Celo to Launch cUSD Stablecoin on Kadena Hybrid Blockchain

Celo to Launch cUSD Stablecoin on Kadena Hybrid Blockchain

Developers of the Kadena hybrid blockchain have started working with Celo, which plans to launch the cUSD stablecoin using a trust-free “bridge”.

Kadena developers say that in response, they will launch their KDA crypto asset on the Celo platform. Thus, the stablecoin Celo cUSD and KDA Kadena will work on each other’s platforms. This will allow KDA holders to participate in the provision of the Celo stablecoin and receive income.

In November, the Kadena project announced
about the partnership with the South Korean issuer of stablecoins Terra for the development and expansion of its decentralized platform Kadenaswap, plans for the launch of which became known
in September. According to the latest information, Kadena plans to launch DEX in January next year.

The launch of Kadenaswap will be preceded by a reward program for developers who discover errors and vulnerabilities in the work of the site.

“If the test participants are able to hack the network to ‘steal’ the KDA, they will retain the crypto assets they managed to obtain,” the Kadena team states.

Recall that in August, the throughput of the Kadena blockchain developed by former JPMorgan employees reached
480,000 transactions per second due to an increase in the number of “branched chains” in the network to twenty.