Another piece of good news is that the Cardano network (ADA) will accommodate the presence of the first stablecoin, Djed as a result of the work of software development firm COTI.
The matter was announced personally by Cardano founder, Charles Hoskinson and COTI CEO, Shahaf Bar-Geffen through Cardano Summit today Malaysian time.
Djed will play an important role in promoting the growth of the Cardano ecosystem, especially since the network supports smart contracts through Alonzo’s hard fork.
It ensures price stability with values close to $ 1 through algorithmic design, including ensuring effective decentralized financial transactions (DeFi) through Chainlink co -integration.
The introduction of Djed has great potential to improve how transactions at Cardano are conducted, as Hoskinson claims: "Djed will be a game-changer in the crypto industry."
Arguably since partnering with Cardano’s stablecoin hub, ‘Ardana’ in September, this is COTI’s biggest project.
At the time of writing, the ADA is trading at $ 2.26, up 0.15% in 24 hours. While COTI on the other hand recorded a decrease of more than 1 % with a current value of 0.52 %.
