The Cardano Foundation, a non-profit organization based in Switzerland and responsible for the ADA cryptocurrency, has appointed a new chief technology officer (CTO). However, the position was taken by Giorgio Zinetti, the Cardano Foundation said in an official statement. He will focus on open source solutions. On the other hand, The cryptocurrency space is brimming with innovation, and Bitbot, a Telegram trading bot with exceptional features, is vying for a prominent position.
Cardano Appoints New Chief Technology Officer
Zinetti will bring technology development and strategic planning experience to the project. In general, his role as CTO will be focused on expanding Cardano’s product line, as well as improving the open source blockchain technology. Meanwhile, Cardano Foundation CEO Frederik Gregaard called Zinetti’s appointment an important milestone for the non-profit organization.
“Adding Giorgio to the executive team as our first CTO is a significant milestone for the Cardano Foundation. This step reflects our commitment to technical excellence. Moreover, Giorgio’s experience and expertise will help us in our mission to increase adoption of blockchain-based solutions that will increase user trust and become the basis for new applications, industries and even economies,” he emphasized.
Before joining the Cardano team, Giorgio Zinetti was co-founder and CTO at Procivis AG. The project was developing solutions for personal identification in government agencies. In addition, Zinetti also worked as a software engineer at UBS, one of the world’s leading investment banks.
“The Cardano Foundation’s innovative and impactful work is helping to advance one of the most exciting technologies in the world. In addition, as CTO of the project, I will be honored to continue the great work of improving the operational resiliency of the Cardano blockchain, ensuring that we remain at the forefront of technological progress in the face of such powerful global competition,” said Zinetti.
How Cardano (ADA) is reacting?
According to CoinGecko , the native Cardano token has risen in price by 3.6% over the past 24 hours . At the time of writing, the asset is trading at $0.45. Meanwhile, ADA trading volume has jumped nearly 90% in the past 24 hours. The capitalization of the cryptocurrency is estimated at $16 billion.
Previously, the Cardano coin was included in the list of “zombie tokens” compiled by Forbes. According to experts, the high market value of ADA does not correspond to the minimum practical benefit of the asset. They noted that the network has not yet moved beyond the pilot stage. However, Cardano developers continue to shed light on blockchain developments. They recently announced two major network updates. One of them will take place this year.
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