Solana, the first inter-blockchain network, has announced it will allow users to trade assets on the Ethereum and Cardano blockchains. Solana is the first blockchain-based infrastructure that supports smart contracts across different networks. The company stated that this will allow users to trade assets across both Ethereum and Cardano networks with the Solana Engine.
One of the most exciting things to happen to the cryptocurrency world over the past few months is the launch of the two new decentralised exchanges (DEX) on the Ethereum (ETH) and Cardano (ADA) platforms. Solana is the project behind the Cardano DEX, while the Solana team is in charge of the Ethereum DEX, both of which are in the early stages of development.
Solana, a blockchain-based platform for large-scale decentralized applications, and Cardano, a smart contract platform, have announced a partnership. Solana, a Swiss-based firm, and Cardano, a Japanese firm, have a joint goal to develop a “sustainable blockchain ecosystem”. Solana’s goal is to build a network of large-scale decentralized applications, while Cardano’s goal is to provide a smart contract platform that will allow for “decentralized innovation”. Both firms have a long-term vision to “advance the next generation of blockchain software”.. Read more about what is cardano coin and let us know what you think.
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News from the Exchange
Delta Exchange is a cryptocurrency derivatives exchange that allows users to trade Bitcoin and other cryptocurrencies in the future. On Wednesday, the platform stated that future trading on Solana (SOL) and Cardano (ADA) had been introduced. Delta customers now have access to major cryptocurrencies thanks to future trading on SOL and ADA.
Trading for BTC, ETH, XRP, Binance Coin (BNB), and over 50 other major DeFi currencies is already available on the Delta platform. Furthermore, in mid-2020, the derivatives exchange has incorporated numerous choices on future trading.
Furthermore, call and put options on SOL and ADA will have daily maturities at first. Weekly and monthly maturities, on the other hand, will be accessible in the future. Users may sell and purchase a certain security at a specified price within a predetermined time period using options.
Cryptocurrency Derivatives Are Growing In Popularity
Crypto derivatives are financial instruments that derive their value from a main underlying asset. Despite regulatory crackdowns from banking regulators, the crypto derivatives industry has seen tremendous growth this year.
After a crackdown on the crypto market that began in mid-May, it has substantially recovered its previous level in August. The crypto-sector has recovered from its crash, and open interest in Bitcoin options has quadrupled, according to Bybt statistics.
Furthermore, in December 2020, the crypto derivatives market amounted for 55% of the whole crypto market. Platforms for crypto derivatives are now growing at a fast rate. While other platforms, like as FTX, claim to account for a greater proportion of the entire crypto market in the future, Delta claims that it may account for a larger percentage of the whole crypto market in the future.
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