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Cardano Founder: Things Moving Quickly, Tons of DApps Coming Online

Sat, 01/28/2023 - 11:56
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Tomiwabold Olajide
Slew of innovations coming in 2023
Cardano Founder: Things Moving Quickly, Tons of DApps Coming Online
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Cardano founder Charles Hoskinson has taken to Twitter to voice his excitement about the slew of advancements seen on the Cardano blockchain. According to the Cardano founder, things are moving so quickly that a ton of dApps might soon surface.

"It's exciting to see things moving so quickly in the Cardano ecosystem. Sidechains are coming along including Cosmos, djed is launching soon, Hydra and Mithril on schedule, Lace almost out of beta, tons of DApps coming online," Hoskinson wrote.

Cardano builder Input Output Global (IOG) recently shared an update on its sidechains project, a new toolkit designed to usher in a new era of scalability for blockchains.

As part of this project, World Mobile announced it was extending its collaboration with IOG, which has spanned more than three years, to work with the IOG sidechains project team. This hopes to fully integrate the World Mobile chain using Tendermint as a Cardano sidechain.

Slew of innovations coming in 2023

According to Hoskinson, Hydra, a scalability solution that runs on Cardano, remains on schedule. Late last year, IOG stated in a blog post that 2023 will see new features, enhancements to the Hydra protocols and the use of Hydra for payments.

IOG recently inked a partnership with a blockchain and fintech consultancy firm MLabs10 to propose ways of handling auctions on Hydra.

Mithril is a stake-based signature scheme that improves the speed and efficiency of syncing times for nodes joining the network. The Mithril proof of concept went open source in August last year, and it is in its final stages of network optimization.

Cardano's IOG Reveals Game-Changing Innovation for PoW Blockchains

As reported earlier, Cardano's overcollateralized stablecoin, Djed, developed in collaboration with the COTI network, is expected to launch next week.

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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.