The launch of a new project has been announced by Cardano Foundation, to boost third- party smart contract development in collaboration with EMURGO, the commercial arm of Cardano blockchain.
According to their official source, the two organisations will work hard together with united resources to create a tool stack to accelerate decentralized application development and support the Cardano Ecosystem.
The project itself will be divided into two phases MVP1 and MVP2.
The infrastructure development company Five Banaries, will build a modular tool stack for MVP1, where Cardano Foundation will reach out to other collaborators and projects across the ecosystem in the second stage MVP2, inviting them to contribute to the project.
Developing a second application backend for its ecosystem is quite essential as it might help increase the diversity to build solutions on Cardano, and will allow third- party developers to create variety of apps, while satisfying industry standards for smart contract-based infrastructure.
“ The development of this tool stack, in partnership with EMURGO, will further enable a vibrant, inclusive ecosystem for third- party smart contract development on Cardano” stated Frederik Gregaard,CEO of the Cardano Foundation, a non-profit that oversees development on the Cardano network.
EMURGO is the official commercial arm of Cardano and provides socially impactful solutions to solve some of the most intricate problems of organizations. As a founding entity of the Cardano protocol, EMURGO is able to leverage its abilities for large-scale blockchain development and rapid solutions deployment to benefit its global clients. To connect and learn more, visit: https: https://emurgo.io.
Cardano price today is $1.43 with a 24-hour trading volume of $4,121,923,234. ADA has a circulating supply of 32 Billion ADA coins and a total supply of 45 Billion. If you are looking to buy or sell ADA, Binance is currently the most active exchange. Recent advances in DiFi, NFTs and the Metaverse, as well as scaling progress, appear to be contributing to Cardano blockchain’s optimism.
The first Metaverse on Cardano blockchain called Pavia was launched on January 15. Pavia is the first virtual world to run on the Cardano blockchain. Pavia Corporation issued a press release to announce the official launch of the Pavia.io project, which is said is “somewhat similar in the style to Decentraland but build on proof of stake blockchain technology.
As with all Metaverse projects Pavia has an ingame currency, $Pavia, of which 25% was airdrop to Pavia NFT land holders following a blockchain snapshot in December 2021. $PAVIA tokens are being actively traded on mueseliswap.com which operates a basic, yet functional, order matching system.”