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Cardano Foundation Highlights Significant Milestones Hit in First Annual Report

Fri, 04/21/2023 - 15:30
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Tomiwabold Olajide
Previous year also saw growth in Cardano's developer community
Cardano Foundation Highlights Significant Milestones Hit in First Annual Report
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Cardano Foundation CEO Frederik Gregaard has taken to Twitter to share the Cardano Foundation's first annual report, which looks back on its achievements throughout 2022.

Excited about the remarkable milestones achieved in the past year, Gregaard went ahead to share extra thoughts on the report. While urging increased collaboration in the crypto community, Gregaard says the beauty of blockchain is not just the technology; it is the community supporting it plus the game theory and incentives underlying the technology.

Cardano Foundation's first annual report

The Cardano Foundation presents its first annual report, which highlights several milestones reached.

The Cardano Foundation recounts the technical assistance it provided in the past year in the lead-up to the Vasil hard fork. It also established the basis for the nationwide use of blockchain in the supply chain of Georgian wine and contributed to showcasing the versatility of NFTs.

In 2022, the foundation also inked landmark partnerships and collaborations with Switzerland for UNHCR, the Georgia National Wine Agency, Veritree and the University of Zurich.

Over the past year, the Cardano Foundation has supported the development and maintenance of Ogmios, a lightweight bridge interface tool. The launch of the decentralized application backend (DAB) solution by the Cardano Foundation and EMURGO brought several benefits to Cardano's developer community.

Cardano Foundation Announces a Shift in Leadership: Details

The year 2022 saw the rollout of Kupo v2, developed by the open-source team at the Cardano Foundation. Kupo is a lightweight chain-indexing solution that provides fast access to and filtering of blockchain data.

Despite the industry failures seen in the past year, the Cardano Foundation maintains it was not directly affected by industry risk events throughout 2022 as it predominantly holds its Cardano (ADA) and Bitcoin (BTC; $166 million and $19 million worth, respectively, as of December 2022) in cold storage solutions.

The year 2022 also saw growth in Cardano's developer community. The Developer Portal assists all those building on the Cardano ecosystem, leading to greater participation on-chain and, thus, increasing the operational resilience of the Cardano infrastructure. The builder's tools section reportedly expanded from 19 available tools in January 2022 to 62 in December.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.