Cryptocurrencies

Cardano in the short term, this is what you can expect


Cardano and its cryptocurrency ADA have many loyal investors since the 2020/2021 bull run. During that period, updates were regularly released that improved the network. Now Charles Hoskinson, the founder of Cardano, is speaking about another important update.

Banner Cardano 1

Rate ADA is not a cause for concern

Hoskinson recently dismissed concerns about the health of the blockchain, despite the ADA rate ain’t got nothing up his ass. He started talking about a major protocol upgrade coming up.

In a interview with Thinking Crypto’s Tony Edward, Hoskinson pointed out Cardano’s vibrant community and the upcoming improvements that will strengthen the network’s scalability and governance.

Hoskinson provided an update on the progress of Cardano and said that the team is working on two parts of the roadmap: Basho (scalability) and Voltaire (governance). He explained that Voltaire is needed for certain aspects of Basho and focuses on establishing a representative on-chain governance system.

The Cardano community debated Voltaire’s implementation for two years before opting for it Cardano Improvement Proposal (CIP) 1694. The team then organized more than 25 workshops worldwide and conducted extensive dialogues over a year and a half to finalize the design of the governance instrument.

Next week it’s fork time

Hoskinson said the final phase of deployment is well underway, with node 9.0 expected to be ready for the fork next week. He highlighted Cardano’s community-driven approach, which involves stakeholders throughout the process. The hard fork requires 70% of stake pool operators to install the new node before it can be activated.

In addition to confirming the impending hard fork, Hoskinson also underlined the importance of the new governance system and improvements to Plutus V3, which will enable BLS support.

For newcomers to the Cardano ecosystem, BLS (Boneh-Lynn-Shacham) support means the integration of BLS cryptography into Cardano’s Plutus smart contract platform.

This upgrade promises to improve Cardano’s scalability and governance, which is an important step for the future of the network.



Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button