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Major Cardano (ADA) Innovations Unveiled and Explained by Developers

Tue, 12/20/2022 - 09:34
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Gamza Khanzadaev
Cardano developers unveil major innovations around blockchain and projects
Major Cardano (ADA) Innovations Unveiled and Explained by Developers
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Several important improvements to the Cardano ecosystem have been unveiled today by the various developers operating within it. The innovations include both the blockchain itself and the decentralized applications built on it.

Voltaire is on way

The first development can be considered the so-called CIP-1694, where the acronym stands for Cardano Improvement Proposal. This innovation, developed in co-authorship with Charles Hoskinson, founder of Cardano, is a mechanism for on-chain governance that will be a precursor to the transition to the Voltaire phase in Cardano.

The proposal put forward by developer Jared Cordouan in late November is now in the voting process. Voltaire itself, as explained by Hoskinson, is intended to be the latest stage in the development of the Cardano network and to set an example for the rest of the industry as to how decentralized management is done.

No third parties

Another major recent innovation is the development of a price index for Cardano native tokens by the dcSpark team. The idea is that the index can be deployed locally and for free, without the need for an API or third party. For reference, the number of native tokens on Cardano currently stands at over 7 million.

The index already has the support of the three largest decentralized exchanges on Cardano by total value locked: Minswap, WingRiders and SundaeSwap.

Outpacing competitors

Cardano remains one of the most actively developed projects in the crypto industry. As reported by U.Today, Cardano has more daily development activity on GitHub than Polkadot (DOT), Cosmos (ATOM) and Ethereum (ETH).

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.