The founder of the Cardano project, Charles Hoskinson, expressed his belief that Cardano will make significant progress in its mission to create a truly decentralized and inclusive blockchain ecosystem.
In a May 25 video, Hoskinson provided an update on the project’s progress and outlined other major developments. According to him, this will contribute to the unrivaled decentralization of the platform in the field of cryptocurrencies.
New Cardana Control Project – CIP 1694
First, Hoskinson highlighted CIP 1694. It is an important project that aims to bring a new way of controlling Cardana. Currently, the Cardano Foundation and a small group of people make most of the major decisions about how the network moves forward. However, according to Hoskinson, CIP 1694 will allow more people in the community to have a say and participate in decision-making.
You should have the floor. Not people you’ve never met, not people who don’t talk back to you, and not people who don’t have your best interest at heart. I would like to believe that we will succeed. That’s why we built Cardano.
He further mentioned that the team behind this project is working hard to complete and test it on node 8.0. They are already planning to release node 8.1 soon.
To further encourage community involvement, Charles Hoskinson announced the launch of a grant program and a request for proposals (RFP) program. According to him, these initiatives will give interested individuals and organizations the opportunity to contribute to the Cardano ecosystem by developing tools, infrastructure and voting accountability mechanisms. He noted that the details of these programs will be presented in June and July.
In addition, this cryptocurrency guru revealed that Cardano is working with a lab at the University of Edinburgh. It deals with the decentralization index. The aim is to measure the level of decentralization of the project compared to other major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The aim of this cooperation is mainly to show Cardana’s significant progress in the field of decentralization. This is completely in line with the main goal of the project, which is to build decentralized protocols.
Working on a project
He also mentioned various other ongoing projects within the Cardano ecosystem. These include advances in peer-to-peer mechanics, support for signatures, and the development of the open-source Hydra program. According to him, this development further contributes to Cardano’s path to unparalleled decentralization.
I am convinced that we will indeed be significantly more decentralized than any cryptocurrency on the market. This is one of the main goals of these types of protocols.
Conclusion
Charles Hoskinson has again emphasized how important it is to focus on moving forward, even as he faces criticism from other players in the industry. As Cardano prepares to enter the Voltaire era, the network can expect an influx of new projects and people to join it. This should positively affect not only its overall growth, but also the growth of ADA, its native token.
2023-05-27 15:00:00
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