Cardano is advancing towards improved scalability and interoperability by developing Layer-2 solutions to enhance network efficiency.
Updates on Cardano's Strategy
During a recent research session hosted by Input Output Global (IOG), Cardano developers provided updates on the role of Hydra in the platform's strategy. In the long term, Cardano plans to offer various Layer-2 technologies that can work together. This will support different applications, such as decentralized finance (DeFi), gaming, and business solutions.
New Features for Cardano Users
Two months ago, it was announced that Cardano users can store, send, and receive XRP using the Lace Wallet, a native wallet for Cardano. The IOG team also intends to integrate XRP features into Lace Wallet, enabling XRP holders to securely store their assets and conduct transactions without relying on other apps. The Cardano Foundation introduced the Veridian platform to help users manage their digital identities.
Critique of Ethereum by Charles Hoskinson
Charles Hoskinson, the founder of Cardano, expressed doubts about Ethereum's longevity, pointing out three main mistakes. He noted that Ethereum heavily relies on Layer-2 solutions, which he sees as a 'parasitic' dependency. He also highlighted flaws in Ethereum's governance system and pointed out its inefficiency even after the switch to Proof-of-Stake. Hoskinson believes Ethereum lacks the resilience needed for long-term success.
Overall, Cardano continues to evolve and adapt to changing user needs, focusing on multi-layer solutions and providing a safer and more efficient experience.
