The cryptocurrency space continues to expand and users need to be educated about different aspects of the industry
Cardano is one of the world’s leading cryptocurrency projects. Over the past few years, it has grown tremendously and has now become the third largest cryptocurrency by market cap, just behind Ether and Bitcoin.
Cardano’s business and venture capital arm, Emurgo, announced at Cardano Summit 2021 yesterday that it will invest $ 100 million in cryptocurrency education. The funds will be used to educate people about blockchain efforts on Cardano.
They will also use the funds to boost decentralized financing (DeFi) and non-fungible token (NFT) solutions on the blockchain. Cardano is one of Ethereum’s main rivals, and the funds could go a long way in strengthening the NFT and DeFi applications currently available on the blockchain.
We will carry out an investment of 100 million dollars to accelerate the development of the Cardano ecosystem.
Please contact us if you would like to receive investment funds, our network, information and management support.
We will create a dedicated operation from 2022. https://t.co/m0uwiptMOx
— Ken Kodama (@KenKodama_Biz) September 26, 2021
Emurgo CEO Ken Kodama stressed that the investment will accelerate development within the Cardano ecosystem. Cardano has achieved excellent performance in recent years thanks to investments from Emurgo.
Emurgo is one of the founding companies of Cardano and is popular for providing solutions to businesses, governments and developers. Cardano has become the third largest cryptocurrency by market capitalization thanks to the deployment of smart contract features through the blockchain.
Separately, Cardano founder Charles Hoskinson donated $ 20 million to build the Hoskinson Center for Formal Mathematics at Carnegie Mellon University (CMU). The center will focus on researching mathematical theorems by discovering proofs, verifying steps, and certifying correctness using computers.
The Cardano blockchain now houses some NFT and DeFi projects. However, it wants to develop further and possibly compete with Ethereum in terms of NFT, DeFi, and other smart contract features. Another blockchain that competes with Ethereum and Cardano is Solana.
The Solana blockchain is one of the most widely used in the cryptocurrency space, and many investors are optimistic about the project. DeFi and NFT sectors are expected to experience massive growth in the coming years, and these smart contract blockchains will likely lead to adoption.
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