Connect with us

Hi, what are you looking for?



Cardano’s (ADA) Project Catalyst from IOHK to Utilize Community’s Innovative Perspectives to make it the World’s True Financial OS

Cardano continues to work towards being the biggest, largest, and greatest financial operating system in the world. IOHK has continued to pull resources to accommodate ideas to make shelly better and bring Goguen, Cardano’s smart contract layer to life. In addition to this, they are utilizing the power of a strong community to build an ecosystem that will make sure everybody’s voice is heard. Project Catalyst as recently presented by IOHK via YouTube video wishes to answer a question:

“How can we (Cardano) encourage developers and entrepreneurs to build Dapps and businesses on top of Cardano in the next 6 months?”

While introducing project Catalyst, Charles Hoskinson of Cardano stated that he could remember days of Bitcoin when great minds come together to share a common vision with ideas to move forward. But those times couldn’t continue as Bitcoin had a governance problem that pushed many great people out and many others to fork Bitcoin to create their own projects. Obviously, there were differences in opinions, technological, and philosophical perspectives. There was no way to accommodate all with their ideas. He said that Cardano must find a solution to governance problems if it will be the World’s Financial OS. This is the thrust behind Project Catalyst. 

The project will allow community members to share their perspective on the way to solve the challenge. It is believed that by sharing their perspective, better solutions can be arrived at. This way, the pitfalls other projects have fallen into can be avoided. According to the Challenge Exploration Guidelines:

“By sharing and reading other people’s perspectives, we will find better solutions. In fact, research shows that sharing perspectives before sharing solutions can increase the review score of the final proposals by 26%.”

The perspectives can be facts, opinions, trade-offs, wild thoughts, integrative solutions, etc. Members who wish to share their perspective with the community via Cardano’s IdeaScale website. 

Responding to this challenge, community members have begun to share their perspectives to be adopted by Cardano. An example is one from @BooneBergsma from WeThinkItMatters (WTIM) who shared a perspective and proposal about an easy to use web Dapp to encourage developers:

“A Web Dapp consisting of mobile-friendly front-end and scalable back-end designed to work with the Cardano blockchain. An online community where anyone can raise money for nonprofit causes with just the tap of their finger, no donation required. The most responsible and sustainable place in the world for businesses to advertise.”

Cardano is planning to move forward not just on the brilliance of its research and development team but also on the innovative perspective of a great community. Thus, it is preparing a solid foundation to establish itself with great Dapps when Goguen arrives.

News Source


Copyright © 2020 Elevenews