Cardano projects seem to pick up pace since the Alonzo upgrade which allows the smart contract functionality. Since I am holding Cardano myself I am very interested in the future projects that might run on the Cardano blockchain. In this article I will look at some of Cardano’s projects. Before we start the obligatory note: This is not financial advice but only for entertainment purposes!
Concurrency Issue
Before we jump into the projects we should take a look at some issues that the projects are having. One of the main issues is the concurrency issue. So what is concurrency? It means that multiple people can use an application at the same time. Unfortunately, Cardano’s system works like this. If you want to buy an apple at a store you will pay with a 10 dollar bill. The apple costs only 1 dollar, so the cashier has to give you 9 dollars back. While this process is being executed another customer can not buy another apple because this process has to be finished first. But luckily, a lot of projects found a solution to this problem.
SUNDAESWAP
Sundae Swap is a DEX like Uniswap and potentially will be Cardano’s leading DEX. What so special about it is that it will be fully decentralized unlike other DEXs. It will contribute its initial token via its initial Stake pool offering. It will distribute 55% of its tokens to the community by the time it will launch. It is also posting consistent news on its website.
DRUNKEN DRAGON GAMES
This is an NFT game on the Cardano blockchain (similar to Axie Infinity on Ethereum). Basically, you are supposed to build a tavern. All of the furniture are NFTs that can be traded and earned. Furthermore, players can take on quests from visitors of the tavern. This sounds very exciting and has a lot of potential in my opinion. Unfortunately, this game is supposed to come out in 2024 but the NFTs of this game are already selling for a crazy amount of ADA!
MELD
This projects makes it possible to lend and borrow tokens on Cardano. It is also supporting fiat currency lending and borrowing which will require KYC (Know your customer). It is also trying to link its services with polygon. This would be exciting news since this would connect to the ETH-Blockchain. A mobile app and a debit card is in development which would allow users to spend fiat AND crypto currency!
ARDANA
This project will make it possible to mint a USDC using ADA as collateral. It will allow users to mint stable coins USD by staking ADA. This would provide a high amount of liquidity and eventually new uscases. DANA holders will have governance over the projects and will earn some revenue in the form of DANA and eventually ADA. You can check out their website. It is describing everything in more detail than I ever could!
CONCLUSION
ADA has one of the biggest community which is a very good argument for Cardano. Unfortunately, this brings a burden for the developers. It means that their applications will be overrun by this amazing community. If this happen the developers will get bad press. I think it is just a matter of time until these projects will launch and I am exciting of many more exciting projects to come!
Published by ga38jem on Publish0x on the 22th of September 2021
