Nervos And Cardano Join Forces To Boost Smart Contract Security

Cardano is making headlines again following their latest move.

Coindesk just revealed that Nervos and IOHK which is the development team behind Cardano would be co-authoring research papers on how you can improve UTXO models, open-source future developments, and explore the creation of a universal standard for the accounting method.

It’s been also reported that they will be forming an alliance with other UTXO-based blockchains in order to help collab across research, development and education in the industry.

The same online publication mentioned above cited Nervos and noted that UTXO, “which keeps track of a user’s unspent transactions across all their accounts and monitors every single transaction, is a more secure alternative to the account-based accounting method used by smart contract-based blockchains such as Ethereum.”

“UTXOs are superior to account models in many ways and provide improved security, privacy, and scalability, all of which are critical for DeFi,” said Kevin Wang, co-founder at Nervos as cited by Coindesk. 

Cardano has been making a lot of headlines these days.

New announcement about Project Catalyst

Just the other day, IOHK just dropped a new exciting announcement about Cardano’s Project Catalyst. Check out their tweet below.

Stay tuned for more Cardano-related news.

Cardano has been making a lot of headlines these days due to all kinds of achievements that the team behind the project marked and also thanks to the Foundation’s bold plans for the future of the project.

Regarding the price of ADA today, at the moment of writing this article, ADA is trading in the red, and the coin is priced at $0.152738.

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