Cardano (ADA) is backed by IOHK, a blockchain firm. Its CEO and co-founder, Charles Hoskinson, declared that his expectation is that Cardano is going to be faced with a hard fork, which should happen around the middle of February.
The news came through a January 17 livestream. It was then that Hoskinson talked about his expectations, with the cause of it being the fact that the consensus algorithm of Cardano needs to be upgraded. At the same time, OBFT (Ouroboros Bizantine Fault-Tolerant Consensus Protocol) should be implemented. Hoskinson declared:
“Looks like February – at pretty high certainty – we’re going to have the OBFT hard fork occur. We’re still talking to our exchange partners about that and we just want to make sure all the infrastructure is lined up for it, but infrastructure looks pretty good, so mid-February we anticipate an OBFT hard fork.”
There is still no word about the actual upgrades that are going to happen with the hard fork.
Another related piece of news that appeared with the livestream was that the Ledger wallet hardware integration with Cardano’s Daedalus wallet software is close to be deployed.
The Rapid Development Of Cardano
Cardano keeps developing at a rate that is much higher than most altcoins on the market. We now know that Emurgo, which is the commercial blockchain arm of Cardano, partnered with the Uzbekistan government in order to create a blockchain task force. Its purpose will be to create regulations for exchanges and security token offerings.
In the month of December, 2019, we saw the launch of a brand new Cardano test network. ADA holders actually staked over 5 million coins during that time. This showed a large holder participation in the activity of the network.