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Charles Hoskinson, the visionary founder of Cardano has offered a detailed update on the status of Cardano’s ecosystem and the impending modifications to its governance structure. In a Friday session, Hoskinson delved into various aspects of Cardano’s progress, with a particular focus on Project Catalyst.
Project Catalyst- Treasury of Cardano
Project Catalyst, often referred to as the “treasury of Cardano,” is a groundbreaking initiative that empowers the Cardano community to propose, vote on, and fund various projects using ADA tokens. Notably, mid-last month, IOG, the organization behind the Cardano protocol, wrapped up Project Catalyst’s Fund 10 campaign aimed at assisting emerging startups in the ecosystem.
Hoskinson emphasized the significance of Project Catalyst within Cardano’s ecosystem noting that it serves as an innovation engine, allowing the community to propose and prioritize initiatives that drive Cardano’s development and expansion. With the decentralization of funding, Cardano is well-positioned to support a wide range of projects, from infrastructure development to educational initiatives and beyond.
“Catalyst will still be around but then it could take its place as an innovation agency and help bootstrap the next thousand daps the next thousand good ideas,” said Hoskinson.
Cardano’s Ecosystem Progress
That said, beyond Project Catalyst, Hoskinson provided insights into the broader technical developments underway in the Cardano ecosystem. He highlighted advancements in Cardano’s smart contract capabilities and programming languages. The ecosystem continues to improve core technologies such as extended UTXO, Mithril, and Plutus positioning Cardano as a hub for decentralized application development.
Hoskinson also discussed the challenges and learnings from previous experiments, such as Plutus Application Backend (PAB) and Yella. These experiences underscore the importance of maintaining a stable and adaptable layer-one protocol, reinforcing Cardano’s commitment to continuous improvement and innovation.
In closing, Hoskinson celebrated Cardano’s remarkable progress and the collaborative spirit of its community, urging people to ignore FUD perpetuated against Cardano.
“We have to push forward and keep going. We can’t allow us to perseverate on things in the periphery that don’t really matter and don’t have a bearing or impact on where things are,” he added.
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