By George Ward
On December 19th, Cardano developers announced several enhancements to the Cardano blockchain. Among such improvements is the Cardano Improvement Proposal, also called CIP-1694.
The developers announced the development on Twitter, adding that the innovations will boost the blockchain and dApps.
The Cardano Improvement Proposal
The CIP-1694 is an invention created in partnership with Charles Hoskinson, the founder of Cardano. The CIP-1694 would act as a gateway that would take Cardano into the Voltaire stage.
The Cardano boss has asked community members to look at the proposal submitted last month by Jared Cordouan, a developer. Hoskinson told them to give both positive and negative reviews of the proposal.
Meanwhile, Voltaire is the next big step in Cardano’s network development life cycle. The team believes it would act as a guide to show the crypto community how to implement a decentralized administration.
Another breakthrough in the Cardano blockchain is the introduction of a price index. The tool tracks the price of Cardano-based native tokens in real time.
The Cardano team plans to deploy the tool locally without API or third-party assistance. According to reports, Cardano houses over 7 million native tokens.
Cardano-based DEX, which supports the price index already, are SundaeSwap, Minswap, and WingRiders. They are the three largest DEX on Cardano, according to TVL.
Cardano To Launch A Stablecoin In January
Meanwhile, one of the active blockchain projects in the crypto industry is the Cardano blockchain. According to reports, the blockchain has more daily projects on GitHub than Ethereum, Cosmos, and Polkadot.
However, the price of the blockchain’s native token, ADA, has plummeted in 2022 in tune with the bearish market. Despite this, earlier reports revealed that the blockchain added more than 100,000 new users last month.
Analysts predict that the crypto market will pick up pace in 2023. Hence, the crypto community might witness more user activities on the Cardano blockchain.
Also, these analysts referenced the last bearish market, which occurred in 2018 and was followed by a major jump in 2019. They believe this would be the case next year.
Besides, the bearish market, which occurred in 2019 and 2022, shares various similarities. The crypto community is counting on 2023 to be just like 2019.
Despite the recent crypto winter, the Cardano community continues to advance. The platform’s latest Vasil hard fork marked the beginning of the Basho developmental stage. Also, Cardano wants to launch a stablecoin next year in January.