During a keynote at Rare Evo 2024, Cardano founder Charles Hoskinson revealed a series of great updates for the Cardano blockchain. Chatting with a various audience that included developers, stakeholders, and enthusiasts, Hoskinson outlined Cardano’s next steps in technology development, governance, and global outreach.

Cardano Roadmap For The Coming Months

The centerpiece of Hoskinson’s presentation was the introduction of Plutus V3, the newest iteration of Cardano’s smart contract platform, which is poised to bring enhanced functionality and improved safety features. “Plutus V3 is coming in only a matter of weeks. We got Ouroboros Leios, the paper got here out years and years and years of chasing how will we beat the blockchain trilemma. Well not only we Beat it, we kicked its ass and we’re working on it. We’re working on it along with Intersect with all of you prototyping in public with the people here. That’s the difference of Cardano,” Hoskinson said.

Further emphasizing technological strides, Hoskinson delved into Hydra, Cardano’s layer-2 scaling solution designed to extend the network’s transaction throughput exponentially. He provided an in depth explanation of Hydra’s mechanics, particularly its use of the prolonged UTXO model, which ensures that transactions are processed efficiently and securely. “Hydra is amazing technology. We’re so enthusiastic about Hydra, we designed prolonged UTXO specifically for Hydra. […] This ability to maneuver on and off the chain seamlessly. […] It just works, it’s secure it’s fast,” he noted.

A considerable portion of the keynote was dedicated to the evolution of governance inside the Cardano ecosystem. Hoskinson announced the approaching formation of what he described as “the biggest DAO within the history of cryptocurrency,” which can manage certainly one of the biggest digital treasuries. He detailed the structure of this DAO, which includes a tri party system of governance combining a constitutional committee, stake pool operators (SPOs), and elements of liquid democracy.

“This recent governance model is a revolutionary step towards fully decentralized and democratic management of a blockchain ecosystem,” Hoskinson said. He emphasized the potential of this technique to empower the community and foster a more inclusive decision-making process.

Highlighting Cardano’s international outreach, Hoskinson recounted recent engagements with governmental and academic institutions in Argentina, which underscored the worldwide interest in blockchain’s potential. “It was so cool we met with the federal government. We met with the mayor of Buenos Aires, we met with so many other amazing people they usually’re incredibly excited to receive us down on the University of Buenos Aires school of law for the Constitutional Convention. We’re going to have delegates from greater than 50 countries throughout to return and discuss what Cardano ought to be for the subsequent 10 years,” he shared.

Looking ahead, Hoskinson excited the audience with previews of the upcoming Cardano Summit in October. He announced a singular challenge that might highlight Hydra’s capabilities to administer a million transactions per second (TPS): a live, multiplayer Doom game session running on Hydra, where each frame of the sport represents a transaction on the blockchain.

“I got something for you. You get 30,000 concurrent players, 35 frames per second, 35 transactions per second, that’s about 1,000,000 TPS. […] We’re going to have a death match where people fight one another in Doom. We’ll discover a win to make it occur whoever wins gets $100,000 in USDM […] That’s how we get to that 30,000 players. Why? Because we wish to showcase the facility of this,” Hoskinson revealed.

Hoskinson concluded his keynote by reinforcing his dedication to advancing blockchain technology through rigorous research and community-driven innovation. He highlighted the resilience and growing capabilities of the Cardano ecosystem, emphasizing, “Each day, people on this room, people outside of this room, are united and asking the query, how will we make it simpler, faster, cheaper, easier, higher? Why? Because we wish crypto to take over the world.”

At press time, ADA traded at $0.3734.

Featured image created from YouTube, chart from TradingView.com