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Cardano's Largest NFT Marketplace Sets New Community Milestone: Details

Tue, 11/15/2022 - 12:49
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Tomiwabold Olajide
Cardano NFT space continues to garner traction
Cardano's Largest NFT Marketplace Sets New Community Milestone: Details
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Cardano's largest NFT marketplace, the JPG store, has announced a new community milestone on Twitter. This comes as the Cardano NFT space continues to garner traction.

Aside from this, the Cardano network is recording increased network activity, with over 30,000 wallets added in the past week.

The Cardano community is enthused with expectations. As reported by U.Today, Cardano's founder, Charles Hoskinson, said he had a special announcement for November, something he had been working on for the past four years.

Cardano will soon enter the Voltaire era, which, according to Cardano's founder, will enable the network to show the industry "how to do decentralized governance." According to Cardano's roadmap, Voltaire will be the beginning of Cardano's evolution into a "truly decentralized" blockchain network. Cardano's roadmap is characterized by five phases, which are Byron, Shelley, Goguen, Basho and Voltaire.

The Byron phase represents the first incarnation of Cardano that allowed users to buy and sell ADA on a federated network running Ouroboros Classic. This phase also saw the release of two Cardano-native wallets: Daedalus, IOG's official desktop wallet for ADA, and IOG's official desktop wallet for ETH, Yoroi, a light wallet by EMURGO for quick transactions and day-to-day use.

Hydra for payments: another advancement

In a blog post, Cardano builder IOG said it is collaborating with Obsidian Systems to drive the development of use cases based on the Hydra Head protocol, such as the Hydra for Payments initiative. The Hydra family of protocols is one of the key components of Cardano's Layer 2 scaling journey. The Hydra Head is the first in this suite of protocols.

Cardano Founder Has Project in Development Since 2018, Plans to Announce It Soon

Hydra's payment tooling will gradually roll out in Q4, 2022. The year 2023 will see new features, enhancements to the Hydra protocols and their eager use in Hydra for Payments.

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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.