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A scalable, reliable and decentralized lending protocol called ADALend is being developed to allow users to operate in a self-governing environment. They have made a commitment from the outset to build seamlessly on the Cardano blockchain, which will allow the lending platform to aggregate protocols that support business models that finance billions of customers.
According to a recent interview with ADALend CEO Kaspars Koskins, the company will be an innovative platform for lending digital assets backed by the technology of smart contracts. The platform will allow its users to give loans to those who need them. Forget the middlemen and bureaucracy of traditional lending; Take advantage of the decentralization offered by blockchain to control your assets while making a profit. The platform will act as a store of value, so users’ assets will increase in value because you are getting a return on your money when demand increases.
Kasper’s View on Decentralized Cardano
Kasper further explained how Ethereum is plagued by problems. The first issue is the cost of transaction fees involved in sending the payment. Because of these fees, Ethereum is currently being displaced by other more efficient and cost-effective networks for users around the world and users in other regions around the world that are more sensitive to high transaction costs than transaction value.
Kasper firmly believes that Cardano is more decentralized and reliable than any other network currently on the market, including Solana, which is highly centralized. He explained that Cardano is the only truly decentralized blockchain that has the security, speed, and low transaction fees needed to provide a truly democratic financial solution that can be used by everyone on the planet.
Towards Cardano-Native Platform
In terms of technology, ADALend will be able to take advantage of the huge digital currency management market using the Cardano blockchain. ADALend enables blockchain-powered liquidity by allowing anyone to hand over their digital assets and make them accessible for loans. The platform is set to become Cardano-native, being developed with Haskell and Plutus working within the constraints of smart contracts on the Cardano blockchain.
Kasper noted that ADALend has been included in the Cardano List of Input-Output Hong Kong (IOHK “Required”) projects that support and provide Cardano users with products and services. They are also on CardanoCube.io, and the business development team is working on some exciting partnerships, which they will announce soon.
More information about ADALend: https://adalend.finance
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