Cardano to Boost On-Chain Developer Features for Network Growth
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Cardano (ADA), a blockchain technology company, recently announced its plans to improve its ecosystem by releasing new features for developers to utilize in the near future. Input Output Global (IOG), the host company behind Cardano, has stated that developers will be able to use a technology that will be made available in the coming months to develop sidechains.
The goal of this new initiative is to improve the overall experience for both users and developers within the crypto space by utilizing the capabilities of the Cardano ecosystem.
This update was shared on Twitter by the official page of IOG, a company that specializes in blockchain engineering. Along with the announcement, the company also released a document that provided detailed information on the toolkit that they plan to launch. It has been reported that developers have already begun using the toolkit, indicating a positive response to the new features being made available.
⛓️ The #Cardano sidechain toolkit was previewed at #IOScotFest, and we’re happy to share the first iteration is out now.
Here’s the lowdown on this exciting new project! https://t.co/Ny9tQuJh5K
— Input Output (@InputOutputHK) January 12, 2023
The developers will be able to choose the type of mechanism on which the side chain will be based, as well as what features the deployed apps will have. The firm expects that this new functionality will increase Cardano’s adoption and growth while also making more sidechains available in the future.
Cardano Stablecoin DJED on Track for Launch: COTI
In related news, COTI, the blockchain payment platform in charge of rolling out Cardano’s stablecoin Djed (DJED), recently disclosed that it intends to enable staking for DJED upon the release of version 1.1.1 on the mainnet, reassuring the community that the stablecoin is still on schedule to launch in January 2023.
We are pleased to share recent updates on Djed's progress and development, such as staking, monitoring tools and more. We are still on track with the launch that has been planned for January.
Read more: https://t.co/tPIZG5SzaG$COTI $DJED pic.twitter.com/hcj1vIJjpQ
— COTI (@COTInetwork) January 13, 2023
COTI announced today via its official Twitter account and a press release that the staking effort aims to give incentives to SHEN token owners. Remember that the payment platform announced SHEN in February last year as the reserve token to be utilized for maintaining DJED’s peg. The model for keeping the peg was also made public the previous year.
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