Key Notes
- The Cardano developer team is focused on solving the problem of scalability.
- With Midnight and Partnerchains at the helm, Hoskinson spotlighted challenges ahead.
- Cardano recently became a pioneer of the first tokenization reinsurance fund.
Cardano
ADA
$0.76
24h volatility:
3.4%
Market cap:
$27.74 B
Vol. 24h:
$1.52 B
founder Charles Hoskinson took to X to highlight the network’s pursuit of an omega that comes with unforeseen roadblocks. He emphasized how this ambitious journey comes with certain challenges, as well as surprises. Beyond these possible challenges, the Cardano developer team is more focused on solving the problem of scalability and privacy with Midnight Network, among other innovations.
Cardano Omega and Leios Lite for Enhanced Scalability
Charles Hoskinson started his post on X by saying that “The road to Omega is full of challenges and surprises,” but added that it is the solution to the pillar of scalability. It is worth noting that he referenced an earlier post by TapTools highlighting the capacity of Leios Lite, which Input Output Global plans to roll out as a major iteration.
According to TapTools, Leios Lite is capable of presenting up to a 30–55x increase in throughput to Cardano. This entity described Leios Lite as the first major step toward full deployment. In the long run, it could elevate Cardano’s transaction capacity and bring it into close competition with high-performing blockchains like Solana
SOL
$191.2
24h volatility:
5.0%
Market cap:
$103.95 B
Vol. 24h:
$11.18 B
.
Cardano already has tough competition building between itself and Ethereum
ETH
$3 882
24h volatility:
3.0%
Market cap:
$468.56 B
Vol. 24h:
$57.25 B
. As expected, Hoskinson is rooting for Cardano, stating that the Layer-1 blockchain must win against Ethereum in the long term, especially because his legacy depends on it. Over the years, the broader crypto community has seen Cardano top Ethereum in terms of core developer activity.
Meanwhile, the Cardano executive also mentioned Midnight and partnerchains in his recent post, citing that they deliver interoperability. Hoskinson believes that the network is on its way to having governance that is recursively self-improving.
He subtly threw a jab at other blockchains by referring to Cardano as the ONLY true 3rd generation blockchain. In his opinion, “the rest took shortcuts” while Cardano “chose innovation and progress.”
Cardano Becomes Pioneer of First Tokenization Reinsurance Fund
Cardano recently became a pioneer of the first tokenization reinsurance fund with MembersCap.
The new fund, dubbed “MCM Fund I,” is the first-of-its-kind institutional-grade offering in the industry. It is supported by several blockchains, including Aptos (APT), Base, and Solana.
MembersCap became the first fund to launch and record a transaction on London Stock Exchange Group’s (LSEG) DMI platform.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Godfrey Benjamin on X
Source: https://www.coinspeaker.com/road-to-omega-challenges-cardano-founder/
