- Cardano gaming has gone cross-chain thanks to integration with a new layer-2 network.
- The partnership will enable ADA holders to play on-chain games without bridging tokens to other networks.
- This is the latest in a series of network improvements and features on the Cardano blockchain.
Cardano (ADA) blockchain users will henceforth be able to enjoy on-chain games using their ADA tokens. The development is attributed to the newly signed partnership between Cardano and Paima Studios, birthing an integration that will see Cardano users play blockchain-based games without the need to bring their tokens to other networks.
Cardano won't just be a top EVM chain
— Paima Studios (@PaimaStudios) April 3, 2023
It will also be a top gaming chain
Paima is a L2 for onchain games with ANY web2 language using ANY game engine
Now live for EVERY Cardano user from ANY wallet
All in pure ADA
Making Cardano a top gaming chain by user count pic.twitter.com/NNiia22p84
Considering the threat to security that comes with bridging tokens between different blockchains, Cardano’s new deal is value-adding. It has the potential to reduce the chances of exploits seen across 2022 when threat actors took advantage of vulnerabilities in bridging tokens between different blockchains. The integration ensures every game is non-custodial, meaning that funds remain in the custody of users within their own wallets. As such, there is no need to transfer to the games’ wallets.
Beyond delivering more secure gaming, Paima Studios’ integration with Cardano also gives way for games built on other networks to migrate to the Cardano network conveniently. In the same way, users of these other networks can play games on the Cardano blockchain without the need to move their assets or bridge tokens.
Cardano doubles down on value-adding partnerships
The integration with Paima Studios is the latest in a series of Cardano network improvements. Soon, Cardano blockchain users will also enjoy access to Ethereum Virtual Machine (EVM) smart contracts with any ADA wallet. This is courtesy of the recent release of a new feature by the layer-2 (L2) network, Milkomeda.
It is worth mentioning that both Milkomeda and Paima Studios were seemingly funded through the Cardano Treasury, which also set aside up to $40,000 for each project to help them develop the Cardano ecosystem.
Cardano's onchain treasury has had a massive ROI
— Sebastien Guillemot (@SebastienGllmt) April 4, 2023
3 largest projects started through its treasury
- dcSpark. 50K USD. Now builds many open source tools across the ecosystem
- Milkomeda. 40K USD. Recent tweet got >3K likes
- Paima. 40K USD. Recent tweet got >1K likes pic.twitter.com/7bAQqXynef
This should not come as a surprise, considering Cardano’s recent record of accomplishment. On April 3, Cardano founder Charles Hoskinson shared on Twitter that the number of unique wallets participating in staking on Cardano network exceeded those of Ethereum considerably. He also hailed Cardano as “pretty special.”
Cardano is pretty special. It's almost like a lot of people thought about how to build an excellent staking protocol years ago and made it happen pic.twitter.com/SydlMTYyy1
— Charles Hoskinson (@IOHK_Charles) April 3, 2023
Cardano’s new developments may bolster the uptrend for ADA
Cardano price (ADA) has recorded an increase in buyer momentum, with large investors, otherwise termed whales, taking the lead. Based on Santiment data, this class of token holders has added up to 150 million tokens over the past month.
On-chain metric
Santiment data shows that Cardano whales holding between 1 million and 10 million ADA have taken to a buying spree, accumulating more than $57 million worth of the smart contract platform’s native token in a few weeks.
Crypto analyst Ali Martinez from blockchain analytics platform IntoTheBlock i has corroborated this n his recent post.
#Cardano whales holding 1 million to 10 million $ADA have bought roughly 150 million #ADA over the past month, worth $57 million, shows on-chain data from @intotheblock. pic.twitter.com/2ot5U7pUzY
— Ali (@ali_charts) April 3, 2023
As reported, retail investors held 66% of the ADA supply, a notable increase from just a year ago when the number was just under 40%. In an April 2 tweet, the firm wrote:
This shows a strong belief in the asset and its growth potential.
All these point to growing whale confidence in the long-term prospects of Cardano, which is committed to providing a scalable and sustainable platform for smart contracts, decentralized applications (dApps), and digital identity.
As more investors continue to take notice of ADA’s potential, Cardano price is poised to surge.
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