In a recent YouTube AMA sessionCharles Hoskinson announced that Cardano, a blockchain network, remains Completely dedicated to decentralization.
Ordinal works best on Cardano
During the AMA, the tech contractor also Suggest that Bitcoin ordinal is best Appropriate for Cardano claims, since the blockchain, that it has a better ecosystem.
The ordinal order includes a technology that allows “Engrave” every Satoshi with Distinctive label and additional details. Accordingly, each inscription unique And it can be tracked in Bitcoin or any other network They are registered in.
Specifically, the ordinal order allow users store various Data types, including text, graphics, and encoded language directly on bitcoin network.
These inscriptions may be minted with a name unique assetssimilar to non-fungible tokens (NFTs), without using Smart contracts. because they are uniqueEach inscription can be traded and stored in Ordinary wallet.
Each pattern must adhere to a certain size limit on blockchain bitcoin. This means that the data is interconnected and can fit to an allotted size.
Decentralization and regulations
In a recent report, the CEO emphasized that the Cardano Improvement Proposal (CIP-1694) will significantly influence the decentralization discussion by providing framework for onJudgment chain l support the networkVoltaire phase.
CIP-1694 is a proposal that specifies a new onGovernance Series system in Cardano where any user can submit a suggestion. The idea is set out in March 2023 but being developed and discussed. However, this proposal can be combined in July 2024.
Hoskinson thinks it’s gradual move towards the will of decentralization help blockchain complies with Cryptographic regulations set by the authorities.
Founder of Cardano believes that decentralization initiatives are essential to incorporation regulatory Standards. In his assessment, the authorities may in the end view Cryptocurrency initiatives as protocols or commodities.
At present, Cardano is working on Platform sizing on-series in Basho stage. In the previous phase and developers Activate the smart contract capability during the Goguen phase.
