The partnership between Cardano and Orion continues with the creation of a one-stop-shop trading platform.
The aim of the collaboration is to create a single decentralized platform that aggregates the cryptocurrency exchanges currently on the market. To do this, Orion will integrate Cardano’s blockchain.
Why did Orion choose Cardano?
Orion’s mission is to create a single point of entry into the crypto market, not an actual exchange, but a platform that works as an aggregator, which can be accessed without the need to use KYC and AML, and which directs the user to the platform with the best price.
At the moment, therefore, users will be able to trade cryptocurrencies via Cardano’s blockchain. This will also lead to an increase in the number of transactions on the ADA blockchain.
The project also aims to integrate financial markets and NFT marketplaces in the near future. For this, a scalable blockchain was needed.
Cardano was chosen for its sustainable consensus system, a special “Proof of Stake” that consumes significantly less energy than Bitcoin’s Proof of Work. In fact, while Bitcoin can consume as much electricity as Switzerland, Cardano uses the equivalent of the energy needed for a house.
Romain Pellerin, CTO of IOHK, said:
“We believe that industry collaboration is crucial in order for blockchain to achieve mainstream adoption, which is why we have always taken an open source and patent-free approach to building Cardano.
As a result, we are always looking to partner with projects like Orion, which are crucial in order for blockchain to achieve its ‘bluetooth moment’, where users have a seamless experience when using blockchain networks, regardless of which platform they are using”.
Cardano the real alternative to Ethereum
According to the Orion team, Cardano has the potential to replace Ethereum. Timothea Horwell, CMO of Orion, said:
“Scalability is of critical importance to Orion in order to achieve widespread adoption: to become the single point of access to the digital asset market, we need a robust, scalable infrastructure that can effectively and efficiently handle the transactions that occur on such a platform. Engineered for efficiency and scalability, the Cardano ecosystem is developing into the most complete and most useful blockchain ever constructed”.
For Orion, Cardano is better than Ethereum, here’s why:
“As the market races towards the solution for the leading alternative to Ethereum on which to build a blockchain-based financial future, Cardano is primed to take that spot as the first and largest proof of stake blockchain, solving critical areas such as cost, latency, efficiency and scalability. With Orion’s goal of making the digital asset market inclusive and accessible, Cardano’s inclusive and open-source method is a perfect fit”.