EMURGO Anticipates Cardano’s Flourishing Future

EMURGO, an original constituent of the Cardano blockchain, contemplates the progress achieved by the chain as 2023 nears its conclusion and enthusiastically predicts the developments that will transpire in 2024.

As stated by EMURGO, Cardano laid the groundwork for community governance using the CIP 1694 on-chain decentralized governance mechanism and the formation of Intersect, an organization comprised of members.

The forthcoming Chang hard fork in 2024 holds significant potential as it will signify the preliminary stages towards establishing community-run governance that is, at best, functional.

This hard fork, initiated with the approval of the Cardano community, implements a consensus mechanism and commences the bootstrapping phase for the Cardano governance model.

Furthermore, EMURGO asserts that significant progress will be made toward complete community governance for Cardano by 2024.

Workshops on the Cardano constitution, conventions, and voting events are all on the cards, in addition to ongoing developments from Intersect.

EMURGO reports that the Cardano blockchain has evolved into an ecosystem for decentralized applications in fields such as DeFi and NFTs.

Significantly, the platform facilitates the tokenization of tangible assets and ostensibly simplifies entry into Web3 by enabling token issuance without the need for smart contracts.

Over 150 projects have been released on Cardano, with over 1,300 in development, according to EMURGO. The proliferation of open-source tools and programming languages designed to facilitate the development of smart contracts—such as Plutus, Marlowe, and the recently introduced Aiken—contributes to this expansion.

EMURGO further stated that Yoroi Wallet, the inaugural lightweight wallet within the Cardano ecosystem, is positioned to undergo additional improvements in 2024.

With over 38 integrations planned for 2023, Yoroi Wallet is dedicated to delivering a streamlined user experience on desktop and mobile devices.