Cardano stands out for its distinct and measured approach. Frederik Gregaard, the CEO of the Cardano Foundation, recognizes and even embraces the “boring” label that comes with the network’s academic development method.
Cardano, known for its meticulousness and scientific rigor, relies on peer-reviewed articles to drive its network upgrades. This may have slowed down the release of new features, but, according to Gregaard, there is an undeniable advantage to this deliberate slowness. In a conversation with the press, the executive highlighted the importance of this approach, especially in a period where the intersection with artificial intelligence (AI) is becoming increasingly relevant.
“If they adopt some of the basic principles that we have researched and invented, that will be good for the Earth… [e] for humanity in general, because it makes blockchains more resilient and more adaptable around the world.”, explained Gregaard. The impact of Cardano’s work can be seen on other platforms that adopt its fundamental principles, which is a source of pride for the CEO.
In the current crypto landscape, where platforms strive to innovate quickly, Cardano’s reliability has its merits. Recent network upgrades such as Hydra and the Mithril protocol are examples of how the network has scaled in a solid and secure manner. This is reflected in the 198% increase in Cardano’s total locked value (TVL) year to date, according to data from Messari, which also points to Cardano’s jump to 15th place in the network ranking.
Preparing for the Voltaire era that focuses on decentralized governance, Cardano is aiming high. The experience of other projects, such as MakerDAO, serves as a lesson so that the network can reach an even more sophisticated level of governance. Gregaard makes it clear that the Cardano community will be essential in the evolution process, having the opportunity to contribute to a “constitutional document” during workshops planned for next year.
What does the future hold for Cardano? The network appears to be on a path of stability and steady growth, with more hard forks planned and the implementation of CIP-1694, a move towards more robust governance. Gregaard envisions a horizon where Cardano extends beyond the financial market, reaching international commerce and even voting systems.
As the network’s application landscape matures, Cardano reinforces its position as a steady and reliable force in the crypto ecosystem, in contrast to the volatility and rapid revolutions that characterize many of its counterparts.
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