$ADA: Cardano’s Ecosystem Set to Thrive with Latest Deployment of Djed ($DJED)

In a big stride for the digital foreign money area, the Djed Alliance has introduced the deployment of the Djed stablecoin protocol on Milkomeda-C1.

The Djed Alliance is a consortium of contributors from across the globe, devoted to instilling stability within the notoriously unstable cryptocurrency sector. The alliance oversees the Djed Stablecoin Protocol, fostering its implementations and deployments throughout varied blockchains. The alliance promotes a wholesome collaborative atmosphere, uniting various entities round a shared mission. By contributing to the Djed stablecoin protocol and collaborating with others within the alliance, any particular person or group can develop into part of this open community.

On April 29, 2023, the Djed Alliance introduced the profitable dwell deployment of the Djed stablecoin protocol on Milkomeda-C1, an EVM-compatible side-chain of Cardano. This marks the protocol’s third profitable deployment, following its introduction on Ergo’s SigmaUSD in early 2021 and COTI’s Djed on Cardano in Q1 2023.

The launch on Milkomeda-C1 stands as the primary Djed deployment utilizing the Solidity good contract programming language. This units the stage for future implementations throughout different EVM-compatible blockchains, marking a big milestone within the protocol’s enlargement.

This profitable launch represents a fruitful collaboration between business heavyweights reminiscent of Vacuum Labs, Bloxico, AOSSIE, dcSpark, and Milkomeda. It traces its roots again to the seminal work carried out by Ergo, Emurgo, and Enter Output in 2020. Curiously, two engineers from Emurgo who performed a pivotal function in Djed protocol’s early levels later co-founded dcSpark, which constructed Milkomeda-C1 and initiated this Djed implementation.

Each Milkomeda and the preliminary Djed implementation have been made doable due to a number of grants from Undertaking Catalyst, Cardano’s community-centric decentralized innovation fund. The Djed Alliance expressed deep gratitude for the Cardano group’s backing and anticipated this profitable launch would additional bolster Cardano’s burgeoning ecosystem on Milkomeda.

Based on the Djed Alliance’s blog post, this marks the primary Djed deployment that operates autonomously. The immutable, zero-governance protocol ensures the principles or parameters of the deployment can’t be altered. The code underwent quite a few revisions, complete testing, testnet deployments, and a meticulous good contract audit by Peckshield, all to make sure that it features in keeping with the protocol’s specs. This milestone represents a noteworthy development within the realm of stablecoins, and a robust validation of the Djed Alliance’s ongoing mission.