Block Protocol COTI announces Djed Stablecoin on Cardano Network

  • Post category:News
  • Reading time:2 mins read
You are currently viewing Block Protocol COTI announces Djed Stablecoin on Cardano Network

An announcement during the Cardano Summit, the founder of Cardano (ADA), Charles Hoskinson revealed plans for a new stablecoin crypto market investment. COTI will be a new stablecoin option that has adopted the Djed standard. Many blockchain enthusiasts and Cardano (ADA) hodlers have anticipated a stablecoin to join the network, as Cardano is known as one of the major blockchain networks. According to Cardano (ADA), the new stablecoin will be key in growing the ecosystem and community.

Cardano is a decentralised, open-source, blockchain that has adopted the popular Proof-of-Stake (PoS) Consensus mechanism. The Cardano network operates using its native cryptocurrency ADA, to validate and support peer-to-peer transactions. Cardano (ADA) is one of the most popular cryptocurrency investments as it currently ranks 6th according to its total market capitalisation. Investors can buy Cardano (ADA) from cryptocurrency exchange platforms such as Binance, FTX, and BC Bitcoin.

The COTI blockchain protocol allows developers to create and issue their own cryptocurrencies. The company has established an end-to-end solution that provides developers with foundations to build blockchain-backed loyalty networks. The COTI ecosystem is based on financing blockchain technologies. However, the protocol is also a platform dedicated to building relationships that foster improvement between Decentralised Finance (DeFi) and traditional finance.

COTI’s recent appointment as the official issuer for the Djed stablecoin protocol, will utilise smart contact functionality to ensure the price remains pegged to the dollar and preserve long term stability, integral features for any stablecoin. COTI is positioning itself as a prime choice stablecoin due to its updated DAG-based protocols, featuring a robust infrastructure that supports fast and affordable payments, whilst also ensuring privacy and security.

If you are looking to Buy Cardano now or Sell altcoins, then you can head over to BC Bitcoin where you can safely trade crypto today.