Cardano Transforming DeFi by Launching ADA on Coinbase Pro

Coinbase, a cryptocurrency exchange platform, took to its blog to announce the integration of Cardano (ADA), a digital currency of open source network Cardano. Coinbase is a US-based crypto exchange intending to be a global leader in crypto space enabling open financial systems which made news in the latter part of 2019 with the launch of an app Coinbase pro. Cardano is an open-source cryptocurrency network that supports smart contracts and has its native currency ADA. As per the blog, users can begin the integration process from March 16; however, transactions will begin from March 18 this year.

With the announcement on the blog, Coinbase appealed to the users to add digital currency ADA on Coinbase Pro platforms. The recent development is carried at the behest of the existing Coinbase community, which will result in establishing a strong presence of the company in the Decentralized Finance (DeFi) market. The news media captured the reaction of Charles Hoskinson, Founder at Cardano. He mentioned that Cardano successfully changed the trajectory with its initiative of integrating the Mary Fork protocol, which will benefit many players like Coinbase. This protocol upgrade has led to the soaring popularity of Cardano in the DeFi space, which is set to attract at least 100 new projects soon.

Cardano Transforming DeFi by Launching ADA on Coinbase Pro

With an unstoppable zeal to introduce innovative solutions in the crypto space, Cardano has roped in Ask the Doctor, a leading global digital health provider. The media reports mention that the health provider will now switch their native token AskToken to Cardano. This move is aimed to find a fair solution to mounting gas fees of Ethereum token, which was used before Cardano.

The media reports stated that one of the founding members stated that this would bring relief to a major portion of the population who have no access to basic medical facilities. This development will reward them with tokens and educate them alongside. Ask the Doctor first made its entry into the African market because it aimed to bridge a major gap between the population seeking medical attention and adequate healthcare solutions and healthcare-related education. The team at Ask the Doctor, along with Cardano, looks forward to breaking several health-related taboos by educating the population in Africa.

What revolutionized Cardano’s presence in the real-world assets is its introduction of the Mary Fork protocol back in February 2018. This innovation paved the way for innovations in utility tokens, governance tokens, and other cryptos that support real-world assets. The non-fungible tokens supported by Cardano’s network will not only create cutting-edge solutions in the digital space but also change the terms of real-world usage. This means that Cardano’s ADA currency can be used to convert into Non-Fungible tokens (NFTs), and these NFTs can later be transformed into digital assets or real-world assets.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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