While the market is in panic, Cardano (ADA) is taking major steps with another new collaboration. This time it is about the Cardano -based project Midnight that goes into the sea with the blockchain security giant Openzeppelin. Via a message on X, Cardano founder Charles Hoskinson said he was “very enthusiastic”.
Easier and safer
To properly understand this collaboration, it is useful to first zoom in on Midnight. Midnight is a cardano project that is completely about zero-knowledge data protection. With smart tools it helps developers to build privacy -friendly decentralized applications (Dapps), without having to compromise on security or regulations.
Within this collaboration, Openzeppelin in turn brings a wealth of experience in the field of blockchain security and smart contract development. For example, the Blockchain security company will develop a special Smart Contract Library, complete with standards and a starter package of apps for Non-Fungible tokens (NFTs), Real World Assets (RWAs) and Decentralized Finance (Defi). This makes it easier for developers to build privacy -oriented applications, while they benefit from the strong security that Open Zeppelin offers.
Impact Ada Koers
In the short term we do not yet see a major impact on the ADA Koers. In fact, the price fell by more than 15% last week. But that is mainly due to the broader negative sentiment in the cryptomarket. Compared to his local peak in December, when the rate came to $ 1.21, the decrease is around 45%.
But, you only see the real impact of these types of collaborations in the long term. Because developers can now build high -quality applications faster and more efficiently, it is becoming increasingly easier to add valuable applications to the network. This can ultimately not only strengthen the ecosystem, but also increase the demand for ADA.
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Source: https://newsbit.nl/nieuwe-samenwerking-voor-cardano-oprichter-hoskinson-is-erg-enthousiast/
