The development report highlights continued ecosystem growth, with the number of projects building on Cardano reaching 2,004. The consensus team enhanced the Leios simulator and improved resource management in UTXO-HD. The Lace team released v.1.24 with multichain and user-centric upgrades. Mithril focused on the DMQ network, while Hydra released v.0.22.0. The community also voted in favor of the Intersect budget info action, paving the way for treasury withdrawals.

A June 23, 2025, blog post by Fergie Miller summarizes a Cardano R&D session on Layer-2 expansion beyond Hydra. The session featured presentations on Midgard (an optimistic rollup), a zk-rollup from zkFold SA, a ZK bridge from Eryx Cooperativa, and Gummiworm (a scalable rollup from Sundae Labs). Key discussion themes included interoperability, capital fragmentation, and the importance of security.

A June 23, 2025, IOHK blog post by a team of researchers explores the concept of slashing as a security mechanism in blockchains. It contrasts Ethereum's slashing-based model, where validators risk losing staked assets for misbehavior, with Cardano's non-slashing approach. The authors argue that slashing is ineffective against majority attacks and can deter participation, while Cardano’s method, relying on formal verification and stake-weighted incentives, provides robust security without these drawbacks.

Input Output Global (IOG) introduced the Cardano Blueprint, a comprehensive, open-source reference guide to the platform. This living document is designed to be a single source of truth, detailing Cardano's core components, architecture, protocols, and design principles. The Blueprint aims to enhance transparency and accessibility for developers, researchers, and the wider community. By providing a standardized technical reference, it seeks to improve the onboarding process and foster a deeper understanding of Cardano's intricacies.

The report highlights significant work by the ledger team to modernize the codebase and prepare for an upcoming intra-era hard fork. This included enhancing CDDL specifications, reducing technical debt, and conducting preliminary work on nested transactions. The report also touched upon future node improvements like log-structured merge (LSM) trees and revised stake pool incentives. Governance participation continued to grow, with an increase in the number of registered DReps.

The report highlights the release of Lace wallet v.1.23, which features a more accurate pricing feed for Cardano native tokens in response to community feedback. On the scaling front, the Mithril team delivered support for node v.10.4.1 and UTXO-HD in their tools and advanced the development of the DMQ node. The Leios team finalized an analysis of overcollateralization models and progressed on their Rust-based simulation framework for evaluating transaction duplication and conflict likelihood.

A blog post by Input Output Global (IOG), details the evolution of the Cardano node from a monolithic application into a modular framework. This transformation breaks the node into smaller, independent components for aspects like consensus, ledger, and networking. The post explains that this modular design enhances flexibility for developers, simplifies updates, and critically, fosters client diversity. By enabling the creation of alternative node clients, this evolution aims to improve the overall resilience of the Cardano network.

The report highlights the release of Lace wallet v.1.23, which features a more accurate pricing feed for Cardano native tokens in response to community feedback. On the scaling front, the Mithril team delivered support for node v.10.4.1 and UTXO-HD in their tools and advanced the development of the DMQ node. The Leios team finalized an analysis of overcollateralization models and progressed on their Rust-based simulation framework for evaluating transaction duplication and conflict likelihood.

The report highlights the bridging of Bitcoin Ordinals to Cardano via BitVMX and a new partnership between the Cardano Foundation and UNHCR for a crypto-backed ETP supporting refugees. Core technology work focused on performance benchmarks and preparing for the LSM-tree storage layer. The consensus team onboarded to the Leios simulator and patched several CDDL specifications. Smart contract work included enhancing CEK-machine diagnostics and expanding documentation.

The report highlights the release of Cardano node v.10.4.1, introducing the UTXO-HD feature for flexible UTXO set storage. Ecosystem updates include Flow DeFi releasing its litepaper and integrating with Strike Finance, Trust Wallet enabling in-app DRep delegation, Emurgo announcing it will no longer use genesis ada for governance, and a new Liqwid Labs integration with Begin Wallet. Growth continued in projects, transactions, and smart contract deployment.