Charles Hoskinson shared the roadmap of the Cardano project and explained how they can make a more efficient solution for the Defi applications.
Cardano is a popular crypto project in the crypto industry and the native coin ADA of this project is standing at 6th rank in the crypto market with a total of 2% dominance.
On 2 January, Charles Hoskinson, founder of the Cardano project, shared about the upcoming development works in the Cardano ecosystem in favour of the Defi platform’s users.
Charles elaborated on the Bitcoin UTXO and Ethereum’ EVM. Charles noted that both of these two things are best in their place in terms of the smart contract model.
Charles said that Bitcoin UTXO is working on its own model ideally and EVM is also doing the same for the Ethereum blockchain network to allow smart contract features on the Ethereum Blockchain network.
Charles confirmed that he will choose a path in the mid of Bitcoin UTXO and EVM. And the reason behind this is to eliminate those features which are not necessary for Defi applications.
According to Charles, there are some additional features, which are not in use by the Decentralized applications but Defi users are paying for them. So it will be better to choose a different path, which should lie in between the two existing intelligence smart contract models.
The Cardano team is using the programming language Haskell, which is much clearer and better against errors. And it helps to fight against bugs and security risks.
Charles noted that new development work on the Cardano’ Eutxo model will be complete in October 2022. And this year, a total of three Hardfork will take place in the Cardano Blockchain network: one in February, one in June, and One in October.
Right now, Input Output Hong Kong Global (IOHK) is a core developer team of the Cardano project and this team has a total of 100 developers. Besides this Developer team, Cardano has close hands with other 13 companies to get code for the development works on the Cardano blockchain.
Charles noted that all the scientific work has been completed and now coding is remaining.