Cardano Creator Charles Hoskinson Addresses Future Projects | CryptoGazette
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Charles Hoskinson, the creator of Cardano, talked recently about the future of the project. Check out some of the most interesting details below.
He revealed the key areas of focus during the next phase of growth for the eighth-largest crypto project by market capitalization.
Hoskinson addresses plans for the next 5 years
When he was asked on his YouTube channel during an ask-me-anything (AMA) session what the “next significant evolution of Cardano after 2022” will be, Hoskinson made sure to explain that the priorities will include making Cardano resistant to quantum attacks.
As the online publication the Daily Hodl notes, there are fears that quantum computers, which are vastly superior to modern supercomputers, are a threat to crypto.
They are threatening the digital assets as they could break the encryption technology of blockchain-based assets and effectively undermine their security.
Hoskinson also explained that other priorities include merging the Minotaur protocol with Omega.
Just in case you don’t know, Minotaur is a blockchain consensus protocol that combines the proof-of-stake consensus mechanism with the proof-of-work consensus mechanism.
Omega is an initiative to converge all the ideas that Cardano has generated over the last seven years.
“Obviously we have the open-source project. We have somehow merged Minotaur multi-resource consensus with the Omega agenda. Quantum resistance. A whole bunch of things that we didn’t get around to in the first five years.”
Cardano prospects are optimistic
Crypto exchange Kraken says that there are two on-chain metrics measuring demand for digital assets that are suggesting a bullish outlook for Cardano (ADA).
In its March 2022 crypto on-chain digest, Kraken explained the fact that ADA’s transaction fees, the cost that market participants are willing to pay to use the blockchain, rose by over 50% year-to-date.
ADA’s transaction fee is rising amid a general decline in the transaction fees of other major crypto assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Tezos (XTZ).
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