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12/20/2022

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Major Cardano (ADA) Innovations Unveiled and Explained by Developers

Gamza KhanzadaevCardano developers unveil major innovations around blockchain and projectsSeveral important improvements to the Cardano ecosystem have been unveiled today by the various developers operating...

Major Cardano (ADA) Innovations Unveiled and Explained by Developers

Cardano developers unveil major innovations around blockchain and projects

Several important improvements to the Cardano ecosystem have been unveiled today by the various developers operating within it. The innovations include both the blockchain itself and the decentralized applications built on it.

Voltaire is on way

The first development can be considered the so-called CIP-1694, where the acronym stands for Cardano Improvement Proposal. This innovation, developed in co-authorship with Charles Hoskinson, founder of Cardano, is a mechanism for on-chain governance that will be a precursor to the transition to the Voltaire phase in Cardano.

Glad to see the community going through this. I’d encourage everyone in cardano to do readings of the CIP and share your opinions both pro and con https://t.co/rvJ8eXTld1

— Charles Hoskinson (@IOHK_Charles) December 19, 2022

The proposal put forward by developer Jared Cordouan in late November is now in the voting process. Voltaire itself, as explained by Hoskinson, is intended to be the latest stage in the development of the Cardano network and to set an example for the rest of the industry as to how decentralized management is done.

No third parties

Another major recent innovation is the development of a price index for Cardano native tokens by the dcSpark team. The idea is that the index can be deployed locally and for free, without the need for an API or third party. For reference, the number of native tokens on Cardano currently stands at over 7 million.

You can now run your own local price indexer for Cardano native assets 😍

You can run it entirely locally with no trusted API server to pay for!

3 DEXs supported for now, but more may be added in the future 👍

Another successful Catalyst proposal by our team🙏 https://t.co/0khuz8Psiu

— Sebastien Guillemot (@SebastienGllmt) December 19, 2022

The index already has the support of the three largest decentralized exchanges on Cardano by total value locked: Minswap, WingRiders and SundaeSwap.

Outpacing competitors

Cardano remains one of the most actively developed projects in the crypto industry. As reported by U.Today, Cardano has more daily development activity on GitHub than Polkadot (DOT), Cosmos (ATOM) and Ethereum (ETH).

Source: https://u.today/major-cardano-ada-innovations-unveiled-and-explained-by-developers

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