IOHK to integrate Cardano into decentralized crypto trading platform Orion
Orion, a DeFi ecosystem and crypto trading platform along with blockchain engineering company IOHK, today announced a partnership to integrate the Cardano blockchain into Orion’s trading terminal.
The Orion terminal allows users access to all of the major crypto exchanges; without needing to undergo extensive KYC and AML checks required to sign up to each individual platform, while also ensuring the best price for every trade.
By using Cardano’s energy-efficient ‘Proof of Stake’ mechanism, a technology pioneered by IOHK, Orion will also achieve more sustainable growth through this partnership, an alternative to the widely criticized Proof of Work system employed by Bitcoin and the majority of other blockchains, which uses more energy than the whole of Switzerland. In comparison, Cardano uses the equivalent energy of a family home.
Further, via Orion’s solutions, this integration seeks to bring meaningful transaction volume to the Cardano blockchain.
“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.”
– Romain Pellerin, CTO at IOHK
Orion’s long-term goal is to combine access to both the traditional financial markets and NFT marketplaces. This requires a strong, scalable blockchain, one of Orion’s reasons for partnering with IOHK and integrating Cardano.
“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. 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.”
– Timothea Horwell, CMO at Orion