Cardano To Kickoff 2022 Perfecting Its DApps Ecosystem With Paramount Developments, Charles Hoskinson Reveals

CEO of IOG, Charles Hoskinson reveals Cardano is dedicating the next 6 to 9 months to perfect DApps. Read the full article by Olivia Brooke “Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.”

Cardano just a few months ago launched smart contract capabilities on its blockchain allowing for apps to be built on top of it. Dapps can be anything from decentralized lending and borrowing as well as DEXs. This makes Cardano even more direct competition for Ethereum.

CEO of Cardano, Charles Hoskinson, now said that Cardano will be spending the next six to nine months working on its ecosystem of decentralized applications. Hoskinson revealed this in his first podcast of the year and highlighted the advantages of using Cardano for development over others like Ethereum.

One of these advantages is the expressiveness of the programming language used by IOHK. He says that you can consider the languages to be on a spectrum from Bitcoin being the lowest since it is very restricted in its UTXO but is highly secure. The highest end of the spectrum is Java Virtual Machine where you can use just about any programming language but is very vulnerable to hacks.

“One of the first parts of the research agenda when we were looking at taking the UTXO model, because we really liked this functionality idea…, we said well let’s make it a bit more extensible and so we wrote the extended UTXO model. And really, we think that for a large class of applications, the sweet spot will be somewhere in the middle.”

Currently, some Apps being worked on include a DEX called sundae swap which will be a place to exchange tokens built on Cardano. Another is called Singularity which is an Artificial Intelligence-powered marketplace.