Charles Hoskinson, the CEO of IOG, who created Cardano (ADA), the largest proof of stake (PoS) blockchain, has outlined developments he expects Cardano to complete in 2022.
In a new interview with Crypto Capital Venture, Hoskinson was asked to outline the Cardano developments he expects to complete this year. In response, he said all that he has outlined, such as sidechains, Hydra and Mithril, will be finished this year.
Charles Hoskinson noted:
“I think everything will get done that I outlined – the sidechains, the pipelining, the import endorsers, the library optimization, Hydra and Mithril.
“Now there are degrees and flavors like there’ll be more Hydra stuff to do, but at least you’ll be able to use Hydra for something like microtransactions.
“Mithril will be probably completely finished because it’s a finite scope of work, and we had to bring on some sophisticated contractors for it.”
As described by Sebastien Nagel, Software Engineering Lead at Input Output Global (IOG), Hydra is a key layer 2 solution to further improve Cardano’s scalability, layering a new protocol on top of the existing layer 1 blockchain.
Mithril is also described as a protocol that aims to help users join the network with less technical overhead.
IOG boss further stated that while there will be ways to improve Cardano, the upgrades coming in 2022 have the potentials to make it more competitive among other smart contract platforms:
“You can always optimize pipelining and do more in those heartbeats and the same for input endorsers, there are always ways to optimize that.
“But some version of it will ship… I think we’ll be in an exceedingly strong position to match what we see with Solana and these other platforms, but have the added benefit of being actually decentralized and having real theory and strong foundations behind it.”