Graph Blockchain Inc., a Canadian firm, is spending $300,000 in Cardano (ADA). This is a portion of the corporation’s staking money which will be used to mine ADA utilizing Proof-of-Stake (POS).
Cardano is among the channels that will drive in this, as per CEO Paul Haber, thus the investment. He stated,
“As outlined in previous news releases, Graph believes that in 2021, there is the potential for smart contract platforms to implement solutions to facilitate mass adoption on decentralized blockchains. Cardano is widely believed to be just the project to accomplish this, and Graph is excited to add ADA, to the Company’s list of supported projects,”
In 2021, Cardano will skyrocket.
At the start of the year 2021, Cardano is already in the spotlight. This is mostly due to its bull trend, which has driven it further than anticipated. The digital currency recently climbed to third place in terms of market cap, but has since fallen to fifth place. Throughout that period, the value has reached $1 for the first moment. Cardano is reportedly priced at $1.18 on CoinMarketCap at the time of publishing.
This year, the team headed by Cardano CEO Charles Hoskinson expects to extend the system’s capabilities. This will require the inclusion of new natively licensed tokens as well as non-fungible token support (NFTs). It also plans to include a ground-breaking smart contract feature that will enable users with little or no technical experience to create their private smart contracts.
The ADA is gaining attention.
Cardano’s success this year has not gone undetected. Other companies are showing interest in Graph Blockchain, which would be the first publicly tradable crypto currency Proof-of-Stake miner. ByBit, one of the most well-known cryptocurrency trading sites, previously introduced it as a exchange pair with USDT. Cardano’s capacity for growth is cited as a reason for the exchange’s decision to place it.
Cardano is the 2nd firm to gain support for POS mining from Graph Blockchain. The firm put 20% of its staking assets into Polkadot in the previous week for the same reason. According to Haber, the business would be purchasing more cryptocurrency tokens in the foreseeable term to expand its cryptocurrency holdings and tokenize its cash status.