Cryptocurrency

Charles Hoskinson Reveals Plans For Cardano To Go Full-Blown Decentralized


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In a recent live stream, Charles Hoskinson, the founder of Input Output Global (IOG), shed light on the final phase of the Cardano (ADA) roadmap, Voltaire, and the integration of a new sidechain named Midnight.

Hoskinson’s revelations on Cardano‘s next moves toward decentralization hint at groundbreaking shifts for this layer-1 blockchain ecosystem.

Notably, Cardano is advancing towards a fully decentralized governance structure as it enters Voltaire. As part of the decentralization process, Charles Hoskinson announced the IOG’s decision to move all repositories to a community-run project called Intersect.

This move will pave the way for the establishment of “partnerchains,” which are specialized blockchains that operate alongside the main Cardano network. Midnight, a privacy-focused sidechain, is a key component in this expansive network.

Essentially, each partnerchain (or service-chain, as called by IOG’s founder) will have its own tokenomics and consensus logic. Similar to what is seen on Avalanche’s (AVAX) subnets.

Cardano pool operators are bullish on the recent announcements

Interestingly, according to comments on X (Twitter) by Conrad, a Cardano pool operator, the community and pool operators will inherit the Cardano network. This inheritance includes the potential to earn fees from all partnerchains by staking ADA.

Conrad highlights the bullish nature of this development, notwithstanding the inherent risks of pioneering such expansive tech frontiers. However, he also recognizes the risks in technology innovation — which remains essential for groundbreaking success, in his opinion.

Read Also: Cardano Founder Hoskinson Speaks Out On Ethereum Insider Revelations

Many sees this move as a bold step towards solidifying Cardano’s position in the blockchain world. With the introduction of Midnight and the development of partnerchains, Cardano’s ecosystem could become more robust, versatile, and user-centric.

As for Midnight, the sidechain, explained in detail by Genius Yield’s Cardano Academy, will offer privacy for smart contracts and transactions. This feature sets it apart from Cardano’s public ledger, offering users the ability to conduct confidential operations.

As the project moves forward, the community’s engagement and contribution become increasingly vital. Enthusiasts are closely watching Cardano’s trajectory toward a decentralized future as it promises to redefine blockchain governance and functionality.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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