The Cardano Foundation partnered with EMURGO to launch a joint project to support the ecosystem of the blockchain protocol
Partnership
The Cardano Foundation and EMURGO have established a project in which the two organizations will pool their resources and efforts to stimulate the creation of a community-generated and maintained tool stack to support the Cardano ecosystem and expedite decentralized application development.
The first stage will consist of the initial release of the Chain Watcher as well as a proof-of-concept backend. Five Binaries will also create blockchain adapters, which are plug-in components that can be used to connect Cardano blockchain data via various approaches. The Cardano Foundation will interact with a variety of partners and initiatives across the ecosystem during the second stage, MVP2. During this phase, anybody seeking the addition of a new adapter or backend must adhere to the project’s development rules.
Cardano will establish a staking tool after the successful deployment of both of these crypto projects’ resources, and that stake tool will aid the Cardano Blockchain network in bringing rapid decentralized application development. Before the launch of SundaeSwap, a much-anticipated decentralized exchange platform on the Cardano blockchain, Cardano just topped Ethereum ($ETH) in transaction volume. Cardano wallets surged by over 1,200 percent year over year, from 190,000 to 2.5 million, demonstrating that the cryptocurrency’s network is gaining popularity, thanks in part to smart contract integration.
Quotes
Ken Kodama, EMURGO CEO, said, “EMURGO fully supports the development of valuable Cardano infrastructure components and we are excited to contribute towards its development by a team with an experienced track record. With smart contract functionality now supported on Cardano, the new tool stack will provide developers with further useful options to build socially impactful dApps on Cardano.”
Frederik Gregaard, CEO of the Cardano Foundation, said, “The development of this tool stack, in partnership with EMURGO, will further enable a vibrant, inclusive ecosystem for third-party smart contract development on Cardano. This is the first of a set of open source architecture we are looking at and are excited to push this forward now. We want to provide tools to and support to the community and to ensure we enable the architects of the future.”
