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Cardano Update: Hoskinson Reveals Future Roadmap

source-logo  cryptoglobe.com 28 May 2023 13:47, UTC

In a recent in-depth video update, Charles Hoskinson, the Co-Founder and CEO of IO Global (IOG), shared a comprehensive overview of Cardano’s ongoing development and future roadmap. Cardano, a leading blockchain platform for smart contracts, continues to make significant strides in its evolution, as outlined by Hoskinson.

A key focus of Hoskinson’s update was the substantial work being done on CIP-1694, a crucial protocol improvement proposal for Cardano. The development effort is aggressive, with Node 8.0 already out and Node 8.1 in the pipeline. This development is a testament to the team’s commitment to enhancing the Cardano ecosystem.

Hoskinson also highlighted the global community’s involvement in shaping Cardano’s future. Currently, 43 community workshops are taking place across six continents, gathering valuable feedback on CIP-1694. This feedback will be consolidated at a closing workshop in Edinburgh in July, demonstrating Cardano’s commitment to community-driven development.

The CEO also touched on the Edinburgh Decentralization Index, a new research paper exploring various decentralization and centralization metrics. The head of the Decentralization Index Lab at the University of Edinburgh will present their findings at the July workshop, further emphasizing Cardano’s dedication to decentralization.

On the technical front, Hoskinson discussed the final major feature of Cardano’s peer-to-peer functionality — Eclipse detection. This and Genesis, a different chain selection rule, are key summer projects for the team. He also mentioned ongoing work on Plutus V3 and BLS signature support, which will open up numerous capabilities for the platform.

Hoskinson also shared updates on Mithril and Hydra, two significant projects in the Cardano ecosystem. Mithril, a super lightweight proof certificate, is gearing up for its version one mainnet launch. Meanwhile, Hydra, a protocol for off-chain transactions, is already operational on the mainnet and being utilized by a vibrant community of developers.

The video update also touched on the progress of Cardano’s side chains. Hoskinson hinted at a dedicated side chains conversation expected this summer, indicating significant advancements in this area.

Finally, Hoskinson celebrated the astounding growth of DApp and DeFi on Cardano. With the Total Value Locked (TVL) and the number of transactions continually increasing, Cardano’s DApp and DeFi ecosystem is showing promising signs of maturity and innovation.

Featured Image Credit: Photo / illustration by “Traxer” via Unsplash