Cardano Establishes Multiple Partnership at the Cardano Summit 2021
- The partnerships are set to drive the adoption of Cardano.
- The Cardano Foundation’s new partners include veritree, Rival, and AID:tech.
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The Cardano Foundation, a non-profit organization acting as a custodian of the Cardano blockchain, announced a number of strategic partnerships aimed at driving the adoption of the blockchain platform. The partnerships were first unveiled during the Cardano Summit 2021, a mix of virtual and real-world events around the world that celebrated the launch of Cardano’s smart contract capabilities.
“Strategically, the partnerships announced today serve to create the foundational structures Cardano needs to prosper from both an enterprise and technical perspective,” said Frederik Gregaard, the CEO of the Cardano Foundation. “Our new ecosystem partners cover a range of challenges and opportunities at the forefront of global society today, including climate change, NFTs, decentralized finance (DeFi), and digital identity, and they will play a pivotal role in helping us realize our vision.”
The first major partnership announced at the Summit was with veritree, global land restoration and tree planting verification company. The company will use Cardano to secure its records and provide tree planters around the globe with immutable, transparent, and auditable blockchain-based reports on all of veritree’s afforestation and reforestation efforts.
Cardano has also partnered with esports and gaming platform Rival to develop NFT marketplaces and fan rewards for the company and its partners, as well as fintech venture studio and fund UBX, which launched its own public stake pool on Cardano.
A partnership was also established with AID:tech, which will use the Cardano blockchain to provide identity-based solutions for finance, payments, and insurance.
- The long awaited Vasil upgrade had finally been activated, enabling increased network capacity, higher throughput, and lower transaction costs on Cardano.
- The upgrade gas also made significant improvements to the Plutus smart contract language, though its full capabilities will be unlocked on 27 September.
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- Cardano’s native token ADA has become the fourth asset to be supported by Sygnum’s staking platform, the rest being ETH, ICP, and YTZ.
- Although Sygnum first debuted its crypto staking service two years ago, it has already become an integral part of its business.
- On 26 December U.S. users will loose the ability to open new positions in ADA and TRX, and by 31 December will no longer be able to stake the tokens.
- eToro will limit the selling of the assets sometime in Q1 2022, after it has made its wallet compatible with ADA and TRX.