ADALend Eyes Being Cardano Native, Enables True Democratic Financial Solution
- ADALend will provide its users a self-governed environment native to the Cardano blockchain.
- ADALend geared toward becoming Cardano-native.
- ADALend is included in Input-Output Hong Kong (IOHK) “Essential’s Cardano List” of projects.
ADALend, a scalable, trustless and decentralized lending protocol is being developed to provide its users a self-governed environment native to the Cardano blockchain. It is expected that through this partnership, the network will be able to aggregate protocols that support business models, supporting billions of customers.
To achieve this goal, the CEO of ADALend Kaspars Koskins gave some important key points in a recent interview. He explained that the network will be an innovative lending platform supported by smart contracts.
Kaspars added that the ADALend will enable them to extend loans to those who are in need. These loans will be using blockchain technology without the interference of any middleman and the bureaucracy of traditional lending.
The platform will serve as a store of value, so users’ assets will grow in value as the demand increases while you are earning a return on your money, Kaspars Koskins said.
On the other hand, it is not a new story how the Ethereum network faces its challenges against its transaction fees. As a result, users and investors are now looking or transferring to a network that provides them low fees with faster processing time.
The technology of Cardano is a blockchain that solves these problems that ETH is currently facing. As per Kaspar, Cardano is more decentralized and reliable compared to any other network in the market, including Solana. He stated that the Cardano network is the only genuinely decentralized blockchain that has the security, speed, and low transaction fees needed to provide a truly democratic financial solution that every person on the planet can use.
Meanwhile, ADALend is geared towards becoming a Cardano-native, which is being developed with Haskell and Plutus while working within the constraints of Smart Contracts on the Cardano Blockchain. Kaspar notes,
ADALend has been included in Input-Output Hong Kong (IOHK) “Essential ‘s Cardano List” of projects that support and provide Cardano users with products and services. They are also on CardanoCube.io, with the Business Development team hard at work on some exciting partnerships that they will announce soon.
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