Cardano’s Charles Hoskinson is in the news today after he revealed his latest plans for the network’s growth in 2022. The exec informed the community of the same via his latest videostream.
Some Updates https://t.co/4v1wWUa6ye
— Charles Hoskinson (@IOHK_Charles) March 7, 2022
Cardano has seen significant developments of late ( >than 400 Dapps at present). Now, there’s a big question about how does one structures those pieces together.
Several Open-Source Systems (OSS) have created parallel foundations as legal instruments to better articulate the structure, collaboration, and financial model for the project. Some examples are Apache, Linux, Mozilla, Eclipse, and Django foundations. Cardano too has worked under an open-source license.
The founder behind the protocol shed light on some of the upcoming developments under the belt.
According to the roadmap Charles Hoskinson shared for 2022, Cardano has started to mobilize and deliver on some of the things that the exec had promised.
As Cardano begins to enter the Basho beta phase, Input-Output Global would “put more energy into optimization and scaling.”
“(…)parameter tweaks, enhancements, and other innovations will play their part in steadily increasing Cardano’s capacity and performance throughout 2022.”
Such developments would fuel a high rate of congestion on the network. Anticipating the traffic surge, Mamba, a two-way bridge would come into effect this month or in April this year. This would enable tokens and other digital assets from one chain to be used in another and results returned to the original chain. Hoskinson asserted,
“Mamba was the first time I’d say the project’s history where we’ve converged to a point where we have a very crystallised viewpoint. Not only how to connect the chains, to operate the side chain, but also a generic footprint that if you the user want to create your side chain, how that process works.”
Cardano would keep commercial comparability, sustainability, and self-determination as kind of a “goalpost” for 2022. While there may be slow development concerns, the network and the exec will remain unfazed, he added.
Connecting the dots
Compared to its rival, Ethereum, Hoskinson also laid down some differentiating factors for Cardano. This, despite a few common denominators such as sidechains. The biggest difference, perhaps, is that Cardano uses extended UTXO and Plutus whereas Ethereum incorporates solidity and EVM to count the space model.
Now, some people/users have complained that Cardano didn’t meet its stated goal of decentralisation. In 2020, IOG published a paper explaining how it would decentralize its block production, a goal that was reached in April 2021.
Can it achieve its goals for 2022? Well, only time will tell.
Fresh one: Hoskinson doesn’t have a degree
Hi Charles, speaking of fiction, do you want to address the discrepancies between your claims of dropping out of a PhD program and the schools' assertions that you were enrolled as an undergrad? pic.twitter.com/gBULGEa6KK
— Laura Shin (@laurashin) March 6, 2022
Charles Hoskinson recently was at the centre of a lot of attention after he was accused of toying around with his educational qualifications. Now, while that may not have an impact on the network itself, some believe Hoskinson’s personal image might be hampered.
At press time though, ADA was down by just 1% in 24 hours. Then again, this correction was on the back of its steady downtrend that has spanned weeks now.