• Thu. May 23rd, 2024

Charles Hoskinson has Big Plans for 2022 as Cardano Makes New Partnerships with Commercial Organizations

Hassan Mehmood

ByHassan Mehmood

Feb 19, 2022

Cardano network has continued to keep adding more support to the network by forming partnerships with new commercial enterprises and constant updates. For the next year, Cardano founder Charles Hoskinson has shared the new roadmap, and the investors are excited about it.

One of the highly sought-after plans shared by Hoskinson is the development of a dedicated DeFi platform for the network. He exemplified the new DeFi deployment platform with Linux Hyperledger. The DeFi programs running on the network are going to be powered by smart contracts. Thus far, $260 million worth of tokens are locked in similar programs.

Cardano network still does not have any public DeFi applications. The issue was noted by Charles Hoskinson, and he added one blueprint for such an open-sourced swap for Cardano in the new roadmap. Both the DeFi specific and the public DeFi platform for the Cardano network is set to go live on the network sometime in the next year.

For the time being, the new plans for the network are well-received among the investors. ADA, the native token of the Cardano blockchain, is currently the 6th largest cryptocurrency, followed closely by the Solana network.

The former co-founder of Ethereum and head of the IOG network, Hoskinson added in his next year’s projections that it is going to be a big challenge for the network developers to write up some new Cardano Improvement Proposal while working on the ones that are already in the pipeline.

He pointed out that the developers have a big list of tasks and upgrades ahead of them, with a lot of media attention on the new Cardano native digital wallet. There is also a new p2p system for increasing the decentralization of the network.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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