Major blockchain platform, Cardano, plans to invest $100 million into crypto education. According to reports, Cardano will execute the project through its commercial and venture arm, Emurgo.
The initiative will be set up towards the education of people on blockchain efforts on Cardano. In addition, the funds will also go into boosting decentralized finance (DeFi) and NFT solutions on the blockchain. Cardano currently rivals the Ethereum blockchain, and an increase in DeFi and NFT apps on the former could be an added advantage.
Emurgo CEO Ken Kodama stated that the investment would expedite the development of the Cardano ecosystem. The company is one of Cardano’s founding firms and is known for providing several types of solutions to several players, including governments, individuals, and developers.
Cardano recently became the third-largest crypto by market cap after Bitcoin and Ether. It attained this new position thanks to its deployment of smart contract features on its blockchain.
The Cardano blockchain now has an ever-increasing number of NFT and DeFi projects. Despite this, it has its sights set on accruing even more and further expanding its base. Generally, the blockchain competition is fast heating up and in the near future could feature Cardano, Ethereum, and Solana.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
