforts of the blockchain developers – the IOHK team. The first to appear is the Djed dollar stablecoin with an algorithmic rate peg formula. Following it, IOHK will release a p2p exchange linked to the ADA Pay payment system, which already operates on the blockchain.
DeFi projects will be represented by a landing platform and an insurance protocol. All of the above smart contracts will immediately find their clients in Africa. Back in 2020, the IOHK developers signed interstate agreements with Kenya and Tanzania, within the framework of which decentralized protocols are being “built”.
Disclosing the plans of his team, Hoskinson recalled that 127 startups are currently engaged in the development of smart contracts, of which 20 or 30 will be released on the blockchain during the first quarter. Cardano will also release a separate open source corporate sidechain, designed like a Linux-based Hyperledger network.
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