IOHK, the firm behind Cardano, has recently unveiled its plans for 2022. It’s looking like 2022 will be one of Cardano’s biggest years in history thanks to a range of improvements and optimizations.
With KICK.IO being based on the Cardano blockchain, these are some pretty exciting developments for the KICK family. We’re going to take a look at some of the major changes that are slated to occur in 2022 and what they could possibly mean for KICK.
- Could Cardano overtake Ethereum? Read our thoughts here.
The Basho Era
Cardano’s development roadmap has been split into eras, and we’ve written pretty extensively about the five Cardano eras in other posts. In 2022, we’re now entering the Basho era, which is based on further optimizing and scaling the blockchain.
Improving capacity to ensure that the blockchain’s number of users can grow dramatically is one of the main goals of this era. The expected users range from traditional DeFi users to people in developing countries.
Of course, to accomplish all of this, Cardano needs some optimizations under the hood, and IOHK is going to incorporate both on-chain and off-chain solutions.
On-Chain Developments
Increase in Block Size
IOHK recently increased the block size from 8KB to 72KB. This will increase the number of transactions that can be carried. Throughout the year, IOHK will examine how well the network handles the increased transaction volume before implementing additional block size increases.
Pipelining
Pipelining allows IOHK to get better block propagation times by combining propagation and validation processes into one. By the end of the year, IOHK hopes to have blocks propagated to 95% of peers in just five seconds. The end goal is that this allows for more aggressive scaling.
Input Endorsers
By separating transactions into premade blocks, it’s easier to improve throughput and block propagation times. This ensures that propagation times are more consistent and that transactions can be undertaken at a higher rate.
Memory Improvements in Plutus
The main changes in this area are due to enhancements in UTXO handling, hash representation, live stake pools and distribution, as well as traditional stake distribution. All of this ensures that memory usage is a lot more efficient.
Script Enhancements in Plutus
Using the EUTXO model, it will be a lot easier to optimize smart contracts. Here are some examples:
- CIP-0031 (Reference inputs) — These scripts make it easier to inspect transaction inputs because they don’t need to be spent. This cuts down on the number of UTXOs that need to be made.
- CIP-0032 (Plutus datums) — Datums no longer need to be attached to datum hashes, and are attachable to outputs directly instead.
- CIP-0033 (Script sharing) — This script enhancement allows developers to reuse scripts across several transactions, cutting down on the size of each transaction and enhancing throughput while also diminishing the cost of script execution.
Enhancements to Nodes
To make it easier to incorporate future block size increases, the cross-epoch distribution of stake and reward computations will be improved. This also means that memory will be used more efficiently so that peak load can be reduced.
On-disk Storage
More of the protocol state will be stored on the disk, meaning that the nodes will have to do less work. This makes it easier for systems that are struggling with RAM as long as they have enough storage, getting rid of bottlenecks.
Off-chain Developments
Sidechain Development
These separate chains are bridged with the main blockchain, allowing transactions that take place on one chain to be brought over to the other. Keep in mind that main blockchain isn’t necessarily limited to a single sidechain.
Hydra
Hydra will allow transactions to be more efficiently processed because it will add isomorphic state channels that will allow for lower latency, lower costs, and reduced storage needs.
Off-chain Computing
By doing some of the work off of the chain as when using ACE (Asynchronous Contract Execution), it’s possible to make the network more efficient overall.
Mithril
Mithril allows for chains to be better synchronized and offers multi-signature aggregation that is designed to remain as secure as it is efficient.
What Does this Mean for KICK?
All of these exciting developments for Cardano will also benefit KICK, given that we are based on the Cardano chain. As the chain grows, so will the number of potential users who will be able to use the KICK launchpad as an investment platform.
We’re excited to see what 2022 has in store for both Cardano and KICK. Based on this roadmap, it’s going to be one of the most exciting years that we’ve seen yet.
