Cardano
Blockchain Can Change How Governments Operate, Says Cardano Founder
Charles Hoskinson has emphasized on how blockchain and crypto can bring evolution in the world, including government level operations.
Revolutionizing Worldwide Governments and Societies
Founder of Cardano and CEO of IOHK, Charles Hoskinson recently shared his thoughts on how blockchain and crypto can help bring global market revolution, especially in terms of governments around the world running their operations. A report from Yahoo Finance mentioned that Charles Hoskinson thinks that blockchain tech can significantly change the future, giving rise to superior forms of government services globally, enabling them to be become compatible with each other.
Furthermore, Charles mentioned that in order to operate a global society, power and control over resources and decisions should not be in the hands of a singular body, since the main purpose of cryptocurrencies and blockchain in the first place is to help resources be handled publicly and if those same resources are to become digital, let them be open and work to develop businesses over them and with the basic infrastructure not in control.
Promoting Transparency
Hoskinson reassured the negatives of a centralized system, highlighting that because a singular body has control over the rules and regulations, they are not promoting competitiveness and are also against the consumers, basically hurting traders and leading to market collapses. In terms of the global structure of the coming times, Charles wishes that government services should be incorporated into a structure in which there is complete transparency.
Taking more on transparency, Charles thinks that a world build on transparency would help people to see clearly on the government’s tax revenue and sources, providing clarity over the moving money. This will lead to minimal levels of fraud, wastage, abuse and lesser concentration of power. Speaking on power, Charles stated that if the ledger is genuinely accessible, then both the poorest person and the even the President of the United States will have equal rights over it.
Concluding his thoughts on the matter, Charles said that this kind of system of transparency has never been implemented in the history of humans. Additionally, Hoskinson also talked about how “trolls” on Social Media platform Twitter have been spreading false rumors about Cardano’s upcoming Vasil hard fork, saying that it would bring a negative impact on the smart contract functionality of the Cardano network.
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Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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