Cardano is seeing increased attention because of the Cardano Summit 2021. During this summit, Cardano’s founder, Charles Hoskinson, has announced that the network is collaborating with the DISH network.
DISH Network is a fortune-500 company that offers television satellite services. Through this partnership, ADA will offer its blockchain technology to enhance the operations of DISH’s telecom services.
This partnership is a major boost for Cardano because it is a step forward towards boosting adoption for the network. The partnership will also benefit DISH, as it has over 8 million users who will enjoy an enhanced user experience because of blockchain technology.
Hoskinson was giving his speech at the Cardano Summit 2021, where he gave reasons behind creating the Cardano network. Hoskinson stated that Cardano’s network was inspired by the need of enabling users to transition seamlessly between spaces while not disrupting the underlying network.
“We think there’s a lot of intersection between the use of identity, the movement of data capacity exchange, and other things that can be done and explored. And it can be done at a scale of millions to tens of millions, and eventually at a global scale. So, this is a super exciting relationship we can’t wait to see how it goes,” Hoskinson said.
He also added that the partnership between ADA and DISH was likely to change the operations of the Telecom sector, despite the issues that come with implementing blockchain technology for the communications sector.
He further added that the growing number of DISH users would have access to the Cardano network, which will help them avoid the limitations of centralized institutions. If this partnership becomes a success, it could set the way forward for the telecommunications sector.
This partnership is a major adoption for the ADA network, given the immense size of DISH. DISH is one of the biggest Telecom firms with a capacity of more than 19 million users. DISH allows users to gain full control of their accounts. It has also been at the forefront of crypto adoption as it is among the first public institutions to accept cryptocurrency payments.
Cardano Trading in the Green Zone
News of this partnership has led to major gains for Cardano. However, the recent turbulence in the market has led to the coin retreating towards lower levels, and it is currently trading at $2.27.
On Friday, when the crypto market dipped, Cardano remained in the green zone. Its market capitalization currently stands at $73 billion, and it is the third-largest cryptocurrency by this metric.
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