The inventor of Cardano identifies NFTs as the ‘most dynamic aspect’ of the ADA ecosystem


Notwithstanding the current volatility in the cryptocurrency market, Charles Hoskinson, the creator of Cardano (ADA), is optimistic owing to the development of his ecosystem, in which non-fungible tokens (NFTs) created on Cardano stand out the most.

Indeed, Hoskinson updated viewers on the development of the NFT-related portion of the Cardano network, emphasizing that NFTs were “the most dynamic aspect of Cardano” at the time, as he said in a March 6 podcast with Input Output Global (IOG) President Tamara Haasen.

According to Cardano’s creator, “NFTs in Cardano are now the most active portion of the Cardano ecosystem. It is the quickest moving, with 8 million assets issued. I believe that more than half of the projects are tied to NFT somehow, and it’s great to see that level of tenacity, perseverance, passion, and enthusiasm.”

Indeed, NFTs were among the Cardano projects with the highest engagement the previous week. The Satellite CNFT, The Piggy Banking Barn, and JPG Store joined the artificial intelligence (AI) marketplace SingularityNET (AGIX), the crypto wallet Eternl, and the decentralized exchange Minswap Labs.

In addition, Hoskinson provided an update on the upcoming developments in the NFT portion of the Cardano ecosystem, which include the implementation of Marlowe, a domain-specific language (DSL) for defining and executing financial contracts that is user-friendly and simple to understand.

As he said, the Cardano team was investigating Marlowe for NFTs “to see if we can make it a turnkey low-code, no-code solution to issue NFTs or at least write out the logic of how NFTs function,” since binding intellectual property and NFTs was “close to his heart.”

Additionally, he noted that the team working on Atala PRISM, an identity and credential solution based on the Cardano blockchain, was aiding this attempt and that “we’ve previously looked at putting identification with NFTs, so that was the verified NFT standard that the PRISM team has spoken about.”

The IOG team recently published a comprehensive list of the most recent Cardano platform development updates, including the completion of benchmarking runs and analyses for the new SECP primitives and the upcoming node v.1.35.6 release, the enhancement of the Plutus debugger, and the definition of the Marlowe Runtime scaling strategy.

Also Read: Leading Crypto Analyst Offers Ethereum Caution, Says ETH Price Action May Get Distressing

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