Runtime Verification and the Cardano Blockchain. After five years of rigorous development, the Cardano development team finally started the migration from proof-of-work to proof-of-stake.
The transition was marked by the Shelley hardfork and it was received well by the entire Cardano community. However, Shelley was just the beginning. The Cardano development team intends to release another phase of the transition before the end of the year. Hoskinson said that project Catalyst has also been a huge success with over 3000 participants and counting.
As we move toward the release of Goguen, Cardano has signed a deal with Runtime Verification as well. This was the most interesting news from Hoskinson during the AMA. This seven-figure contract with Runtime Verification might just be what is required for Cardano to finally Overtake Ethereum. Hoskinson didn’t give all the details about the announcement but he noted that two groups from their development team will be in charge of Yella.
As stated in our previous Cardano News, Yella is a blockchain virtual machine that does everything the Ethereum Virtual Machine does and more. Hoskinson is so confident in Yella that he said it will make EVM look like a toy.
With Yella on the Cardano blockchain and Goguen set to make smart contracts work effectively on it, Ethereum might just be out of business. Everyone knows that Cardano has been gunning for Ethereum’s position as the foremost decentralized computer in the world. On more than one occasion, Hoskison has noted that Cardano’s goal is to make Ethereum obsolete. They already have almost everything they need and Yella will give them a virtual machine. We can’t know for sure how things will be in the future but Cardano is certainly preparing to take the lead.
- Cardano’s Charles Hoskinson Talks About Goguen Update and Runtime Verification Contract as he Announces Date for Roadmap
- With Goguen on the Way, There is a Strong Chance That the ADA Token Might Spike
In his last AMA session, Charles Hoskinson said that the Cardano development foundation is working hard to ensure that the upcoming Goguen update which is scheduled to take place this year. He said that the Cardano Foundation is working on marketing at the same time as development. They want to take a new approach to comparative marketing to ensure that they reach their goal of global adoption. To reach this goal, he is going to contact the head of marketing daily to follow up with their progress.
With Goguen on the Way, There is a Strong Chance That the ADA Token Might Spike
In other news, the Cardano ADA token might be primed for another bullish rally ahead of the successful implementation of Goguen. If people react to this next phase with the same enthusiasm as Shelley, the ADA token might retest its yearly high of $0.155 before the end of the year.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.