IOHK’s Charles Hoskinson Shares Cardano’s 2021 Roadmap; ADA’s Recent Rise
Charles Hoskinson has provided details for major rollouts on the Cardano blockchain this year.
As 2021 gets into full gear, several blockchain companies have laid out plans to improve their offering to ensure better performance.
Cardano, one of the largest blockchain projects in the space, is also set to announce new functionalities.
Ready for 2021
Charles Hoskinson, the head of Input Output Hong Kong (IOHK), Cardano’s developers, shared a roadmap of events that could headline the blockchain’s activities in 2021. In a tweet, Hoskinson explained that IOHK is gearing up to release the codebase for Plutus, one of their latest products.
Plutus is set to be a Cardano-specific, open-source smart contract environment. It was built primarily to improve on flaws in Solidity, the smart contract language behind Ethereum. The functional language offers a more predictable, high-assurance code for decentralized application (dApp) developers.
As Hoskinson explained, IOHK plans to onboard developers to build on the Cardano blockchain. Once that is complete, the Plutus’ codebase would be released to the public for review.
Hoskinson added that IOHK would also disclose the canonical “design patterns” of Cardano’s smart contract usage, as well as best practices for dApps and DeFi protocols built on the blockchain.
ADA’s Technical Rally
Cardano has had a pretty exciting start to the year. Last week, the blockchain’s token, ADA, flipped Bitcoin Cash to become the seventh-largest cryptocurrency. A few days later, it surged past Litecoin to hold the sixth position.
While much of ADA’s rise has been due to a wider bull's market, Cardano's maintenance of its blockchain has also played a significant role.
Last year, Cardano launched the Shelley mainnet, kickstarting the transition into proof-of-stake (PoS) consensus. The release was a significant milestone, and it led to positive sentiment over ADA for the entirety of the year.
Despite its success, the Cardano blockchain still has some way to go. Most prominently, it's yet to deploy functional smart contracts. When this happens, large-scale decentralized finance (DeFi) protocols and other dApps will finally be able to launch on the blockchain.
Smart contracts on Cardano are different from other blockchains. They allow developers to deploy self-executing smart contracts based on programmed requirements. This provides greater functionality and flexibility to dApp developers.