Charles Hoskinson outlines Cardano development plans for 2022

In 2022, the Cardano ecosystem is set to host a platform for building decentralized applications. Developers are also preparing a number of proposals to improve the network, IOHK chief Charles Hoskinson said.

According to Hoskinson, the main goal for the second half of 2022 is to integrate end-to-end microfinance transactions into Cardano.

He also noted that IOHK will establish “a formal open-source project structure akin to Hyperledger Fabric from the Linux Foundation.” In his view, this would help bring more institutional capital into the ecosystem.

Hoskinson drew attention to the Cardano Improvement Proposals (CIPs) prepared by developers. Among other initiatives, he cited a web wallet for interacting with DeFi protocols.

The IOHK chief noted that some CIP are already being tested on the testnet. As an example, he cited peer-to-peer transactions. The latter will make the ecosystem more decentralised, as validators will be able to communicate directly with each other.

On 28 December, Hoskinson released another video, in which he said that more than 175 projects are being developed on Cardano. Over 12 of them will launch in the first quarter of 2022.

DApps and Cardano DeFi Alliance https://t.co/3SAjOETAL3

— Charles Hoskinson (@IOHK_Charles) December 27, 2021

“Decentralized exchanges are already operating on the testnet. They also exist on the mainnet — there is strong competition,” he added.

Hoskinson said the first half of 2022 will be crucial for Cardano’s commercial deployment. In his words, in February developers will present improvements for Plutus smart contracts. The hard fork could take place as early as June.

In September 2021, IOHK activated the Alonzo upgrade, which enabled deploying Plutus smart contracts on Cardano’s mainnet.

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