A scalable, trustless, decentralized lending protocol called ADALend is being developed to allow users to operate in an autonomous environment. They committed early on to natively build on the Cardano blockchain, which will allow the lending platform to aggregate protocols supporting business models that provide economic support to billions of customers.
According to a recent interview with Kaspars Koskins, CEO of ADALend, the company will be an innovative platform for lending digital assets backed by smart contract technology. The platform will allow its users to provide loans to those in need. Forget the middleman and bureaucracy of traditional loans; take advantage of the decentralization offered by the blockchain to control your assets while making a profit. The platform will act as a store of value, so user assets will increase in value as demand increases while you earn a return on your money.
Kaspar’s take on decentralized Cardano
Kaspar went on to explain how Ethereum was plagued with issues. The first issue is the cost of the transaction fees needed to send a payment. Due to these fees, Ethereum is currently being replaced by other more efficient and profitable networks for users around the world and other regions of the world who are even more sensitive to the high transaction cost compared to the value of the transaction.
Kaspar strongly believes that Cardano is currently more decentralized and reliable than any other network in the market, including Solana, which is highly centralized. He explained that Cardano is the only truly decentralized blockchain that offers the security, speed, and low transaction fees needed to provide a truly democratic financial solution that every person on the planet can use.
Towards a Cardano-native platform
In terms of technology, ADALend will be able to take advantage of the huge digital currency management market by using the Cardano blockchain. ADALend enables blockchain-powered liquidity by allowing anyone to delegate their digital assets and make them available for lending. The platform aims to become Cardano-native, which is developed with Haskell and Plutus while working within the constraints of Smart Contracts on the Cardano Blockchain.
Kaspar went on to note that ADALend has been included in Input-Output Hong Kong’s (IOHK “Essential)” Cardano list of projects that support and provide Cardano users with products and services. They are also on CardanoCube.io, with the business development team hard at work on exciting partnerships which they will announce soon.
Learn more about ADALend: https://adalend.finance
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