What to Expect from Cardano (ADA) in 2022

The year 2021 was a watershed moment for the cryptocurrency market, with massive growth and adoption of digital assets, non-fungible tokens, and blockchain across the globe. It was also a fantastic year for Moonstake, as it climbed to the top of the global staking provider rankings, with total staking assets of $1.8 billion thanks to the support of its users and partners all around the world. Moonstake, together with its strategic blockchain partners, has a slew of exciting news and activities in store for you as its platforms develop and evolve in the year 2022.

In this article, I highlight what you need to know about digital assets in 2022, in this case, Cardano (ADA).

As a key partner of EMURGO, Cardano's official commercial arm, Moonstake has been a powerful staking provider for ADA staking, Cardano's native cryptocurrency, since August 2020. Infinity Blockchain Group, which is leading Moonstake's development, was recently bought by EMURGO to increase EMURGO's strategic resources and speed research into Cardano's compatibility with other blockchains.

Last year, Cardano underwent significant development updates and achieved several significant breakthroughs. With the debut of Plutus and the gradual distribution of the Alonzo upgrade, the network became fully community-governed and administered in April, and public support for smart contracts and hence DeFi applications was launched in September. In this article, I will focus on what the Cardano ecosystem and user community might expect in 2022.

Highlights include the successful implementation of smart contracts on the Cardano network, a significant increase in Yoroi Wallet adoption, and plans to release new EMURGO products like Yoroi's dApp Connector, which will tremendously optimize Cardano ADA user interaction with Cardano ecosystem dApps like DeFi and NFTs.

EMURGO is particularly proud of its $100 million Cardano ecosystem investment vehicle, which consists of two entities: EMURGO Ventures and EMURGO Africa, and will invest in early-stage and growth-stage companies that will develop Cardano-based solutions.

EMURGO Ventures invests in a variety of Cardano-focused startups and middleware solutions companies, including those developing non-fungible token (NFT), decentralized financial services (DeFi) projects, blockchain developer education tools, and other decentralized applications, with a focus on developed markets outside of Africa to facilitate the development of solutions and services on Cardano.

On the other hand, EMURGO Africa's mission is to promote over 300 African entrepreneurs through seed finance and incubation, with Cardano's blockchain becoming the technological platform benchmark in Africa for socially effective solutions. EMURGO Africa teamed with Adanian Labs, a successful venture building studio operator in Africa, to promote impact-driven companies developing the Cardano ecosystem across the continent, and Adaverse, a Cardano-focused joint accelerator program in Africa, for its launch to achieve this goal.

EMURGO's new Cardano investment vehicle will significantly accelerate and contribute to the improvement of socially beneficial solutions based on Cardano's green blockchain technology, benefiting both developers and society.

In 2022, EMURGO has a lot of interesting things planned, including the official release of Yoroi's dApp Connector, as well as other exciting features for Yoroi to enhance the Cardano ADA user experience in the fast-growing Cardano dApp ecosystem.

With the introduction of their own Cardano-based NFT marketplace, Fiborite, expected for early 2022, EMURGO is also looking forward to fostering the Cardano NFT ecosystem and community.

EMURGO's Cardano NFT marketplace Fiborite is uniquely positioned to provide the Cardano community and global artists the ability to effortlessly mint, purchase, and trade NFTs using Cardano ADA directly on the marketplace as a founding company of the Cardano blockchain. Those who are inexperienced with NFTs will be able to effortlessly mint, purchase, or sell NFTs using Fiborite's simple and user-intuitive UX.

In addition, beginning in 2022, EMURGO will offer DeFi services built on Cardano directly through Astarter, including a decentralized exchange (DEX), an IDO launchpad for Cardano-based token initiatives, and more. This will increase Cardano ADA users' liquidity and utility, as well as make it easier for projects to use Cardano.

Cardano's plans for its users in 2022

Now that Cardano has been completely decentralized, with staking incentives and smart contracts support, users can anticipate Cardano to continue its steady development with new dApps and technological advancements. Cardano is also working to offer layer 2 scaling technologies like Hydra to boost throughput and make Cardano's scalable, sustainable, and interoperable third-generation blockchain more widely adopted.

Through solution development, Yoroi Wallet feature improvements, developer education courses, and investments, EMURGO will continue to assist the development of Cardano's ecosystem.

Moonstake is a key strategic partner of EMURGO and Cardano blockchain and is likely to continue providing strong support for the Cardano environment as it grows and develops. Moonstake aims to provide even more tremendous value to ADA and crypto users throughout the world in 2022 to assist accelerate the adoption of the Cardano and Moonstake ecosystems simultaneously.

The Vasil hardfork

Cardano is most well-known for its exacting scientific methodology. The five major phases of Cardano's development were each given a name in honor of significant historical thinkers, poets, and scientists; even the name Cardano is derived from the Italian polymath Gerolamo Cardano.

Recently deceased mathematician and Cardano ambassador Vasil Daboz was from Bulgaria.

In his honor, the Vasil hardfork was named.

The Cardano blockchain's throughput will increase thanks to the Vasil hardfork, which will also facilitate the creation of smart contracts and decentralized applications (dApps).

Each block in the continuously updated chain of blocks that makes up the Cardano blockchain comprises a list of transaction records.

Each of these blocks will grow in size as a result of the Vasil hardfork.

If Cardano is to compete with rivals for smart contracts like Ethereum and Solana, it must be scalable such that there is more room for data to be saved in each block added to the blockchain.

Vasil, a significant update that was initially planned for a June rollout on a test network and aims to improve Cardano's scaling capabilities and lower transaction costs, is now scheduled to take place on its mainnet on Sept. 22. A hard fork is a change to the block-validation and production software that is backwards-incompatible.

In relation to blockchain technology, a hardfork is a significant modification to the protocol of a network that renders previously erroneous blocks and activities valid, or vice versa. Every node or user must update to the most recent protocol version after a hardfork.

BOOK Token

Readers will be able to own the digital products they purchase when they buy eBooks and Audiobooks thanks to BOOK Token. With the Cardano blockchain serving as its foundation, BOOK Token will build an NFT marketplace and network that will fundamentally alter how people read in the future. For the first time, readers will have the option to purchase eBooks and Audiobooks, earn BOOK Tokens by reading these publications, and then trade in their NFTs for cash. With smart contracts, publishers and authors will be able to get market-leading royalties for first sales as well as ongoing royalties on subsequent sales. The BOOK Token, the next chapter in the evolution of books, will validate and secure the whole decentralized network.

In addition to rewarding readers, BOOK Token will also fuel the secondary market, mint NFTS for writers and publishers, and verify students' reading habits for academic institutions. It serves as the basis for reading dApps and verifying transactions.

Users need to buy NFT books and read them in order to earn $BOOK tokens. Depending on how much they read, readers are ONLY rewarded with native $BOOK tokens. You can earn more $BOOK the more you read. These native to Cardano tokens can be used to buy new eBooks and Audiobooks on the platform, and they can also be moved from the BOOK Token platform to other compatible wallets and cryptocurrency exchanges.