He even cited a famous haiku by Matsuo Basho, the most renowned poet of Japan’s Edo era. The haiku is famous among many people for bringing tranquility into an otherwise chaotic existence. “ADA will be available in Japan in 10 minutes. I’ve been looking forward to this day for a long span of time. Congratulations and gratitude to the local community: A monk drinks his morning tea, it’s peaceful, and the chrysanthemums are in bloom.”
Bitpoint, headquartered in Tokyo, has turned out to be be the first Japanese exchange to offer Cardano. ADA follows other cryptocurrencies such as Bitcoin (BTC), Tron (TRX), XRP, Ether (ETH), and Bitcoin Cash on the market. According to reports, Japanese authorities have been extremely stringent regulations that cryptocurrencies must follow before being listed on exchanges operating in their country. As a result, only a limited number of digital currencies are available for investors in the nation.
Through a live broadcast, Charles Hoskinson provided a short update on progress on the Cardano ecosystem. “Everything is on track, and that everything is looking good,” he added.
He also said that the Cardano staff is experimenting with hard forks and testnets. Cardano, nicknamed the “Ethereum killer,” has long been viewed as a fix to Ethereum’s exorbitant network costs. After the Alonzo hard fork, Cardano will reach a pivotal point on September 12 when it launches smart contracts.
Cardano will embrace the Basho period as soon as the Goguen era with smart contracts finishes (christened after the popular Japanese poet). The proof-of-stake network will focus on scaling and blockchain compatibility during this period.
Ethereum, on the contrary, is presently transitioning from the proof-of-work consensus method to the proof-of-stake consensus protocol. For several in the cryptocurrency world, this establishes Cardano as a significant contender.
Furthermore, Ethereum is the most often used platform for (decentralized finance) DeFi and smart contracts. Cardano’s next update should put it on level with Ethereum with respect to enabling developer participation. Among other things, Cardano will be able to issue non-fungible tokens (NFTs) and mechanize lending.
In the last 24 hours, ADA has lost 4.2% to trade at $2.66. However, it still trades at a 25.50% gain, compared with last week.