EMURGO and Huawei Cloud: Pioneering Web3 Solutions on the Cardano Blockchain

Cardano-ADA-coins

  • This partnership signifies the first step towards broader cooperation to extend the Cardano ecosystem in Asia Pacific and Africa.
  • EMURGO aims to leverage Huawei Cloud’s technology and global reach to accelerate Web3 adoption and foster innovation in blockchain.

EMURGO, associated with advancing Web3 through the Cardano blockchain, has entered into a partnership with Huawei Cloud. This collaboration aims to incorporate a Cardano Validator Node on Huawei Cloud to strengthen the Cardano network’s infrastructure. By integrating Huawei’s cloud technology into Cardano’s blockchain ecosystem, this partnership seeks to enhance Web3 adoption in the Asia Pacific and Africa.

Ken Kodama, mentioned the partnership’s goal to merge Huawei Cloud’s global reach with EMURGO’s access to the Cardano ecosystem, facilitating the development of Web3 solutions. This collaboration is intended to promote Web3 adoption by leveraging trusted cloud technology and Cardano’s blockchain network.

This initiative is the first phase of an expanding collaboration aimed at enlarging the Cardano ecosystem in key markets across Asia Pacific and Africa.

Read more: Cardano’s Path to Progress: Chang Hard Fork and Ouroboros Leios Upgrade Set for Major Network Enhancements

Huawei Cloud, a subsidiary of the tech giant Huawei, ranks as one of the leading cloud computing services globally. This partnership will allow Cardano developers to use Huawei Cloud’s extensive network and computing capabilities for developing Web3 solutions on the Cardano platform. 

See also  Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

It is expected to improve Cardano’s cloud service scalability and interoperability, as well as extend its Web3 offerings through Huawei’s Marketplace, which is utilized by numerous enterprise customers.

Related: Cardano (ADA) Breakout Signals: Brace for 32% Rally Ahead

EMURGO, a foundational part of the Cardano blockchain, supports a network of over 3,000 stake pools that secure the Cardano network and offer staking capabilities to millions of users worldwide. 

With a presence across Africa through the Cardano accelerator, Adaverse, and EMURGO Africa, the organization is poised to further expand its influence in the Asia Pacific, including Singapore, Indonesia, India, and Japan. 

This partnership with Huawei Cloud is a strategic move to utilize blockchain for innovation and sustainable development across these regions.

The current analysis of Cardano (ADA) presents a diverse perspective, reflecting the dynamic nature of the cryptocurrency market. On one hand, technical analysis suggests that ADA is in a strong downtrend, with moving averages indicating bear dominance. However, a positive divergence in the Relative Strength Index (RSI) hints at decreasing selling pressure. 

The current price of Cardano (ADA-USD) is approximately $0.58, with a slight increase of about 1.66% as of the last update. 

If ADA manages to surpass the 20-week exponential moving average (EMA), a rally towards the 50-week simple moving average (SMA) and potentially up to $0.68 could be triggered. 

Conversely, a drop below the critical $0.29 support could lead to a decline to $0.25, signaling a continuation of the downtrend​.

The defense of the $0.60 support level and increasing funding rates on derivatives trading platforms suggest a bullish sentiment among traders, potentially aiming for a retest of the $0.70 level​.

Leave a Reply

Your email address will not be published. Required fields are marked *