Over 8% has been recorded in the value of the digital currency cardano over the last 24hrs and 25% within the last 7 days. The price move follows an update on Charles Hoskinson’s and IOHK’s plans for the Cardano network in 2022.
Charles Hoskinson’s 2022 Cardano Outlook: ‘A Formal Open-Source Project Structure Is Going to Be Formed’
Cardano (ADA) supporters were pleased to get two updates from IOHK, the team behind the crypto project’s development. Charles Hoskinson was the Cardano founder and spoke 30 minutes to explain his future goals. “My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano,” Hoskinson said during his video.
Hoskinson added that Linux-like open source software would also be implemented. “A formal open-source project structure is going to be formed, kind of like Hyperledger to Linux,” the Cardano founder disclosed. Hoskinson also said there are “almost 15 companies working on Cardano right now across the world — The sun never sets for the project.” The Cardano executive stressed:
This will allow us to increase the number of people involved, eventually reaching thousands. Institutions like universities and nations-states need to collaborate actively and share in this success.
IOHK Blog Post Highlights ‘Realfi’ and the ‘Greenest Coin’ Compliment
In addition to Hoskinson’s 30-minute Youtube talk on Christmas Eve, the development team behind Cardano, IOHK, also published a post that explains how users can introduce family members and friends to ADA during the holidays. The post explains how the Cardano team is focused on decentralized finance (defi) but refers to it as “Realfi.” The blog post details that there are around a billion people with no legal identity and this is where Realfi can help.
“There’s where Cardano steps in, thanks to real finance, or Realfi,” IOHK’s blog post details. “Cardano can give those billion people an identity. In fact, they have a digital identity that can be used to gain access to finance. Realfi creates value and opportunity for the real people who really need these things.”
IOHK’s blog post also highlights the fact that the network uses a negligible amount of energy consumption in comparison to Bitcoin’s proof-of-work consumption. The development team noted how it was dubbed “the greenest coin,” back when ADA saw some limelight after Elon Musk criticized the BTC network’s energy consumption. IOHK has added:
Most people have heard of the energy crisis and climate change. Cardano can be described as a “green blockchain” because it uses less energy to make new blocks than either the Bitcoin and Ethereum networks. Because Ouroboros uses proof-of-stake protocols, this is why.
Cardano’s (ADA) value has risen by more than 8% during the last 24 hour and is currently up 25% for the week. Year-to date statistics show that ADA has increased 887%, but it is still down 49.2% from the $3.09 unit mark on September 2, 2021. At the time of writing, ADA’s 24-hour price range has been between $1.43 and $1.59 per unit.
What do you think about cardano’s recent market performance and the updates from Charles Hoskinson and IOHK? Please comment below to let us know your thoughts on this topic.
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