Ardana (DANA) is a protocol developed on the Cardano platform with the aim of enhancing transaction efficiency between stablecoins. To better understand how it works, its outstanding features and the development roadmap of Ardana (DANA) refer to the article below.
Ardana is a DeFi hub built on the Cardano blockchain. Ardana provides Cardano’s users with tried and tested DeFi primitives that will catalyze and sustain its financial ecosystem. The first is a decentralized stablecoin platform that enables users to leverage supported Cardano native assets by generating stablecoins against them; the second is Danaswap, which enables high-efficiency swaps between stable asset sets, and provides a venue for liquidity providers to earn trading fees & DANA rewards for their liquidity provisioning.
Ardana is an ecosystem of independently functioning, yet symbiotically operating DeFi protocols on Cardano. From a DeFi macro-perspective, Ardana & its constituent protocols have been designed individually & collectively to function as a financial base layer for the nascent Cardano decentralized economy by using historically proven protocol models based on capital efficiency, stability, and composability.
Cardano’s native blockchain is divided into two separate layers to fulfill different tasks and improve overall efficiency. They are:
The Cardano blockchain operates using a proof-of-stake (PoS) consensus mechanism for discovering new blocks and adding transaction data to the blockchain called “Ouroboros.” This PoS system involves ADA holders locking up, aka “staking,” their coins in pools operated by other participants or becoming operators of stake pools themselves.
While anyone can run their own staking pool, it does require a level of technical expertise to do so successfully. Rewards for adding new blocks to the chain are distributed among the stake-pool operator and stakers after every epoch finishes (5 days), proportionate to how many coins are staked in the pool by each person.
The more coins collectively held in a stake pool, the greater the chance it will get randomly selected to become a slot leader and add the next block in the chain. Think of staked coins like lottery tickets. While having more tickets increases your chances of winning it doesn’t guarantee you will. To prevent giant pools from dominating the system, each staking pool is governed by a “saturation parameter” which essentially offers stake pools lower rewards once they reach a certain capacity to incentivize ADA stakers to relocate their coins to smaller pools.
The Ouroboros consensus system is different from Bitcoin’s proof-of-work (PoW) system, which requires users to compete using specialized computer equipment to discover the next block and has no built-in feature that discourages monopolistic mining operations (other than the fact that bitcoin’s value depends on its being controlled by no one).
In order to create new blocks, Ouroboros uses a time-period system called “epochs” where each epoch lasts five days. Inside each epoch, there are 21,600 smaller units of time called slots, or one slot every 20 seconds. Stake pools are randomly assigned to each slot as a “slot leader” and tasked with creating a new block for that slot.
Cardano uses the EUTXO (Extended Unspent Transaction Output) accounting model for its transactions which is an extension of the standard UTXO model enabling expressive smart contracts while keeping the semantic simplicity of the UTXO model.
Updating…
More information at: CLICK HERE
DANA is used to:
Updating…
Cardano has set a new record for more than 100 smart contracts completed just two days after the release of the highly publicized Alonzo Hardfork. Plutus’ smart contract capabilities, which broke a contract record of 100, confirm the seamless integration of the new upgrade. The success came as a victory for Cardano after a flood of complaints about its smart contract inefficiencies flooded in the lead-up to its release.
With the new milestone, Cardano will seek to become the new haven for decentralized applications (DApps), decentralized finance (DeFi) applications, and non-alternative tokens (NFTs). There are already over 780,000 NFTs minted on its platform.
Ardana has crossed the mark of 54,000 Followers on Twitter
The goal of the Ardana platform is to create an ecosystem that can provide financing options to token holders while also providing them with the opportunity to earn. Matovu (project founder) and his associates have achieved this goal by leveraging the power of the Cardano ecosystem.
Find more information about Ardana:
Website: https://ardana.org/
Twitter: https://twitter.com/ardanaproject
Whitepaper: https://docs.ardana.org/
Telegram: https://t.me/ardanaofficial
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Elise
Coincu Ventures
Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…
The Bitdeer convertible notes offer a 42.5% conversion premium, allowing conversion into cash with the…
Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
This website uses cookies.