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Crypto economy (EN)

04/23/2024

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Cardano's Giant Leap: PRAGMA Association Signals a New Era of Scalability and Global Ambitions - Crypto Economy

TL;DR Cardano celebrates the launch of PRAGMA, an independent open-source association, a key factor towards global scalability. The aim is to foster a solid and diverse ecosystem to ensure the scalability...

Cardano's Giant Leap: PRAGMA Association Signals a New Era of Scalability and Global Ambitions - Crypto Economy

TL;DR

  • Cardano celebrates the launch of PRAGMA, an independent open-source association, a key factor towards global scalability.
  • The aim is to foster a solid and diverse ecosystem to ensure the scalability and resilience needed in the crypto and financial market.
  • PRAGMA operates independently within the ADA community. Its initial projects, Amaru and Aiken, focus on enhancing the interoperability and functionality of Cardano.

Cardano’s founder, Charles Hoskinson, expressed excitement over the launch of PRAGMA, a new independent open-source association. This initiative signifies a pivotal step towards global scalability, a goal ADA aims to achieve as it aspires to become the world’s financial operating system.

PRAGMA, formed through an alliance between the Cardano Foundation and other partners such as Blink Labs, dcSpark, Sundae Labs, and TxPipe, aims to foster a solid and diverse ecosystem. This diversity is crucial to ensure the scalability and resilience needed to establish itself globally in the crypto and financial markets.

Multiple clients and a diverse and resilient ecosystem of open source projects and utilities are required for a global scale protocol seeking to build the financial operating system of the world.

I'm excited to see groups come together to start building these clients and… https://t.co/8HDuiX9Yl3

— Charles Hoskinson (@IOHK_Charles) April 22, 2024

Hoskinson emphasized the importance of this association, stating that “multiple clients and a diverse and resilient ecosystem of open-source projects and utilities are required for a global scale protocol seeking to build the financial operating system of the world.”

It’s worth noting that PRAGMA operates independently within the ADA community, without direct coordination with existing governmental entities such as IOHK. Hoskinson clarified that PRAGMA decided to form a completely different group and not coordinate with Intersect, another entity within the ADA ecosystem.

cardano ada

PRAGMA Will Enhance Cardano’s Interoperability and Functionality

PRAGMA’s initial projects, Amaru and Aiken, are crucial for improving the interoperability and functionality of Cardano. Amaru involves the development of a full node written in Rust, designed to operate alongside existing Haskell nodes in a fully interoperable manner. On the other hand, Aiken is a smart contract platform aimed at simplifying and enhancing the development of these contracts on the ADA network.

Frederik Gregaard, CEO of the Cardano Foundation, highlighted the significance of PRAGMA for the ecosystem as a whole, stating that it “represents a significant milestone on the path towards the maturity of the open-source ecosystem of Cardano, supporting collaborative initiatives that increase diversity, as well as the quality and quantity of blockchain solutions.”

PRAGMA plans to expand its membership to include developers within the ADA ecosystem by 2025. The long-term focus aims not only to integrate existing projects but also to stimulate the creation of new tools that can fundamentally improve the adoption and functionality of blockchain technology.

PRAGMA is another step for Cardano in its quest for global scalability and its goal of becoming the world’s financial operating system.

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