Long Beach (CoinChapter): Cardano(ADA) founder and CEO Charles Hoskinson recently held one of his infamous blackboard videos yesterday. In it, he outlined the long-term roadmap for Cardano going all the way to 2025.
The first thing Hoskinson revealed was that the “Alonzo” hard fork combinator event will be announced with the Cardano 360 show in late April. Hoskinson added that once the fork is completed the team will work to solve the blockchain scaling problem in point-to-point transfers.
Hoskinson also said that after Voltaire, the focus will be on “what the year 2025 will look like”. Voltaire is the final stage in the Cardano project roadmap. The update would allow Cardano ecosystem to operate as a self-sufficient system. Following this, Hoskinson noted that he plans to meet with third-party experts and consultants to further assess what is next.
Ouroboros’ Omega is sure to play a major role. The research paper for this will bring together all previous studies including Ouroboros Classic, Ouroboros Praos and more. Omega’s main aim is to achieve a rate of 1,000 transfers per second. This would create a scalable ecosystem on the network and may also protect the network against 51% attacks. Hoskinson added this should be called Ouroboros ++.
Hoskinson also made note that Input Output Global will propose a Cardano Improvement Proposal. “Basically update the monetary policy to include an incentive to run EVM IELE in Catalyst sidechain, and also include some very cool resource models that will come,” Hoskinson said.
“There are some really cool things in the industry down with Cosmos, parachains on Polkadot. A lot of people have some really cool ideas, and what we’re trying to do is, kind of look at what the industry has done, and look at the different arguments.”
Layer-2 solutions on the horizon for Cardano?
There could also be news this year regarding off-chain infrastructure and layer-2 solutions. For the latter, there could be an update on Hydra as soon early as April. Regarding the former, Hoskinson further explained:
“One is Prism. There’s a lot of deal flows with Prism which will be announced. This is basically did embedding, and this is worthwhile to have its own video. I’m probably gonna do that. […] This is basically for authenticated wallets, KYC, AML scenarios, a regulated DeFi space, […] human-readable addresses.”
Among other things discussed, Hoskinson mentioned merging Project Catalyst with the Voltaire era. First steps for that could come at the end of 2021. IOG also plans to move Cardano from a plutocratic system to a hybrid system (“proof of merit”). In such a system, both ADA holders and holders of other tokens have voting rights.
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
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