Tim Harrison is more than just the VP of Community and Ecosystem Communications at Input Output Global (IOG); he’s the ace up their sleeve when it comes to promoting Cardano and its associated technologies. Harrison brought his expertise to IOG in 2019 and has become a critical piece of the puzzle for raising awareness of the network’s potential.
The Cardano360 presentation is an eagerly awaited event presented by IOG, dedicated to updating the Cardano community and interested parties on the latest developments, progress, and upcoming milestones in the Cardano ecosystem. With this presentation, IOG executives and key team members get to showcase the new technical developments, partnerships, ecosystem growth, upcoming events, and answer questions from the community.
The most recent Cardano360 was posted on YouTube on April 27th, 2023. In the video, Tim gets things started by introducing a conversation between Rudi Ribeiro (IOG), Alex Apeldoorn (IOG), and Thomas Olofsson (FYEO) on the topic of the newly launched Lace wallet and how the auditing process helped influence it’s development.
Lace Wallet Takes Flight
Lace could be the perfect match for those seeking a convenient, user-friendly platform to manage their digital assets and participate in the Cardano ecosystem. The new Lace wallet provides a simple staking experience, sends and receives ADA, manages non-fungible tokens, and interacts with dApps. Lace also has Ledger hardware wallet integration and transaction history without any unnecessary hassle. Upon adding the Lace extension to Chrome, users will be notified that the extension will read their browsing history. The Lace Team points out that this is required by Google for any Chrome extension that uses the Tabs API to pull information from the dApp being used.
Lace has been designed with input from an auditing firm called FYEO, who’s website says they specialize in securing “enterprises and individuals from cyber-attacks with security audits, real-time threat monitoring and intelligence, anti-phishing solutions and decentralized identity management.” The Lace wallet’s security and privacy features are bolstered by having an independent and objective auditing process integrated into the development of the product.
Zero-Knowledge Magic
The IOG ScotFest event held last year in Edinburgh, Scotland included extensive discussions on an exciting new technology that has enormous potential. The innovation is called Zero-Knowledge Proofs (ZKP). Dr. Vanishree Rao, head of Applied Cryptography at IOG, joined Tim on Cardano360 to talk more about it.
“IOG is heavily invested in the Zero-Knowledge Proofs and has developed various cutting edge research results including [Models for Generation of Proof Forest in zk-SNARK Based Sidechains] and [Zswap: zk-SNARK Based Non-Interactive Multi-Asset Swaps].”
Zero-Knowledge Rollup (ZK Rollup) is a groundbreaking scaling technique that processes a large number of transactions off-chain, resulting in increased scalability and system efficiency. It tackles the problem of execution bloat by bundling multiple transactions and processing them off-chain using a smart contract that generates cryptographic proof verifying the validity of the transactions. This proof is then submitted to the blockchain as a single transaction, significantly reducing the amount of data that needs to be stored on the blockchain.
Imagine you cracked a tough Sudoku puzzle like a boss and you want to convince me you did it without spilling the beans on the solution. That’s where ZKPs come in. These nifty tricks let you prove your point without giving away any of the juicy details. It’s like a magic act that leaves the world stunned by your ability to back up your claims without revealing the secret sauce.
Dr. Rao says Zero-Knowledge Proofs are being embraced by the blockchain industry due to the privacy and integrity that they can bring to a blockchain’s architecture. ZKPs give dApp developers the ability to be compliant with applicable requirements without sacrificing the privacy of their users.
Hail Hydra
Have you ever heard of Hydra? The goal of Hydra is to make Cardano even better by making it more flexible and easy to use, with transactions that are super fast and cheap. It’s like having your own personal Cardano and you only involve the people who really need to be involved. This makes the transactions fast and doesn’t hurt your wallet too much! Hydra’s first iteration has been launched and a new door to amazing possibilities has been opened!
