Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Cardano is working on implementing commercial infrastructure, Charles Hoskinson says development is on schedule.
Proof-of-stake (PoS) blockchain Cardano (ADA) is working on implementing commercial infrastructure. The coinâs officials have reassured the public that development is on schedule.
During a March 13 YouTube livestream, Charles Hoskinson â the CEO of IOHK, the firm behind Cardano â said that official updates about the coinâs critical commercial infrastructure should be expected in the coming months, but reassured that things are proceeding as expected.
Hoskinson explained that the people involved in the coinâs development are starting to set aside funding for dedicated commercial infrastructure, which he explained as follows:
âCardano commercially critical infrastructure are things that Cardano needs for it â in our view â to be competitive against other cryptocurrencies.â
Hoskinson said that such infrastructure needs to ensure decentralized applications, such as the DeFi protocols, work properly on the blockchain. He also mentioned the Jormungandr node software is about to see an update that will allow for easier retiring of stake pools.
Hoskinson also claimed that Cardanoâs development team is making good progress on the next network update, Shelley. He said that the number of bugs reported in the Shelley testnet has massively decreased over the last three weeks and the stability of the software is increasing.
Coronavirus doesnât affect Cardano development
Recently, several industry news outlets reported that Cardanoâs Shelley update will be postponed due to the coronavirus pandemic. Hoskinson was quick to deny such reports and call them âfake newsâ on Twitter earlier today.
Hoskinson was quite vocal about his high hopes for blockchain, cryptocurrencies, and decentralized finance largely changing how the world functions. As Cointelegraph recently reported, Hoskinson announced that âthe economic order of the 20th centuryâ is dead. He was referring to the centralized hierarchical economy that was built through âa series of treatiesâ made by a few great powers.
At the start of March, Cardano received praise from a major figure of a big four audit firm, the PwC. Recently the auditorâs legal leader said that the Cardano Foundation and the team surrounding IOHKâs CEO and founder, Charles Hoskinson, are a huge part of the decentralized future.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.