EMURGO, founding entity of the Cardano blockchain, has recently reflected on the achievements of 2023 and has presented a road map for the ecosystem in 2024.
With a focus on sustainable community governance, technical advancements, interoperability and ecosystem expansion, Cardano aims to improve its position in terms of decentralized applications (DApps) and real-world Web3 solutions in 2024.
Cardano roadmap revealed
As EMURGO highlights in its roadmap, in 2023, Cardano took steps to establish sustainable community governance through initiatives such as CIP1694 and the launch of Intersect, a membership-based organisation.
According to the founding entity, these developments laid the foundation for blockchain's minimum viable community governance.
With a vision of 2024, the next Chang hard fork, which will be implemented by community consensus, will begin the “bootstrapping phase” of Cardano. governance model.
In particular, Delegated Representatives (DReps) will play a critical role as elected voting representatives of the community, participating in network-related decision-making processes.
Additionally, in 2024, Cardano plans to take further steps towards achieving full community governance, known as Voltaire. This involves hosting Cardano charter workshops, conventions, and voting events throughout the year.
These activities aim to “empower” the community by providing opportunities for active participation and decision making to shape the future of the community. ecosystem. EMURGO hopes that the progress made by Intersect will contribute significantly to the realization of full community governance.
Tokenization without Cardano smart contract
EMURGO notes that the Cardano blockchain has become a “thriving ecosystem” for decentralized applications in sectors such as decentralized finance (DeFi) and non-fungible tokens (nft).
The entity emphasizes Cardano's approach, which allows the issuance of tokens without the need for smart contracts, making it easier for brands and creators to adopt Web3 and tokenize real-world assets.
By the numbers, the ecosystem is witnessing a growing number of projects using Cardano technology, with more than 150 projects already launched and more than 1,300 in development.
In particular, EMURGO highlights programming languages such as Plutus, Marlowe and Aiken, along with open source tools, which provide developers with resources to create innovative blockchain solutions.
Furthermore, the founding entity emphasizes that Cardano recognizes the importance of interoperability and has developed a set of sidechain tools to allow developers to create sidechain solutions and seamlessly connect them to the ecosystem.
ADA sees impressive long-term rise
Cardano's native cryptocurrency, ADA, is currently trading at approximately $0.6346. Over the last 24 hours, ADA saw a slight drop of 2.14%. However, the cryptocurrency has shown resilience over the past seven days, with a positive growth rate of 3.52%.
If we look at the long-term trends, ADA has risen a significant 61.67% in the last 30 days and a remarkable 120.47% in the last 180 days.
According Token Terminal data, the market capitalization of ADA, based on the circulating supply of ADA, amounts to $21.80 billion. This represents a substantial increase of 56.89% in the last 30 days.
Furthermore, if the fully diluted market capitalization is considered, which takes into account the maximum supply of ADA, the figure rises to $27.99 billion, indicating a similar growth rate of 56.73%.
Featured image from Shutterstock, chart from TradingView.com
