Future

Cardano

Midnight

Founder of Cardano, Charles Hoskinson, has revealed more information on the current talks with the Ripple CEO, Brad Garlinghouse and CTO, David Schwartz. 
In a <a href="https://www.youtube.com/watch?v=Y70gd9rHjtE">recent interview</a>, Hoskinson stated that the discussions between the two parties had shifted from past enmity to possibilities of Cardano and XRP communities. They focused on how XRP would be implemented into the innovations of Cardano. These innovations include updates such as the Midnight sidechain and the Marlowe smart contract platform. 
<h2 class="wp-block-heading" id="h-potential-cardano-xrp-collaboration-on-midnight-and-marlowe">Potential Cardano-XRP Collaboration on Midnight and Marlowe</h2> 
Overall, Hoskinson pointed out that he had positive conversations with the heads of Ripple. They spoke about their ecosystems and how they could integrate. One of the major topics was Cardano’s Midnight sidechain, a private layer on top of the Cardano blockchain. 
Midnight has two tokens, NIGHT for trading and other transactions. While DUST operates under conditions such as governance and staking. 
<a href="https://www.thecoinrepublic.com/2024/11/15/ripple-cardano-unite-for-crypto-reform-under-trump-presidency/">Hoskinson proposed that XRP</a> could have a large stake within this context. It might rise to be the third token within the structure of Midnight. 
Although NIGHT and DUST are built for very particular tasks, adding XRP as an integration could create a second layer of transaction currency for consumers. Such a change could improve the application of the Midnight sidechain. It could also allow more options to users within the Cardano network. 
Besides Midnight, Hoskinson also pointed about the future of incorporating XRP into Marlowe. Marlowe is a Cardano-based platform that is aimed at decentralizing the development of smart contracts. Hoskinson pointed out that XRP might be better suited within the Marlowe ecosystem than Cardano’s own ADA token. 
<h2 class="wp-block-heading" id="h-cardano-s-participation-in-ripple-s-rlusd-stablecoin">Cardano’s Participation in Ripple’s RLUSD Stablecoin</h2> 
Another aspect of the dialogue during Hoskinson’s discussions with Ripple was the possibility of Cardano’s involvement in Ripple’s future stablecoin, RLUSD. <a href="https://www.thecoinrepublic.com/2024/10/15/ripple-announces-rlusd-stablecoin-partners-here-are-the-updates/">RLUSD is expected </a>to start with XRP Ledger (XRPL) and Ethereum. However, it will need approval from New York’s Department of Financial Services. 
Hoskinson also showed an interest in staking Cardano’s vision concerning the stablecoin once that would be executed on the XRPL and Ethereum blockchains. 
Cardano plans on leveraging this strong smart contract functionality to host RLUSD on its blockchain. They could provide Ripple’s stablecoin to traders and investors. This would strengthen Cardano’s ability to integrate with Ripple’s tech and open up new use cases for stablecoins in DeFi. 
<h2 class="wp-block-heading" id="h-ada-price-action-and-market-movement">ADA Price Action and Market Movement</h2> 
However, there have been some recent declines in ADA token due to unfavorable market conditions for its technological advancement. The price of ADA recently retraced lower after it could not sustain a price above $1.30 as observed above. 
The ADA/USD pair has been stagnant below significant resistance levels such as $1.20 and has seen pressure from the bearish trend line on the hourly chart. 
In the latest trading sessions, <a href="https://www.thecoinrepublic.com/price-prediction/cardano/">ADA price</a> was below $1.150 but has been somewhat recovered with the help of $1.20 and $1.2450 resistant Level. Should ADA navigate these resistance levels, it could start a new upswing toward higher price levels, and even towards $1.320. 
However, if the price struggles to clear these barriers, it could face further declines, with immediate support levels at $1.150 and $1.120. 
The ongoing developments in Cardano’s partnerships, particularly with Ripple, could influence the broader market sentiment toward ADA in the future. 
The post <a href="https://www.thecoinrepublic.com/2024/12/09/charles-hoskinson-highlights-xrps-role-in-cardanos-future-tech-initiatives/">Charles Hoskinson Highlights XRP’s Role in Cardano’s Future Tech Initiatives</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Charles Hoskinson Highlights XRP’s Role in Cardano’s Future Tech Initiatives

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 9, 2024

MicroStrategy Boosts Bitcoin Holdings With Latest $2.1B Acquisition

Why crypto needs to fix its ‘dangerously low’ knowledge gap

Chainlink Eyes Breakout With 142% Address Count

Bitcoin’s Price History: Why 2024’s Halving Could Reshape the Market

Pepe Price Prediction: PEPE Climbs 20% In A Week To New ATH And Flips UNI By Market Cap, But Anal...

BitOasis Steps Up with Full VASP License from Dubai VARA

Join our free newsletter for daily crypto updates!