Kaspars Koskins, founder and chief executive officer of ADALend decentralized lending protocol, is one of the earliest figureheads of Cardano's dApps ecosystem. Today, he unveils why Cardano is a smart bet for high-performance DeFis in 2022.
Cardano is the only "genuinely decentralized" blockchain: ADALend CEO
In his recent interview, Mr. Koskins compared some mainstream smart contracts platforms. First of all, he stressed that Ethereum (ETH) blockchain is "plagued" with problems.
Due to exorbitant network fees and very slow transaction finalization, Ethereum (ETH) becomes unusable for the majority of dApps.
In terms of the modernization of technical solutions, Ethereum (ETH) will be replaced by more resource-efficient systems, Mr. Koskins opined.
Overhyped proof-of-history (PoH) blockchain Solana (SOL) is also not a solution, in Koskins' view. This network is "heavily" decentralized, Koskins emphasized.
As covered by U.Today previously, Dr. Gavin Wood, founder of Ethereum and Polkadot, slammed Solana (SOL) for centralization after its collapse in mid-September.
While Solana was down for 17 hours due to a DDoS attack, its team decided to switch off the network and release an emergency update.
Thus, Cardano (ADA) remains the only heavyweight with "genuine" decentralization as no hidden whales can take control over it. Mr. Koskins is fascinated by its inclusive and fair design:
[Cardano] (…) has security, speed, and low transaction fees needed to provide a truly democratic financial solution that every person on the planet can use.
ADALend featured by IOHK on "Essentials" list, indexed by CardanoCube.io
That is why the ecosystem of ADALend is up and running on Cardano's smart contracts. ADALend addresses decentralized lending/borrowing operations for Cardanians; it is going to supercharge Cardano's DeFi ecosystem with the analogue of "blue chips": Aave Finance, Curve, Balancer and so on.
Due to the highly-scalable and resource-efficient design of Cardano (ADA), ADALend's users can manage their liquidity with negligible fees and zero latency.
The protocol secured $540,000 in seed funding from the top VCs. Recently, it was added by Cardano's creators IOHK to the "Essentials" list: ADALend was mentioned as a crucial dApp for Cardano's ecosystem.
It is also added by first Cardano segment browser CardanoCube.io.