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A scalable, trustless, and decentralized lending protocol called In development to allow users to operate in an autonomous environment. They have promised from the outset to build natively on the Cardano blockchain, which will allow lending platforms to aggregate protocols that support business models that provide financial support to billions of customers.
According to a recent interview with ADALend CEO Kaspars Koskins, the company will be an innovative platform for digital asset lending powered by smart contract technology. The platform will allow its users to make loans to those in need. Forget the middlemen and bureaucracy of traditional lending; take advantage of the decentralization provided by blockchain to control your assets while earning profits. The platform will serve as a store of value, so while you get your money back, your users’ assets will appreciate as demand increases.
Kaspar’s take on decentralized Cardano
Kaspar went on to explain how Ethereum is plagued by problems. The first issue is the transaction fee required to send the payment. Because of these fees, Ethereum is currently being replaced by other more efficient and cost-effective networks for users from all over the world and in other parts of the world that are more sensitive to high transaction costs than transaction value.
Kaspar firmly believes that Cardano is currently more decentralized and reliable than any other network on the market, including the highly centralized Solana. He explained that Cardano is the only truly decentralized blockchain with the security, speed, and low transaction fees needed to provide truly democratic financial solutions that everyone on the planet can use.
Towards a Cardano native platform
On the technical side, ADALend will be able to take advantage of the huge digital currency management market by leveraging the Cardano blockchain. ADALend enables blockchain-powered liquidity by allowing anyone to delegate their digital assets and make them available for lending. Aiming to be Cardano-native, the platform is being developed with Haskell and Plutus while working under the constraints of the Cardano blockchain smart contracts.
Casper went on to point out Has been included in Input-Output Hong Kong’s (IOHK “Essential) Cardano List” of projects that support and provide products and services to Cardano users. They are also on CardanoCube.io and the business development team is working on some exciting partnerships that they will announce soon.
More about ADALend: https://adalend.finance
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