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Cardano's Technical Contributor Moves to Join Algorand; Cardano Founder Reacts

Fri, 07/08/2022 - 12:14
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Tomiwabold Olajide
Cardano creator also praised Algorand community
Cardano's Technical Contributor Moves to Join Algorand; Cardano Founder Reacts
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Cardano founder Charles Hoskinson had commendations for former Cardano technical contributor John Alan Woods, who is now joining Algorand as its CTO. 

The Cardano creator also praised the Algorand community, saying, "Algorand is an excellent project with exceptional people," adding that new prospects for future research and collaboration between the two projects might be in place.

John Alan Woods worked briefly to stand in for Duncan Coutts, IOG's principal technical architect, who went on paternity leave but has now returned to his full duties.

In a recent interview, Coutts expressed his delight at the scope of current development at Cardano and mentioned that a lot of big-impact projects were in the pipeline.

One instance is the Vasil upgrade, which is a part of the Basho phase and focuses on scaling and network and ledger optimization while bringing forth numerous enhancements to the ledger. Cardano's hard-fork combinator (HFC), a cutting-edge technology that implements seamless protocol transitions and ledger upgrades while minimizing disturbance for end-users, will be used to deploy Vasil at the protocol level.

A new Cardano book for newcomers has also been introduced by IOG as part of its push for crypto education: Cardano for the Masses: A Financial Operating System for People Who Don't Have One.

Cardano-based DEX faces 52,000% monthly growth in TVL

At the time of publication, Cardano's total value locked (TVL) in DeFi remained largely unchanged at $120.51 million. Contributing largely to this is the Wingriders DEX, with 42.21% dominance.

Notably, in the past month, Wingriders Fluid tokens and ADAX Pro faced increases of 54.72%, 52,688% and 139%, respectively.

Cardano's ADA traded at $0.46, marginally up in the last 24 hours.

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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.