ADALend will be an innovative platform for lending digital assets: CEO

• According to Kaspars Koskins, the CEO of ADALend, the company will be an innovative platform for lending digital assets supported by smart contract technology. 

• Users of the platform will be able to provide loans to individuals who are in need. Forget about the intermediary and the regulation of traditional lending; instead, use blockchain’s decentralization to gain ownership of your assets while also profiting. 

• The platform will act as a store of wealth, allowing users’ assets to appreciate in value as demand rises while you receive a return on your investment.

ADALend is being created so that users may work in a self-contained environment. They promised from the start that they would develop natively on the Cardano blockchain, allowing the lending platform to aggregate protocols that enable business models that give economic assistance to billions of users.

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Cardano is now more decentralized

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Kaspar then went on to describe how Ethereum has been affected by issues. The first problem is the expense of transaction fees when sending a payment. 

Due to these costs, Ethereum is now being displaced by other more efficient and cost-effective networks for users all around the world, as well as other locations that are even more sensitive to the high transaction cost in proportion to transaction value.

Kaspar is certain that Cardano is now more decentralized and trustworthy than any other network on the market, even the very controlled Solana. Cardano, he added, is the only completely decentralized blockchain with the security, speed, and cheap transaction costs required to deliver a truly democratic financial solution for everyone on the globe.

How will ADALend pave its way into the digital assets industry?

• In terms of technology, by using the Cardano blockchain, ADALend will be able to tap into the massive digital currency management industry. By allowing anybody to transfer their digital assets and make them available for a loan, ADALend offers blockchain-powered liquidity. 

The platform is being built with Haskell and Plutus while working within the limits of Smart Contracts on the Cardano Blockchain in order to become Cardano-native.

Kaspar went on to say that ADALend has been included to Input-Output Hong Kong’s (IOHK”Essential) Cardano List” of projects that support and provide products and services to Cardano consumers. They’re also on CardanoCube.io, with the Business Development team working on some exciting collaborations that will be announced shortly.