Hassan Maishera
On Wednesday, the Solana team announced via X that CADD, from Tetra Digital Group, is now live on the Solana blockchain.
CADD is the first Canadian-dollar stablecoin issued by a regulated financial institution, bringing CAD onchain for payments, transfers, treasury and settlement.
Solana is an integrated, open-source blockchain that synchronizes global information at the speed of light. The network is focused on fast transactions and high throughput to encourage mass consumer adoption of blockchain technology.
Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
SOL is down 2.3% in the last 24 hours and trades at $115.54.
