At the Rare Evo 2024 keynote, Cardano founder Charles Hoskinson unveiled a series of groundbreaking updates for the Cardano blockchain. Addressing a diverse audience that included developers, stakeholders, and enthusiasts, Hoskinson detailed Cardano’s future advancements in technology development, governance, and global outreach.
Cardano Roadmap For The Coming Months
The highlight of Hoskinson’s presentation was the introduction of Plutus V3, the latest version of Cardano’s smart contract platform, bringing enhanced functionality and improved security features. Hoskinson expressed his excitement for the upcoming release of Plutus V3, emphasizing its capabilities to overcome the blockchain trilemma and work seamlessly with the Cardano community.
Focusing on technological progress, Hoskinson discussed Hydra, Cardano’s layer-2 scaling solution designed to significantly increase transaction throughput. He explained Hydra’s mechanics, including the use of the extended UTXO model for efficient and secure transaction processing, highlighting its potential to revolutionize the network’s scalability.
A substantial portion of the keynote was dedicated to discussing the evolution of governance within the Cardano ecosystem. Hoskinson announced the formation of the largest DAO in cryptocurrency history, tasked with managing a substantial digital treasury. He outlined the governance structure of this DAO, which integrates a tri-party system involving a constitutional committee, stake pool operators (SPOs), and elements of liquid democracy.
Emphasizing Cardano’s global reach, Hoskinson shared recent collaborations with governmental and academic institutions in Argentina, demonstrating the widespread interest in blockchain technology. He highlighted engagements with officials in Argentina, showcasing the enthusiasm for blockchain innovation and upcoming events such as the Cardano Summit in October.
Looking ahead, Hoskinson teased an upcoming Cardano Summit challenge that would demonstrate Hydra’s capability to handle one million transactions per second through a live multiplayer Doom game session. He emphasized the importance of showcasing the network’s scalability and efficiency through innovative challenges and events.
In concluding his keynote, Hoskinson reiterated his commitment to advancing blockchain technology through rigorous research and community-driven innovation. He highlighted the collaborative efforts within the Cardano ecosystem to enhance the platform’s capabilities and drive adoption worldwide.
As of now, ADA is trading at $0.3734.
Featured image created from YouTube, chart from TradingView.com
