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Beginner’s Guide to Cardano’s First Stablecoin, Djed

Beginner’s Guide to Cardano’s First Stablecoin, Djed


Cryptoknowmics
2022-05-27 16:30:02

Cardano, one of the world’s leading blockchain networks, is set to expand its portfolio by releasing its algorithmic stablecoin,$Djed. The open-source blockchain network is highly regarded for its scalability, sustainability, interoperability, and security features, making it among the best in the world. Thus, banking on the success of the network and the need for Cardano-based stablecoins, djed is set to be released later on in 2022. Thus, a thorough introduction to stablecoin and its features will be conducted in this explainer. All About $Djed In the race to supply the need for a Cardano-based stablecoin, COTI, a software development company, was first to produce tangible results. This development would see the company launch the algorithmic stablecoin on a touted platform to oust Ethereum. Recently, COTI placed itself ahead in the race to complete a Cardano-based stablecoin by running the first testnet. The coin’s release is set to drive growth in the blockchain’s budding ecosystem. The release of this coin is set to be impactful amidst speculation that the release may be as close as a few weeks away. However, COTI, IOG, or IOHK have yet to issue a public statement about the coin’s exact date of release. Budding Design The blockchain network uses an intuitive design that fixes most of the issues associated with blockchain. Djed is an algorithmic stablecoin that gains its stability by acting as an autonomous bank. Stablecoi...


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