More than Five projects have signed up to be counted in Polkadot's brand new project. Cardano is also gearing up for an update.
Major Signals
- Polkadot has revealed it's plans to develop a new index token.
- Cardano prepares for an upgrade.
Polkadot is making money moves again. Earlier this month, it linked up with Cosmos, bridging the two networks. It also allowed users access some of the features on the different networks.
According to the interoperable network is set to develop a new token, PINT. PINT stands for Polkadot Index Network Token.
The project who's source code has already been opened to the public was given the go ahead by decentralized Anonymous Organization, StakerDAO. This is an organization tasked with managing and releasing new crypto projects.
The project will follow a three month outline at the end of which it would have been launched on the mainnet. The token's aim is to offer exposure to interested investors into Polkadot's systems and projects.
Betting individual project uncertainty from wider sector results. In future, PINT shall be offered for trade on decentralised exchanges and can be mined directly using Polkadot's DOT.
The developers of PINT hope that it will offer the option of keeping only indigenous tokens as a reserve currency. A token council and a "constituent committee" with members from each project included on the index are to be appointed to oversee. Six cryptocurrencies have alreadypledged themselves to join it.
https://coinlib.io/en/compare/2021-03-15/DOT/ADA
Cardano has published more information on Plutus, the natural language of programming used to write smart agreements following its next big upgrade, Alonzo.
The IOHK – the company behind Cardano – said in a blog post on April 13 that Plutus contracts consist of pieces running in chains and pieces running off chain on a consumer machine.
He added that both sections were written in the programming language of Haskell but were compiled by Plutus, which provides a smart contract structure for Cardano.
In the February update 'Mary,' Cardano released its native tokens to allow users to build custom tokens and to conduct transactions. Plutus will extend its existing token capabilities, greatly enhancing minting policies that will benefit NFTs that might require time locks.
These upgrades and major events herald good news for both cryptocurrencies. With polka dots launch of its index token, more activities will be on boarded on the platform. This would in turn bring more users to the platform, meaning that the trading volume and hence market capitalization would possibly move up. Signifying a bullish outlook for the current token, DOT.
Cardano has been in the dip of recent but this upgrade also has the potential with this new upgrade for ADA's price to soar.
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