Cardano charts a strategic path to 2030 with nine key focus areas
Input Output (IO), the research and development company behind Cardano, has introduced a Strategic Research Agenda to guide Cardano’s evolution toward 2030.
The plan defines nine areas of focus to increase the plan’s scalability, governance, interoperability, and security. Each area tackles a specific concern in the blockchain arena and positions Cardano for new possibilities.
Nine themes for growth and innovation
The Strategic Research Agenda is built around nine topics, including the world’s operating system, Ouroboros Omega, Tokenomicon, Global Identity, Democracy 4.0, the internet Hydra-ted, Interchains, Core Zero-Knowledge capabilities, and the post-quantum landscape.
These areas are in line with the strategic plan of addressing the challenges that blockchain presents and the preparation for Cardano’s tomorrow. Among the key goals of the “world’s operating system” is to enhance the performance of smart contracts and the infrastructure necessary for the development of new services. Ouroboros Omega will increase the overall efficiency of the blockchain to accommodate for higher volumes of transactions in the course of the Cardano ecosystem expansion.
To deliver on the full promise of blockchain, Input | Output Research is advancing a Strategic Research Agenda through 9 thematic focus areas.
— Input Output (@InputOutputHK) December 18, 2024
From scaling the Ouroboros protocol stack, to building a next-level identity and credential layer, and enabling seamless interchain… pic.twitter.com/RVzFEmOels
Tokenomics is another important area that comes to the fore. IO intends to investigate the use of additional transaction options, including Babel fees, as well as enhance the management of user-defined assets. The Tokenomicon initiative aims at exploring this relatively uncharted territory of blockchain technology.
Global Identity is another key focus area that focuses on integrating digital identity into the Cardano ecosystem. This initiative aims at plugging into governance structures, transactions, and smart contracts and fostering cross-cutting compatibility. Another major focus is Democracy 4.0, which aims to transform blockchain-based voting systems.
Additionally, the Hydra protocol aids Cardano’s scalability by increasing transaction speed and decreasing transaction costs. It is designed for high-load applications such as games and supply chain management.
Calls for governance reforms at the Cardano foundation
In related news, the founder of Cardano, Charles Hoskinson, has called on the Cardano Foundation to consider moving to a jurisdiction that supports community-driven board elections. He proposed Abu Dhabi or Wyoming as the possible locations for the shooting. The two locations are popular for offering support for the regulation of blockchain and encouraging innovation.
The Cardano Foundation is currently based on the Swiss legal framework. This legal framework does not contemplate community-based board votes. However, there are still demands for the organization’s reshuffling of its leadership even with the adoption of open forums to enhance transparency.
As stated by Hoskinson, relocation to either Abu Dhabi or Wyoming would enable the community to have more control over governance, leadership choices, financial management, and strategic direction. These jurisdictions offer additional inclusive spaces that might enhance the opportunities for community engagement.
As of this writing, Cardano is currently trading at $0.9917, registering a 7% decline in the last 24 hours. Additionally, in the last seven days, ADA has declined by 7.76%. Over the past month, it grew by 33.26% and over six months, it increased by 183.90%.
Cryptocurrency analyst Ali Martinez shared that when the price was between $1.15 to $1.33, whales decided to sell their tokens in order to make profits before the price drop. As the price went down to $0.91, these whales took advantage and bought more of it. As per Martinez, the entity had bought 160 million ADA tokens during the dip.
#Cardano whales took profits on the way up from $1.15 to $1.33, but after $ADA dropped to $0.91, they started buying again.
— Ali (@ali_charts) December 17, 2024
In fact, they’ve bought 160 million $ADA since the dip! pic.twitter.com/13RlCnMpIO
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Bitcoin Price Drops As Jerome Powell Says Federal Reserve ‘Not Allowed’ To Hold BTC
The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC.
Powell took questions from reporters after announcing the Fed it has lowered its key interest rate by a quarter percentage point in its third consecutive reduction.
When asked if he sees any value in the Fed building a Bitcoin reserve, Powell said current laws make it impossible.
“We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own and we’re not looking for a law change.”
The Federal Reserve Act outlines the types of assets the central bank can hold, primarily including US government securities, mortgage-backed securities, and other assets related to its monetary policy operations.
Powell says only a congressional act can allow the Fed to buy BTC – which is something he has no interest in.
“That’s the kind of thing for congress to consider, but we are not looking for a law change at the Fed.”
Powell’s statement sent BTC from around $103,700 to as low as $100,241 in less than an hour.
President-elect Trump has said he will ensure the US stops selling its trove of seized Bitcoin on the open market and instead strategically hold the asset as an investment. He has not issued a statement on the Fed directly buying BTC.
Wyoming Republican Senator Cynthia Lummis has introduced legislation that would direct the Fed to buy one million BTC over a five year period.
Whether her legislation will secure widespread backing within Congress remains to be seen.
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