During a keynote at Rare Evo 2024, Cardano founder Charles Hoskinson revealed a series of significant updates for the Cardano blockchain. Speaking to a diverse audience that included developers, stakeholders, and enthusiasts, Hoskinson outlined Cardano\u2019s next steps in technology development, governance, and global outreach.<\/p>\n
The centerpiece of Hoskinson\u2019s presentation was the introduction of Plutus V3, the latest iteration of Cardano\u2019s smart contract platform, which is poised to bring enhanced functionality and improved security features. \u201cPlutus V3 is coming in just a matter of weeks. We got Ouroboros Leios<\/a>, the paper came out years and years and years of chasing how do we beat the blockchain trilemma. Well not only we Beat it, we kicked its ass and we\u2019re working on it. We\u2019re working on it together with Intersect with all of you prototyping in public with the people here. That\u2019s the difference of Cardano,\u201d Hoskinson said.<\/p>\n Further emphasizing technological strides, Hoskinson delved into Hydra<\/a>, Cardano\u2019s layer-2 scaling solution designed to increase the network\u2019s transaction throughput exponentially. He provided a detailed explanation of Hydra\u2019s mechanics, particularly its use of the extended UTXO model, which ensures that transactions are processed efficiently and securely. \u201cHydra is amazing technology. We\u2019re so excited about Hydra, we designed extended UTXO specifically for Hydra. [\u2026] This ability to move on and off the chain seamlessly. [\u2026] It just works, it\u2019s secure it\u2019s fast,\u201d he noted.<\/p>\n A substantial portion of the keynote was dedicated to the evolution of governance within the Cardano ecosystem. Hoskinson announced the imminent formation of what he described as \u201cthe largest DAO in the history of cryptocurrency,\u201d which will manage one of the largest digital treasuries. He detailed the structure of this DAO, which incorporates a tri party system of governance combining a constitutional committee, stake pool operators (SPOs), and elements of liquid democracy.<\/p>\n \u201cThis new governance model is a revolutionary step towards fully decentralized and democratic management of a blockchain ecosystem,\u201d Hoskinson said. He emphasized the potential of this system to empower the community and foster a more inclusive decision-making process.<\/p>\n Highlighting Cardano\u2019s international outreach, Hoskinson recounted recent engagements with governmental and academic institutions in Argentina, which underscored the global interest in blockchain\u2019s potential. \u201cIt was so cool we met with the government. We met with the mayor of Buenos Aires, we met with so many other amazing people and they\u2019re incredibly excited to receive us down at the University of Buenos Aires school of law for the Constitutional Convention<\/a>. We\u2019re going to have delegates from more than 50 countries all around to come and talk about what Cardano should be for the next 10 years,\u201d he shared.<\/p>\n Looking ahead, Hoskinson excited the audience with previews of the upcoming Cardano Summit in October. He announced a unique challenge that would highlight Hydra\u2019s capabilities to manage one million transactions per second (TPS): a live, multiplayer Doom game session running on Hydra, where each frame of the game represents a transaction on the blockchain.<\/p>\n \u201cI got something for you. You get 30,000 concurrent players, 35 frames per second, 35 transactions per second, that\u2019s about a million TPS. [\u2026] We\u2019re going to have a death match where people fight each other in Doom. We\u2019ll find a win to make it happen whoever wins gets $100,000 in USDM [\u2026] That\u2019s how we get to that 30,000 players. Why? Because we want to showcase the power of this,\u201d Hoskinson revealed.<\/p>\n Hoskinson concluded his keynote by reinforcing his dedication to advancing blockchain technology through rigorous research and community-driven innovation. He highlighted the resilience and growing capabilities of the Cardano ecosystem, emphasizing, \u201cEvery single day, people in this room, people outside of this room, are united and asking the question, how do we make it simpler, faster, cheaper, easier, better? Why? Because we want crypto to take over the world.\u201d<\/p>\n At press time, ADA traded at $0.3734.<\/p>","protected":false},"excerpt":{"rendered":" During a keynote at Rare Evo 2024, Cardano founder Charles Hoskinson revealed a series of significant updates for the Cardano blockchain. Speaking to a diverse audience that included developers, stakeholders, and enthusiasts, Hoskinson outlined Cardano\u2019s next steps in technology development, governance, and global outreach. Cardano Roadmap For The Coming Months The centerpiece of Hoskinson\u2019s presentation […]<\/p>\n","protected":false},"author":0,"featured_media":1132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1131"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1131"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/1132"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}