😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

IOHK Joins Forces with MELD to Tackle Cardano Transaction Issue

Published 2023/04/07, 14:42
Updated 2023/04/07, 15:00
IOHK Joins Forces with MELD to Tackle Cardano Transaction Issue
ADA/USD
-

Coin Edition -

  • IOHK and MELD collaborate to address an issue on the Cardano testnet.
  • MELD delays mainnet launch to ensure the security of user assets.
  • IOHK states it is committed to supporting DApp and DeFi projects building on Cardano.

Blockchain research and development company Input Output Hong Kong (IOHK) has announced a collaboration with MELD, a DeFi protocol built on the Cardano blockchain, to address an issue affecting Cardano transaction processing on the preprod testnet.

In a tweet, IOHK stated that they were working closely with the MELD team to find a solution to the issue and appreciated that MELD had brought it to their attention. The collaboration comes after MELD identified the issue during a thorough security analysis of its lending and borrowing protocol on the blockchain.

MELD had previously delayed the launch of its protocol on the mainnet until the issue was resolved to ensure the security of user assets. In addition, MELD confirmed that they were collaborating with Input Output Global (IOG) on testing with the next iteration of the node software to understand better how they might jointly address the issue. They also confirmed that they would provide further feedback on progress during April.

The announcement from IOHK highlights the company’s commitment as a Cardano partner to address any issues that may impact the Cardano blockchain platform and its users. IOHK expressed appreciation for MELD’s efforts in bringing the issue to their attention. MELD, on their part, also acknowledged the support of IOG engineers.

The company added that they were also exploring several short and medium-term solutions for their development or plans to launch on Cardano. MELD further stated that they would open-source their smart contracts, and once a solution is in place that sufficiently mitigates the issue, they would make the required adjustments to their code base and launch on the mainnet.

IOHK has further stated that they always value collaboration with DApp and DeFi projects building responsibly on Cardano and will continue to support MELD during their journey to mainnet launch.

The post IOHK Joins Forces with MELD to Tackle Cardano Transaction Issue appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.