The cryptocurrency market has been through some turbulence in recent weeks, with prices of various cryptocurrencies dropping significantly. However, despite these fluctuations, the founder of Cardano (ADA), Charles Hoskinson, remains optimistic about the future of his ecosystem, particularly in the area of non-fungible tokens (NFTs).
In a recent podcast with Tamara Haasen, President of Input Output Global (IOG), Hoskinson discussed the progress of NFTs on the Cardano network, noting that they are currently the most vibrant part of the ecosystem.
He revealed that more than 8 million NFTs have been issued on Cardano, with over half of the projects on the platform related to NFTs in some way.
Hoskinson went on to describe the passion and excitement that he has seen in the NFT community on Cardano, praising the level of durability and resilience that it has demonstrated. This is particularly impressive given the volatility of the cryptocurrency market as a whole.
One of the key updates that Hoskinson shared was the Cardano team’s plans to implement the Marlowe domain-specific language (DSL) for writing and executing financial contracts. This will enable NFTs to be issued and programmed more easily, potentially making them a turnkey low-code, no-code solution.
Hoskinson also revealed that the team working on Atala PRISM, an identity and credential solution on the Cardano blockchain, is assisting with this endeavor.
The IOG team has also been working on other developmental updates for the Cardano platform. These include finalizing benchmarking runs and analyses for new SECP primitives, enhancing the Plutus debugger, and defining the Marlowe Runtime scaling strategy. With these updates, Cardano is poised to remain at the forefront of the NFT market.