EMURGO Reflects on Cardano Achievements in 2023 and Unveils Roadmap for 2024
EMURGO, one of the founding entities of the Cardano blockchain, has recently looked back on the accomplishments of 2023 and revealed its roadmap for the ecosystem in 2024. The focus for Cardano in the coming year will be on sustainable community governance, technical advancements, interoperability, and ecosystem expansion. The goal is to improve Cardano’s position in terms of decentralized applications (DApps) and real-world Web3 solutions.
Cardano Roadmap Revealed
In 2023, Cardano made progress in establishing sustainable community governance through initiatives like CIP1694 and the launch of Intersect. These developments laid the foundation for the blockchain’s community-run government. In 2024, the upcoming Chang hard fork will initiate the “bootstrapping phase” of Cardano’s governance model. Delegate Representatives (DReps) will play a crucial role as elected voting representatives of the community.
Cardano plans to take further steps towards achieving full community governance, known as Voltaire, in 2024. This involves organizing workshops, conventions, and voting events throughout the year to empower the community and involve them in decision-making processes. EMURGO expects Intersect’s progress to contribute significantly to realizing full community governance.
Cardano’s No-Smart-Contract Tokenization
Cardano’s blockchain has become a thriving ecosystem for decentralized applications in sectors like decentralized finance (DeFi) and non-fungible tokens (NFTs). The unique approach of Cardano allows token issuance without smart contracts, making it easier for brands and creators to embrace Web3 and tokenize real-world assets.
The ecosystem is witnessing a growing number of projects utilizing Cardano’s technology, with over 150 projects already launched and more than 1,300 in development. Programming languages like Plutus, Marlowe, and Aiken, along with open-source tools, provide developers with resources to build innovative solutions on the blockchain.
Cardano also emphasizes interoperability and has developed a sidechain toolkit to enable developers to build sidechain solutions and seamlessly connect them with the ecosystem.
ADA Sees Impressive Long-Term Surge
Cardano’s native cryptocurrency, ADA, currently trades at around $0.6346. While it experienced a minor decline of 2.14% in the past 24 hours, it has shown resilience over the past seven days with a growth rate of 3.52%.
Looking at longer-term trends, ADA has surged by 61.67% in the past 30 days and 120.47% in the past 180 days.
According to Token Terminal data, ADA’s market capitalization based on circulating supply is $21.80 billion, showing a significant increase of 56.89% in the past 30 days. The fully diluted market capitalization, which considers the maximum supply of ADA, stands at $27.99 billion with a similar growth rate of 56.73%.
Hot Take: Cardano Sets its Sights on Community Governance and Ecosystem Expansion
EMURGO’s roadmap for Cardano in 2024 highlights the importance of sustainable community governance, technical advancements, interoperability, and ecosystem expansion. With its upcoming Chang hard fork and plans for full community governance through Voltaire, Cardano aims to empower its community and involve them in decision-making processes.
The blockchain’s no-smart-contract tokenization approach and focus on interoperability make it an attractive ecosystem for decentralized applications. ADA has also shown impressive long-term growth, positioning Cardano as a promising player in the cryptocurrency market.
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