Cardano update: Patch for incentivized testnet ready

  • In a new AMA session Charles Hoskinson announced that the developers will release a patch for the incentivized testnet next week.
  • The patch should increase the security and stability of the network.

Cardano launched the incentivized Testnet (ITN) at the end of last year and has since achieved numerous milestones. The testnet has been well received by the community, with 240 stake pools already formed within the first 48 hours and over 5.4 billion ADAs, around 17 percent of the total supply, delegated. A few days ago, the number of stake pools was already over 500.

Developers to release patch for ITN next week

In a new Ask-Me-Anything session, Cardano’s founder Charles Hoskinson informed about the latest progress. Hoskinson describes that the developers worked through 4 months before Christmas and took time off over and after Christmas. Therefore all bugs have been collected so far and are now fixed in a new patch. This patch will be released next week and will mainly improve the network security and stability.

Hoskinson describes that in the incentivized testnet measures have already been implemented that can quickly and easily eliminate bad or counterproductive behavior or behavior that would harm the community. For this purpose Cardano has integrated a seizure mechanism that is easy to apply and use:

We have a pleding mechanism: It would be very easy for us to install punitive measures with that pledgning mechanism. For example if somebody makes multiple logs for different chains.

Currently, the team is collecting a lot of data and will use it to plan and implement the next steps of the test network. The code used will be the Haskell code, which will later ensure that everything runs smoothly. The Haskell code offers the developers numerous customization options, so that they can react flexibly and quickly to newly occurring bugs.

Hoskinson continues that by the end of this month the biggest bugs will be fixed. He also met with Peter Schwabe to discuss further research goals for this year. One of the goals is to equip Cardano against attacks from quantum computers. The CEO is very optimistic for the next few weeks, as his team is working harder than ever before:

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We are far more commercialy orientated that we have ever been and we are far more disciplined that we have ever been as a company. So I am very optimistic that we should easily satisfy the requirements for shelley, Goguen and should also get easily implemented Voltaire.

Hoskinson is confident that Cardano will be a successful platform for smart contracts once Goguen is implemented. Ethereum has several standards like ERC20, ERC721 or the Ethereum Security Token Standard. Cardano needs competitive offers to enable interested parties to issue assets on the Cardano Blockchain.

Cardano must prove that it is a better ledger to satisfy the complex requirements of the corporate world. Cardano is also working on developing an Oracle standard and is involved in the “Prism” project, which is part of the Shelley team and is working on the development of a digital identity.

Hoskinson has given this project a very high priority. It should be completed by the end of this year. Overall, Cardano has set itself many goals, but according to Hoskinson, they are easy to achieve. The price of Cardano has been trending sideways within the last 24 hours – 0.33% and is at 0.0371 USD at the time of writing.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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