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Cardano’s Charles Hoskinson explains his views on the new ‘Cardano Roadmap’




Cardano's Charles Hoskinson explains his views on the new 'Cardano Roadmap'
Source: Unsplash

IOHK shared the redesigned roadmap for Cardano after scrapping the old one. The new roadmap details their vision for Cardano from 2019 through 2021. Charles Hoskinson detailed the reasons that went into the new roadmap in “The Cardano Effect” Podcast on June 9.

IOHK tweeted:

Hoskinson said that roadmap was “the reflection of the philosophy of how something is built” and that the old roadmap was based on percentages and quarters and that once they started building things based on the old roadmap they discovered that things weren’t as simple as they thought they would be.

According to Hoskinson, the old roadmap compared to the project/product management, the actual product delivery process had tuned out of sync with each other. This led to them breaking down the roadmap into steps that could be achieved step-by-step; Byron was the first step in this direction, which is followed by Shelly, Goguen, Basho, and Voltaire.

He further mentioned that Byron was the first step where they built applications and APIs to make sure that they could get on exchanges, third-party apps, etc. This was followed by Shelly, which concentrated on the “decentralization” aspect of Cardano and defining what decentralization means to them. And each ear, be it Byron or Shelly needs to have a demarcation that explains what was accomplished in that particular phase, said Hoskinson.

Hoskinson added:

“So the way that we try to structure this roadmap is to know that these are not necessarily linear, where you do one and you go to the next one in the next one. These things kind of sit on top of each other and they stagger. So you know Byron is nearly done and we’re kind of leaving
that eros so that’s closed out but Shelley is going to keep going because the goal there’s decentralization…”

He said that this roadmap was structured considering the end, where they would need to handover this ecosystem to the Federation of actors and to every single person that cared.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time writer at AMBCrypto and a part-time novice trader.


ErisX goes all hands on deck to launch a Bitcoin Futures market




ErisX goes all-hands on deck to launch a Bitcoin Futures market
Source: Unsplash

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.

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