The cryptocurrency space continues to expand, and users need to be educated on the various aspects of the industry
Cardano is one of the leading cryptocurrency projects in the world. Over the past few years, it has experienced tremendous growth and has now become the third-largest cryptocurrency by market cap, just behind Ether and Bitcoin.
Cardano's commercial and venture arm, Emurgo, announced during the Cardano Summit 2021 yesterday that it would be investing $100 million in cryptocurrency education. The funds will be geared towards educating people on blockchain efforts on Cardano.
They will also use the funds to boost decentralised finance (DeFi) and non-fungible token (NFT) solutions on the blockchain. Cardano is one of Ethereum's major rivals, and the funds could go a long way in boosting the NFT and DeFi apps currently available on the blockchain.
Emurgo CEO Ken Kodama pointed out that the investment would fast-track development within the Cardano ecosystem. Cardano has been performing excellently in recent years thanks to investment from the likes of Emurgo.
Emurgo is one of the founding firms behind Cardano and is popular for providing solutions for companies, governments and developers. Cardano became the third-largest cryptocurrency by market cap thanks to the blockchain's deployment of smart contract features.
In separate news, Cardano founder Charles Hoskinson donated $20 million to build the Hoskinson Center for Formal Mathematics at the Carnegie Mellon University (CMU). The centre will focus on researching mathematical theorems by discovering proofs, verifying the steps and certifying correctness using computers.
The Cardano blockchain is now home to some NFTs and DeFi projects. However, it wants to grow further and eventually compete with Ethereum in terms of NFTs, DeFi and other smart contract features. Another blockchain that is providing stiff competition to Ethereum and Cardano is Solana.
The Solana blockchain is one of the most widely used in the cryptocurrency space, and numerous investors are bullish about the project. The DeFi and NFT sectors are expected to experience massive growth in the coming years, and these smart contract blockchains will likely lead the adoption