Cardano Foundation Releases Its First Annual Report

On April 22nd, the official website of the Cardano Foundation released its first annual report, which reviewed the achievements of the blockchain throughout 2022. The report points out that due to its main holdings of Bitcoin (valued at $19 million) and ADA (valued at $166 million), Cardano was not directly affected by various risk events in the encryption industry throughout 2022. The Cardano Foundation has also disclosed other milestones, including supporting Vasil’s hard fork, signing cooperation agreements with the United Nations High Commissioner for Refugees and the University of Zurich, developing Kupo V2, and expanding the Developer Portal.

Cardano releases its first annual report: Due to holding BTC and ADA, it has not been affected by encryption industry risk events throughout 2022

On April 22nd, the Cardano Foundation published its first annual report, summarizing the exceptional accomplishments of the blockchain platform in 2022. The foundation highlights the fact that despite challenging circumstances in the cryptocurrency industry, Cardano was not significantly impacted due to its primary holdings of Bitcoin, valued at $19 million and ADA, valued at $166 million.
# Achievements of Cardano Blockchain

Main Holdings of Bitcoin and ADA

The impressive financial results of Cardano in 2022 can be attributed to its primary holdings of Bitcoin and its blockchain’s native ADA. Both of these cryptocurrencies demonstrated strength and resilience in the face of multiple risks including the Covid-19 pandemic, regulatory crackdowns, and increased competition. These holdings allowed for continued stability and growth despite market fluctuations.

Supporting Vasil’s Hard Fork

In 2022, Cardano Foundation supported Vasil’s hard fork, which aimed to improve and stabilize the blockchain. This is an ongoing project to prevent future attacks and vulnerabilities to the security of the platform. This endeavor showcases the commitment of the Cardano team to provide a secure and stable blockchain environment for its users.

Cooperation Agreements With UNHCR and University of Zurich

The Cardano Foundation also disclosed its collaborations with the United Nations High Commissioner for Refugees (UNHCR) and the University of Zurich. The UNHCR partnership will utilize Cardano’s blockchain technology to improve the efficiency and transparency of supply chain management in the refugee sector. The University of Zurich has entered into a research partnership with Cardano Foundation, aiming to tap the full potential of smart contracts and blockchain technology.

Develping Kupo V2

Kupo is a protocol designed to protect Cardano’s network from Distributed Denial of Service (DDoS) attacks. In 2022, the Cardano team released Kupo V2, a new version that includes comprehensive DDoS defense mechanisms. This release demonstrates Cardano’s commitment to keeping its network secure and protecting its users from potential cyber threats.

Expanding the Developer Portal

Finally, the Cardano Foundation announced its plans to further develop and expand its Developer Portal, creating a resource rich environment for developers to learn about and build applications on the blockchain. This initiative aims to encourage more developers to join the vibrant Cardano community, enabling them to develop innovative applications that leverage Cardano’s blockchain technology.
# Conclusion
Cardano’s first annual report shows the impressive progress made by the platform in 2022. The milestones achieved include developing a DDoS defense protocol, supporting Vasil’s hard fork, collaborating with UNHCR and University of Zurich, expanding the Developer Portal, and holding strong against risks in the cryptocurrency sector. The Cardano team’s commitment to innovation, research, and security has resulted in a stable, secure, and thriving blockchain ecosystem.
# FAQs
Q1. What makes Cardano’s main holdings of Bitcoin and ADA significant?
A. Cardano’s primary holdings of Bitcoin and ADA provide financial stability and resilience, enabling the blockchain to weather challenging conditions in the cryptocurrency industry.
Q2. How is Cardano collaborating with the UNHCR?
A. Cardano is providing blockchain technology to improve supply chain management in the refugee sector.
Q3. What is Kupo V2, and what is its importance for Cardano?
A. Kupo V2 is a protocol designed to protect Cardano’s network from Distributed Denial of Service (DDoS) attacks. Its importance lies in maintaining a secure network, protecting users from potential cyber threats.