Cardano's Hoskinson Shares Vision For 'Cardano Summer'
Cardano founder Charles Hoskinson has shared an over-optimistic vision for the future of the proof-of-stake blockchain platform, claiming that it could climb to the top of the cryptocurrencies list soon.
In a recent video, the crypto veteran talked about "Cardano Summer," claiming that the blockchain's native token ADA could surpass Bitcoin, Ethereum, and all other cryptocurrencies, thanks to a series of updates and proposals set to be released in the coming weeks.
One of the most significant updates is the CIP-1694 proposal, which aims to revolutionize Cardano's on-chain governance infrastructure and turn the network into a truly decentralized government.
The proposal is set to be integrated into the upcoming Voltaire update and will allow any user to submit a governance action.
Hoskinson also talked about Cardano's ongoing effort to measure and quantify decentralization using metrics such as the Genie and Nakamoto coefficients.
These metrics would provide valuable insights into Cardano's level of decentralization and could be adopted by major regulatory bodies worldwide.
By using these indicators to assess decentralization, policy-makers could formulate informed regulations and differentiate between cryptocurrencies as either commodities or protocols based on their decentralization.
The Cardano founder also addressed the ongoing regulatory turmoil and shared how the development team is tackling the issue.
Hoskinson emphasized the need for a more nuanced and optimized regulatory framework, which could be fostered through the adoption of decentralization metrics like the Genie and Nakamoto coefficients.
The statement comes as regulatory agencies in the US, particularly the Securities and Exchange Commission, have launched an
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