- Hoskinson said in an AMA back in April that ZK-rollups will soon be available on Cardano.
- The CEO said that the rollout is happening quickly, with Midnight expected to be the first user.
In an intriguing update, Cardano CEO and founder Charles Hoskinson discusses the recent addition of rollups to the network. The founder of Cardano was asked which project he was talking about when he mentioned rollups or a rollup strategy in two separate YouTube broadcasts this year.
The sidechains project requires it. We are implementing on a very aggressive schedule. Midnight will be the first user
— Charles Hoskinson (@IOHK_Charles) July 22, 2023
Hoskinson said in an AMA back in April that ZK-rollups will soon be available on Cardano and that a “beautiful plan” was in the works. In answer to the user’s inquiry, Hoskinson mentioned rollups being necessary for some “sidechain” initiatives. He also said that the rollout is happening quickly, with Midnight expected to be the first user.
Trustless Ecosystem
Midnight, a privacy-focused blockchain launched by Cardano developer Input Output Global last year, will function as a sidechain of Cardano. By combining private and public computing with zero-knowledge cryptography (ZK proofs), Midnight will provide a trustless ecosystem for the secure and compliant storage of private and commercial information. Financial processes, healthcare information, and supply chain management are all possible use cases.
Cardano has made strides in developing Layer 2 solutions, notably sidechains and off-chain solutions (such as ZK rollups), which operate independently from the main blockchain.
The team behind Cardano, Input Output Global (IOG), has released a new update for Mithril, a solution designed to improve the platform’s speed and safety.
On July 20th, IOG announced that Mithril had entered the testnet phase. In the next months, it will be released to the mainnet in stages. Cardano’s principal developer has expressed optimism that Mithril will improve the mainnet’s speed and functionality, albeit it acknowledges that the full effects won’t be seen for some time.
Highlighted Crypto News Today:
Shibarium Testnet Hits 31M Transactions Ahead of Mainnet Launch
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://thenewscrypto.com/blockchain-news-cardano-founder-charles-hoskinson-reveals-rollup-strategy-updates/
