Summary of the 2021 Cardano Blockchain Summit

0
76
Summary of the 2021 Cardano Blockchain Summit
Summary of the 2021 Cardano Blockchain Summit

The highly anticipated Cardano blockchain 2021 summit has come and gone. The meeting left the community excitedly looking forward to the promise of a new blockchain generation. The Alonzo upgrade has helped bring Cardano’s network capabilities closer to industry standards. 

In this article, we will be summarising the meeting. 

The network ascertained the Hydra Layer 2 scaling solution as  the next big thing after Alonzo upgrade, however, the network needs to showcase its smart contract work before beginning a new project in the ecosystem.

Crypto Industry Partnerships

Cardano discussed two essential partnerships in the crypto space that will add new functions for integrating smart contracts. Chainlink and EMURGO were the two new partners of Cardano.

Chainlink partnership will help provide high-quality data and help developers create accurate and workable DeFi Smart Contracts

Its partnership with the global blockchain solutions provider, EMURGO, will provide $100 million to the Cardano ecosystem to accelerate DeFi and NFT education in this area.

Partnership With Other Industry

In another announcement, the Network confirmed its plans on expanding into other industries. Cardano integrates Dish Network into its blockchain to create a digital identity system for food consumers.

The Network expanded into esports. It partnered with the esports platform Rival to develop an agnostic NFT market that will expand into a growing market where companies or users can create, exchange or trade digital goods in the form of NFTs.

They want to expand into the artificial intelligence industry in another announcement, with the help of Grace, a robot designed mainly for the healthcare industry.

In conclusion, the network announced. It has launched a UTOX Alliance that will help expand and develop collaboration between developers in the Cardano UTOX ecosystem. In addition, the Blockchain plans on growing its network through partnership.