Version 0.10 can run on the Cardano mainnet. However, Hydra is not a complete network upgrade; it’s actually a software component that helps dApps process transactions faster on a layer two level. It’s a good starting point for exploring Hydra, although it’s not the final version. The team is actively listening to users and making improvements based on their needs. Their focus is on driving Hydra’s development by working on different use cases like payments, auctions, and voting. The overall goal is to develop the features and flexibility of the Hydra Head protocol for broader adoption.
Governance Redefined
CIP 1694, the decentralized governance model of Cardano, is a breath of fresh air in a world where centralized governments and corporations often prioritize their own interests over the broader community. The inclusive and transparent decision-making process empowers a diverse group of stakeholders to represent the interests of the ecosystem, leading to sustainable and equitable outcomes.
Voltaire kicked off in November of 2022, and since then, it has witnessed a significant surge in progress and engagement. In the month of March, a series of workshops were conducted, both in-person and online, which provided invaluable insights to the IOG team. Brace yourself for community events that will be taking place around the world, along with a lineup of workshops scheduled to be held in Switzerland, Scotland, and Japan. Sheldon Hunt, Engagement Lead at IOG, urges the Cardano Community to maintain a strong connection with the Voltaire process through multiple channels, including GitHub, Twitter, and Discord. He goes on to emphasize that the presence and active participation of the community will contribute to the monumental success IOG is aiming to achieve in the year that lies ahead.
Web3 Gaming
Paima Game Studios, a company specializing in blockchain-based games and apps, is cooking up a web3 engine for companies who want to effortlessly dive into the web3 world. Sebastien Guillemot, Co-founder of Paima, says their engine packs some awesome features. First off, there is a growing number of companies that want to get their games on-chain, but they aren’t savvy with Plutus or Solidity. Now they can flex their web 2 skills and whip up games using JavaScript, Unity, GameMaker, or similar tools. The Paima engine transforms these games into web3 applications. Plus, Sebastien and the team are focused on security. They ensure the games are non-custodial, so even if there’s a pesky hack or slip-up, user funds stay protected.
Sebastien also wants to introduce the world to “evolvable NFTs.” These little beasts can morph and change over time based on the rules set by developers! Each user has an NFT record of wins, losses, items, history, and equipment all in one place. By linking this info to each NFT, developers can seamlessly roll out regular updates to their games while keeping things safe and sound.
Paima isn’t done yet. While they’re obviously big fans of Cardano, their engine plays nice with Polkadot wallets, EVM wallets, and even other cool ecosystems like Algorand down the road. Paima just launched their developer preview, and the response has been off the charts! Over 20 companies are lined up to join the party.
Cardano Foundation Annual Report
The Cardano Foundation is an independent, non-profit organization dedicated to advancing the public digital infrastructure of Cardano. The mission is to promote new technologies in the field of digital infrastructure and create a world where technological systems are transparent and accountable. The CF aims to inspire individuals, institutions, and organizations to recognize the potential of blockchain and join Cardano on this transformative journey.
According to Frederik Gregaard, CEO of the CF, the Cardano Foundation accomplished significant milestones in 2022. With a strong emphasis on operational resilience, education, and adoption, the Foundation delivered technical assistance to enhance and uphold Cardano’s infrastructure. In the Foundation’s Annual Report for 2022, there are details on how the organization pioneered an innovative blockchain education initiative and forged strategic partnerships with various businesses, institutions, and non-governmental groups. By implementing a prudent financial strategy to fund its strategic objectives, the Foundation successfully expanded its team and allocated resources judiciously, ensuring the sustained prosperity of the CF.
Wrap-Up
Tim Harrison ends the April Edition of Cardano360 by urging everyone to check out the Essential Cardano Blog for some exciting updates! Tim reminds the viewer not to forget to subscribe to IOG’s YouTube channel to stay up to date with the latest news on Project Catalyst, which has some big announcements coming up in May!
Things change fast on Cardano, but IOG is going out of their way to keep the community involved in development; this is highly appreciated by many ADA holders and will continue to be a hallmark of this amazing project.
