• Cardano ($ADA) has exceeded 20 million transactions, and Hoskinson has announced proxy keys

  • Cardano (ADA) reached another milestone earlier today, surpassing the 20 million transaction mark without experiencing a single day of downtime. At a time when major blockchain networks have been down on multiple occasions, the most recent example being Solana, which went down for nearly 24 hours, Cardano accomplished the rare feat despite being mocked for slow upgrade implementation. Cardano has been operational for 1522 days, with instant transactions and low transaction fees.

    Cardano co-founder Charles Hoskinson has stated in the past that they are not in a rush to implement upgrades at the expense of security and privacy. The long-awaited smart contracts feature was recently integrated with the Alonzo upgrade, ushering Cardano into the era of Defi and NFTs. Hoskinson, who frequently interacts with the community via his AMA session, discussed proxy keys, the ultimate security and privacy upgrade that could come to the Cardano network in the coming year.

    Hoskinson discussed three keychains that could play an important role in Cardano’s security and privacy in the near future. The three keychains, pending key, voting key, and staking key, would maintain a secure partition between the blockchain’s cold and hot infrastructure. The use of proxy keys in the infrastructure would separate some of the critical user information that hackers and scammers frequently target.

    Hoskinson stated that he was among the first in the industry to bring the concept of sidechains to ensure better security; however, implementation may occur later in 2022.

    “We were the first market to publish this model” (side chains). That’s why this model is so scalable: you can simply launch as many of these things as you want. It’s simply the system’s carrying capacity.”

    “It will have to come later down the road.” Because there’s so much to do, it’ll most likely be in the second half of 2022. But it’s definitely something for which we’re looking for a workable protocol.”

    In the run-up to the Alonzo hardfork, the price of $ADA reached a new all-time high of $3.10, but failed to recover after the upgrade. $ADA is currently trading at $1.81, up 1% in the last 24 hours, with $2.0 acting as a key resistance at the moment.

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