Cardano News

This monthly report on Cardano's Hydra and Mithril scaling projects provides an insightful overview of the latest advancements and plans. Notably, the Mithril team released a new distribution (2428.0) with critical updates, prepared for upcoming distributions supporting Cardano node 9.1.0, and showcased a transaction verification demo in the Nami wallet. Meanwhile, Hydra's roadmap saw significant progress with the completion of incremental decommits, integration of an SDK for wallet developers, and ongoing efforts towards defining Hydra Head V1. The July 2024 stakeholder meeting featured engaging presentations, including Blockfrost's Mithril certificate demo and discussions on enhancing Hydra's functionality, reflecting the community's growing interest and collaboration in Cardano's scaling solutions.

The Cardano Foundation participated in Project Catalyst Fund 12, where 258 projects received funding, highlighting the community-driven development of the Cardano ecosystem. Cardano-node 9.0.0 was released, adding on-chain governance, Plutus v1 reference scripts, and enhanced smart contract security. EMURGO announced the relaunch of the USDA stablecoin under Encryptus. Cardano Ambassador Lloyd Duhon discussed future governance innovations, including DReps and the Voltaire era. Additional updates include the release of Cardano Wallet v2024-07-19, support for Cardano Native Tokens by Tangem, and the launch of Cardano Codex 2024.

The ledger team focuses on testing for the Chang upgrade. Lace v.1.14 is upcoming. Hydra updated for node v.9.0.0 and simplified the demo setup. Mithril released distribution 2428.0, supported node v.9.0.0, fixed bugs, and optimized certification. Node users should upgrade to v.9.0.0. Fund12 results announced 258 new projects, with Town Hall 171 celebrating winners. Catalyst completed 900+ projects and allocated over 100M ADA. The education team is in Buenos Aires for the Cardano Developer course.

A blockchain hard fork upgrades the software run by distributed nodes, introducing new features and improving security. Cardano uses a hard fork combinator (HFC) for smooth transitions. The Chang Hard Fork requires 70% of stake pool operators and 80% of exchange liquidity to upgrade, marking the start of community-run governance outlined in CIP-1694. Part one includes the Interim Cardano Constitution and the Interim Constitutional Committee, while part two introduces Delegate Representatives, SPO voting, and treasury management, fully implementing decentralized governance by Q4 2024. This transition will make Cardano the first truly community-run blockchain network.

This week, the teams released node version 9.0.0, enabling the Conway ledger era with CIP-1694, Plutus V1 reference scripts, and CIP-69 support. The performance team released benchmarks for node v.8.12.0 and conducted DRep benchmarks. The consensus team supported the 9.0 release with security audits and NoThunks tests. The Plutus team improved contract blueprints and documentation. The Lace team focused on bug fixes. Mithril supported node v.9.0.0, worked on a new distribution, and fixed REST API bugs. Town Hall 170 and Fund12 voting concluded with 1.5bn ada used. The education team prepared for the Cardano Developer course and Voltaire training.

Decentralized applications (dApps) use programmable smart contracts on blockchain to provide accessible services without central authority. Unlike traditional apps with centralized backends, dApps run on open-source, decentralized networks like Cardano, offering transparency and security. Cardano, a third-generation blockchain, supports scalable, secure, and interoperable dApp development. Aiken simplifies dApp development on Cardano by offering familiar syntax, an easy compiler, and clear error handling. It’s used by popular Cardano dApps like Minswap, Sundae Swap, LenFi, and JPG Store, facilitating faster and more efficient dApp creation.

Discover the future of Cardano governance with Lloyd Duhon, covering the Chang upgrade, Delegated Representatives (DReps), and the DRep Pioneer Workshop Leaders Program. Learn how these innovations will empower ada holders in decision-making, from protocol parameters to treasury management. A comprehensive guide to Cardano’s Voltaire era and decentralized blockchain governance.

Community voting for Catalyst Fund 12 is active, with 4,800 wallets casting over 180,000 votes, representing 1.6 billion ada. Voting ends on July 11, 2024, at 11:00 AM UTC. The Cardano Foundation published a beginner’s guide to blockchain on July 3, covering its basics, history, types, applications, and regulatory landscape. The “A Spotlight on Stake Pools” series features C3ETH, a pool focused on community and decentralization in the eastern hemisphere. The latest Developer Blog features an interview with Daniel Friedman, CEO of zenGate Global, discussing their platform Palmyra, which tokenizes commodities for transparency in trading. Other news includes confirmed global Constitution Workshop locations, the tentative agenda for the Cardano Summit 2024 in Dubai, Cardano’s adoption of the IBC Protocol for interoperability, and the latest Catalyst newsletter and Essential Cardano development update.

Last week, core technology teams released Cardano node v.8.12.2, enhancing bootstrap peer networking. The ledger team worked on testing and updates, while Lace v.1.13 improved Trezor Safe 3 compatibility. Mithril advanced transaction certification, fixed bugs, and supported node v.8.12. Conway ledger improvements included credential restrictions and a new pricing model. Town hall 169 reported over 1bn ada in voting power. The education team prepared for the Cardano Developer course in Buenos Aires and updated content for Voltaire and Mastering Cardano.

Blockchain technology, initially linked to cryptocurrencies, now impacts various sectors by offering a decentralized, secure method for data management. A blockchain is a digital ledger of cryptographically linked data blocks, ensuring immutable records across a network of nodes. Unlike cryptocurrencies, blockchain serves broader applications beyond digital currency transactions.

Invented by Stuart Haber and W. Scott Stornetta, and popularized by Satoshi Nakamoto's Bitcoin white paper, blockchain addresses double-spending issues. It operates through nodes validating transactions, forming secure, tamper-proof records. Blockchain types include public, private, consortium, and hybrid, each suited for different use cases like supply chains, legal processes, digital assets, intellectual property, and voting systems.