Hoskinson promises Solana-esque performance for Cardano
In a recent interview with InsideW3B Cardano founder Charles Hoskinson promised that the Cardano network will be as fast as Solana’s by the end of 2022. A big upgrade for Cardano “This year comes all these updates that massively...
In a recent interview with InsideW3B Cardano founder Charles Hoskinson promised that the Cardano network will be as fast as Solana’s by the end of 2022.
A big upgrade for Cardano
“This year comes all these updates that massively improve the scalability and expressiveness of the system. That way, you’ll get the same kind of performance you see from systems like Solana,” said Hoskinson.
He refers to the Basho scaling phase of the Cardano project. It was first outlined in the Cardano roadmap presented in early 2022.
One of Cardano’s priorities in 2022 is sustainability. The network will become more efficient and scalable. Also the organic speed will grow as it works.
“That means you need things like Mithril,” said Hoskinson. Mithril is a sidechain that is a new blockchain interoperable with Cardano’s backbone, a strong and lightweight protocol that will provide a stake-based threshold signature scheme that can be implemented as the protocol to solve chain synchronization, state bootstrapping, and trust issues in blockchain applications. to solve.”
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The three eras
The first phase of the Cardano project, called “Byron”, allowed users to buy and sell Cardano on a network using the first proof-of-stake protocol.
‘Shelley’, the second phase, revolved around the growth and development of the network. Also, improving decentralization by moving from a federated network to a community-run network was important.
The third phase, “Goguen”, saw the integration of smart contracts. These are linked to the decentralization that was implemented in the Shelley phase. It enabled the development of decentralized applications. Plutus, a platform for developing smart contracts, coded in the functional programming language Haskell, was an important milestone for the Goguen phase. Hoskinson told Motemagno the following:
In terms of commercial comparability, we made a huge effort early on in the project for correctness and scientific excellence. So we developed all these phenomenal protocols
The hard fork of June and October
Hoskinson was enthusiastic about the hard forks in June and October. Many features will be rolled out, including Plutus (smart contract platform) enhancements, side chains, and pipelining.
The hard fork that will take place in June, also known as the Vasil Hard Fork, will provide a number of dApp developers looking to build pipelining into their applications. Hoskinson believes the total value locked on Cardano applications will rise after the June hard fork.
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