Cardano is making headlines again following their latest move.
Coindesk just revealed that Nervos and IOHK which is the development team behind Cardano would be co-authoring research papers on how you can improve UTXO models, open-source future developments, and explore the creation of a universal standard for the accounting method.
It’s been also reported that they will be forming an alliance with other UTXO-based blockchains in order to help collab across research, development and education in the industry.
The same online publication mentioned above cited Nervos and noted that UTXO, “which keeps track of a user’s unspent transactions across all their accounts and monitors every single transaction, is a more secure alternative to the account-based accounting method used by smart contract-based blockchains such as Ethereum.”
“UTXOs are superior to account models in many ways and provide improved security, privacy, and scalability, all of which are critical for DeFi,” said Kevin Wang, co-founder at Nervos as cited by Coindesk.
Cardano has been making a lot of headlines these days.
New announcement about Project Catalyst
Just the other day, IOHK just dropped a new exciting announcement about Cardano’s Project Catalyst. Check out their tweet below.
NEW POST: Project Catalyst is our experiment in #Cardano community innovation & governance. We just announced voter registration for Fund2 open. These are exciting days & just the beginning of a bold journey towards a revolution in blockchain governance https://t.co/zpP1sCJG4a
— Input Output (@InputOutputHK) December 11, 2020
Stay tuned for more Cardano-related news.
Cardano has been making a lot of headlines these days due to all kinds of achievements that the team behind the project marked and also thanks to the Foundation’s bold plans for the future of the project.