Five Reasons to Consider a Tokenised Project on Cardano
The global market cap of cryptocurrencies topped $3 trillion recently, and as a newly emerging technology, hitting a trillion-dollar mark at the start of the second decade is a huge feat. Valued at $500 billion in November 2020, cryptocurrencies continue to gain mainstream adoption with popular coins topping the chart including ADA, Cardano’s digital currency.
Since the launch of Bitcoin as an alternative to conventional currencies, the digital space has channeled blockchain technology to disrupt many ecosystems beyond money. We have decentralised fashion, agritech, real estate, art, supply chain, democracy, and an evolving virtual world of possibilities is here with Metaverse.
All these are made possible with the ability to tokenise assets.
Tokenisation is how we create a digital representation for any item or idea and make them functional with smart contracts.
The advantages of tokenisation are numerous; when an asset is tokenised, it embodies a new entity that is valuable and accessible. It can be easily transferred and exchanged, providing liquidity to such assets. Digital assets are beginning to push capital growth in the global economy with NFTs, DeFi, GameFi, Metaverse, etc. These use cases have shown us how we can assign digital value to both physical and digital assets on the blockchain.
The global economy is highly dependent on the liquidity of assets, and cryptocurrencies are the most liquid form of assets without restrictive or regulatory barriers. Tokenising a project breaks down entry barriers to investment and increases capital growth. Africa is blessed with human capital and natural resources that can benefit greatly from low-entry access to a global market, highly scalable tech solutions that are crafted to solve indigenous problems with simple interactive interfaces.
How Cardano Makes Tokenisation Seamless
Cardano is an open-sourced decentralised blockchain that is positioned for global change through technological solutions that are accessible to make a lasting impact. Like every other type of technology, the worth of a solution is determined by its utilitarian merit and ease of use. Cardano is rated as one of the most efficient-driven blockchains for building scalable, sustainable, and interoperable solutions.
Here are 5 reasons why;
- A Scalable, Sustainable, and Interoperable Blockchain
Cardano blockchain is the first peer-reviewed third-generation software that has proved beyond doubt that a structure for a decentralised future is possible. Cardano’s core value proposition is woven around scalability, sustainability, and interoperability. Using a proof-of-stake mechanism, Cardano’s Ouroboros protocol allows a verifiable and highly scalable platform, structured to seamlessly integrate other blockchains and legacy systems.
Cardano is being developed into a decentralized application (DApp) platform with a multi-asset ledger and verifiable smart contracts. Ouroboros protocol guarantees a sustainable global network of applications with no hard forks or governance problems while improving transaction throughput and increasing payment capacity.
- Ready-to-Use Tools
Many decentralised solutions are planning to launch on the Cardano blockchain to link producers and consumers in the African market. Cardano is designed as a platform for Dapp development that will power future technologies. One of the available tools is the lightweight Cardano wallet — Yoroi, developed by EMURGO, the official commercial arm of Cardano.
Yoroi allows Cardano ADA users to easily send, receive, and store their ADA on mobile and desktop Internet browsers, while also providing services such as ADA staking, connecting to Cardano-based dApps, registering to vote for Cardano’s Project Catalyst funding proposals, and more in sync with Cardano’s overall development.
A recent addition to Yoroi includes the Yoroi dApp Connector enabling ADA users to access Cardano-based dApps from their preferred web browser via a plugin and then participate in any dApp activities such as purchasing or selling tokens and gaining access to resources. Cardano also has an EMURGO traceability app that companies across the globe are leveraging to create seamless solutions for efficient supply chain business.
Cardano is built on a foundation of peer-reviewed research and works with world-leading academics. The IOHK team in charge of the development comprises highly skilled experts in programming languages and distributed systems who make use of formal developmental methods and mathematical techniques that are well tested to determine the best way possible to achieve high functionality.
EMURGO 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. EMURGO via its education unit EMURGO India also currently runs a blockchain academy with tailored online courses for aspiring blockchain professionals.
- Environmentally Friendly
The proof-of-stake consensus used by Cardano is a more environmentally friendly approach used to replace the inefficiencies of the earlier blockchains. Cardano blockchain is not energy-intensive as Ethereum blockchain and requires less computational power while delivering highly secured and faster transaction speed. Energy use is estimated at 0.01% of Bitcoin’s making Cardano the green blockchain of the century. Cardano focuses on staking rather than energy consumption, and therefore, provides a more sustainable platform for growth.
- Economic Development
Cardano is channeling resources to support economic and infrastructural development in emerging economies, especially in the capacities of DeFi and NFT projects. EMURGO has recently launched various projects in Africa to accelerate impact-driven startups with blockchain education and funding. As part of EMURGO’s recently launched Cardano investment vehicle, EMURGO Africa offers capital intensive acceleration programs as one of the key pillars of expanding a decentralised economy in Africa.
Adaverse is one of the initiatives currently activating startups across pan African countries.
We are an initiative supported by EMURGO to accelerate impact-driven businesses in Africa through funding, advising and connecting to a robust network on the Cardano ecosystem. We employ user-focused approaches for individual projects to support their growth process. Our formidable team of capacity builders are industry experts and thought leaders sourced from across the globe to facilitate education, technical support, and mentoring that is required for businesses to thrive in the emerging African economy for a global market.
We are open to applications from African-based startups with a crypto-native edge and a proven concept. Apply here
You can check out our FAQs and reach out to get started.
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