Altcoins

Cardano’s Djed Stablecoin is Just one Final Audit Away

Author: Nidhi Kolhapur

Nidhi Kolhapur right arrow

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

  • author facebook
  • author twitter
  • linkedin

The Vasil hard fork upgrade has caused Cardano’s growth to constantly improve. However, the value of Cardano has reversed. It failed to demonstrate a favorable trend in the price of ADA, which is currently about $0.42. (USD).

Djed, the algorithmic stablecoin created by Cardano and Coti Network, is now in the process of being finished. The Djed team previously said that it was anticipating the Vasil update since the hard fork will enable the scalability needed to run Djed on the mainnet securely.

The Coti Network has detailed what might happen next for the eagerly anticipated stablecoin deployment now that Vasil has successfully launched with all functionalities installed.

The off-chain code and particular libraries are now being upgraded, according to COTI, in order to  support the Cardano Vasil node 1.35.x on the private testnet environment.

It states that a test run will be conducted following the implementation of all modifications to ensure that everything functions as intended. The modifications will be released to the open testnet after the test run is over.

Final audit in process

The final audit results, which will determine whether any critical faults are found, are one important thing that is still to be done, according to the COTI network. Djed will be deployed on the mainnet if there are no problems, according to the statement. The mainnet deployment hasn’t been given a set date, though.

Significant script modifications to increase throughput and reduce the execution budget by more than 60% are some of the most recent changes to the Djed stablecoin (fees).

For redundancy and security purposes, the ADA exchange rate acquisition module was upgraded to take into account at least six external sources.

Additionally, according to COTI, Djed’s capabilities for testing and deploying new versions have been enhanced. It claims that 80% of the test objectives for automatically testing the Djed smart contracts and Plutus backend applications have been implemented (PAB).

Show More

Was this writing helpful?

No Yes

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Related Articles

Back to top button