Cardano token standard much better than Ethereum’s ERC20

  • According to Charles Hoskinson, the release of the Cardano Shelley mainnet client is still on schedule.
  • For the virtual summit, Hoskinson has promised numerous “surprise” announcements.
  • Among other things, the multi-asset standard of Cardano is to be presented, which is supposed to be much better than the ERC standard of Ethereum.

In a new video, Charles Hoskinson, the inventor of Cardano, gave an update on Shelley and some other developments. As already explained yesterday by Christopher Greenwood, Head of Delivery at IOHK, Hoskinson confirmed that the rollout of Shelley is still on schedule, so that the SPO Public phase can start on June 9th.

Referring to the Friends & Family testnet, Hoskinson said that there are currently over 50 stake pool operators and over 80 registered stake pools. IOHK has created six sets of tasks that each operator has to complete, and virtually all of them have done so. According to Hoskinson, the tasks will be revised and published for educational purposes so that everyone can learn how to run a stake pool. In general, everything is going according to plan, Hoskinson said:

So we are still on schedule for public SPO. All the other development metrics are looking pretty good. A few annoying things here and there, to expected as we work our way through a systematically altered stuff.

But overall we are exactly we wanted to be and all indications point to good weather so hopefully June 30th, of course our alternative launch date is July 07th for the Shelley mainnet client, hard fork is still scheduled for July 29th.

Cardano’s Virtual Summit will have many “surprising” announcements

Hoskinson also announced that the website for the Virtual Summit, the event for the launch of Shelley, will go online next week. The agenda and speakers for the online conference in the first week of July will then be announced. As Hoskinson describes, there will be a lot of “cool” announcements during the Virtual Summit:

We obviously going to have a lot of cool stuff at the virtual summit that we have been working on for quite some time and it’s good to finally show everybody.

As Hoskinson explained, IOHK will work on the release of its multi-asset standard, which will be much better than the ERC standard from Ethereum. The focus will also be on Plutus, a strictly typed, purely functional programming language used in Cardano for programming Smart Contracts. Hoskinson announced details on this for the Virtual Summit:

Post Shelly it will be very fun to start racking on our multi asset standard. Many of you probably noticed the paper teased, it’s in draft form still but it is a paper how we handle fungible und non-fungible tokens as native level assets on our system, so it’s very different from the ERC20, it’s a much better standard and we are doing a lot of work on the Plutus side, how we want to handle spending policies and such things. That’s kind of the last mile for Plutus.

So we’ll have a lot to say about that at the virtual summit. We will have a lot to demonstrate […] and a lot of surprising announcements, I think we will make a lot of people very happy.

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