Thursday, July 25, 2024

Cardano Founder Reveals the Network’s Growth Plans for 2022.

According to online news sources, the founder of IOG and Cardano, Charles Hoskinson, has reportedly revealed the future plans of the network for the new year. He threw light on the plans during a YouTube talk session on the day of Christmas. He reportedly said that his goal for the latter half of 2022 is to lay a solid plan in place for facilitating end-to-end transactions for microfinance on Cardano. He also said that the company will be introducing the structure for the open-source project that will oversee the creation of decentralized products on the Cardano network. He added that it would be like Linux’s Hyperledger.

The developers in the company are presently working on Cardano Improvement Proposals, which will aim to enhance the network. Among these proposals is the human-readable information proposal, which is designed for the assets that are issued on Cardano. There will also be a native web wallet in Cardano which will enable the users to interact with decentralized finance (DeFi) protocols. Hoskinson said during the YouTube session that these proposals will most likely go live next year.

Hoskinson is also planning to rollout the testnet which would help in improving the Cardano network. A testnet is a form of blockchain that runs on the similar kind of software as the ‘mainnet’. Through a testnet, the developers will be able to test out the applications and features before it goes live in the real world. He added that the peer-to-peer framework is currently being tested on the testnet. He believes that the peer-to-peer framework would make the Cardano network more centralized. Presently, there are 11 operators serving on the semi-public testnet as test subjects.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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