LAS VEGAS–(BUSINESS WIRE)–$TIXT—TELUS International (NYSE and TSX:TIXT), a leading digital customer experience (CX) innovator that designs, builds and delivers next-generation solutions for global and disruptive brands, today announced the appointment of Dr. Lucy Rattrie as a Global Director of Workplace Wellbeing. Dr. Rattrie is a leading chartered psychologist, researcher and author with experience in psycho-social […]

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The software platform Cardano has entered the third stage of its roadmap, the Basho era. It promises to improve the network’s performance and scalability. Cardano’s roadmap is “a summary of Cardano development” divided into five eras to deliver improvements in diverse functionalities of the network that are “delivered across multiple code releases”. Now that the platform’s core smart contract capability Plutus has been deployed, the launch of the Basho era focuses on scaling Cardano, promising “Parameter adjustments, improvements, enhancements and other innovations” supposed to increase the network’s capacity. They also call it “an era of optimization”, promising to enhance the performance and interoperability “to better support growth and adoption for applications with high transaction volume.” It is supposed to bring high performance, resiliency, and flexibility to the network. Related Reading | Cardano Foundation Completes Funding To Plant 1 Million Trees Scalability And Interoperability Scalability and interoperability are some of the main solutions that Cardano wants to offer as the “ethereum killer”. While the Ethereum network is working to handle up to 100,000 transactions per second (tps), Cardano plans to reach millions of tps through the second-layer solution Hydra. On the interoperability’s side, the Basho stage will introduce the sidechains, “new blockchains, interoperable with the main Cardano chain”, which eventually intends to allow the blockchains, with different architectures and codes, to be able to communicate: interoperate. The Cardano Roadmap explains that “Sidechains can be used as a sharding mechanism by off-loading work from the main chain onto a sidechain to increase the capacity of the network. They can also be used to introduce experimental features without affecting the security of the main blockchain.” Similarly, this stage will also introduce parallel accounting styles: “the ability to support and switch between UTXO and account-based models will be added using sidechains.” This is also meant to enhance interoperability and “support new kinds of use cases on the network.” “Building on these foundations, and steadily increasing capacity and throughput to deal with the growth in the DApp ecosystem and onboard first hundreds of thousands, then millions of new users. From DeFi degens to citizens of developing nations.” Cardano has been widely criticized for its slow start. Many people thought the platform was lagging behind, noting it took a long time to deploy its first smart contract. However, the CEO of the Cardano Foundation Frederik Gregaard argues that they take a careful approach to launch functions, with rigorous testing and peer review. This time around, the Basho stage’s launch report noted that they expect “periods of high demand, network congestion at times”, but they see it as part of the ‘journey’ and added that they will be maintaining a “considered, safe approach”. “We’re on an exciting journey and usage will be high. While we may at times feel impatient, this is the way. Here’s how we will optimize and scale as we grow.” What The Basho Era Promises To Solve The optimization and scalability improvements have been divided in the report between “on-chain solutions” and “off-chain solutions”. Here is what they intend to solve: For on-chain solutions: Block size increase: the network recently increased the block size by 12.5% to 72KB and “further increases will be applied over time”. Pipelining: intends to propagate blocks “to at least 95% of peers within five seconds” to provide “the headroom to make more aggressive scaling changes”. Input Endorsers: “This improves the consistency of block propagation times and allows higher transaction rates.” Memory /CPU parameters for Plutus: improves the efficiency of memory usage across the chain. Plutus script enhancements: a “more effective usage of the powerful EUTXO model through smart contract optimization,” Node enhancements: intends to “help even distribution of stake and reward computations across the epochs”. The new node version “reduces peak load at critical points,” On-disk storage: “RAM-constrained systems will be able to run nodes (…) and memory will no longer be a bottleneck on scalability.” For off-chain solutions: Sidechains: “Assets can be moved between chains as needed.” Hydra: “provides a more efficient means to process transactions off-chain,” Off-chain computing: “Transactions occur outside of the blockchain itself, yet can offer fast, cheap transactions via a trust model.” Mithril: results in “Multi-signature aggregation that is fast and efficient without compromising security features.” Related Reading | Cardano’s Ecosystem Explodes, Why ADA Could Be Quick To Resume Bullish Trend ADA’s Price ADA trades at $1,28 at the time of writing, up 3.74% in the last 24 hours, but 59.1% down from its last peak in September 2021. ADA trading at $1,28 in the daily chart | Source: ADAUSD on TradingView.com

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Payments giant Visa has teamed up with the blockchain software company ConsenSys to build an on-ramp for central bank digital currencies (CBDCs). The pilot program will begin after discussions with roughly 30 central banks about its development and potential. According to Bloomberg, Visa will launch a ‘CBDC sandbox’ this spring, where central banks can experiment with technology after minting on Consensys’ Quorum protocol. The latest tech will allow the enabling of plugging into existing payments modules. This means traditional finance companies will be able to integrate the infrastructure to issue things like CBDC-linked Visa cards or digital wallets anywhere where Visa is accepted globally. Commenting on the development, Catherine Gu, Visa’s Head of CBDC, said: “CBDC could expand access to financial services and make government disbursements more efficient, targeted, and secure that’s an attractive proposition for policy makers. With CBDC, a central authority could send fast payments to a targeted set of users and program specific spending parameters.” Mastercard launched a similar CBDC testing platform in 2020. Currently, Visa offers payment cards linked to USD Coin, stablecoin issued by a consortium that includes Circle Internet Financial Inc. Earlier in December 2021, Visa helped in the formation of a global crypto advisory practice to help financial institutions develop their cryptocurrency businesses as demand for crypto products continues to grow. Meanwhile, ConsenSys is already one step ahead in helping develop CBDCs in Australia, France, Hong Kong, and Thailand.

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