Friday, January 15, 2021

Latest AMA: Charles Hoskinson Speaks about Upcoming OBFT Hard Fork, Improving Daedalus and Others

As the OBTF hard fork draws near, the CEO of Cardano (ADA) Charles Hoskinson surprised the community with an AMA. This was conducted on Sunday, 16th February 2020.

In this latest AMA, he discussed the importance of the upcoming OBTF hard fork, Byron reboot, Daedalus improvement and other important developments in the Cardano ecosystem.

Also, the recent donation of ADA by IOHK to the University of Wyoming was a point of discussion in the AMA.

Charles Hoskinson Speaks about the Upcoming OBFT Hard Fork

According to Charles Hoskinson, the update proposal for the OBFT hard fork was submitted on 15th February 2020. Initially, the scheduled date for this event as once announced by the CEO of Cardano is 20th February. And the same date was corroborated in the latest AMA.

Charles said the proposal habitually takes relatively five days to be accepted by the network. As soon as the OBFT hard fork is concluded, all the core nodes and relay nodes will be running the completely rewritten Cardano clients.

According to the report, a notable partnership will be necessary. This will take a lot of work on the explorer, which allows rapid addition to the codebase.

After the update, the Byron reboot will then be shipped to the end-user. According to Charles Hoskinson, the above process is believed to positively impact the performance and the user experience of Daedalus.

The Collaboration with University of Wyoming

The donation of $500,000 in ADA by IOHK to the University of Wyoming was a trending news a few days ago. This scenario alone made the University of Wyoming the first to accept a donation in ADA among groups of Universities.

According to CEO Charles Hoskinson, the purpose of this lab is of two kinds. The first is to work on trusted hardware and develop a chip that can be inserted into any product for authentication purposes. For instance, it can serve as luxury goods ownership tracker.

While the second purpose of the launched lab is to generate a knowledge base around Plutus. So, the success of this relationship will open the door for IOHK to build relationships with other institutions.

Necessities of Goguen

The development of a robust multi-asset standard will enhance the usefulness of the Cardano network. So, the Cardano CEO stressed the need for oracle solutions which can input information into Cardano (ADA) for smart contracts to consume.

This implies that any device inserted into Cardano would be able to connect to a personal data record and locally decrypt it. Also, it will be censorship-resistant and immutable.

The above illustration is the summary of the AMA conducted by the CEO of Cardano Charles Hoskinson on 16th February 2020, in preparation for the upcoming OBTF hard fork. The details of the AMA can be found in the video below:

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles