Cardano continues to grow, and the same happens with the projects that are currently being developed around the blockchain network. Charles Hoskinson, Cardano’s founder, for example, has been explaining how the project is evolving year after year.
Cardano aims at becoming a go-to smart contracting platform and effectively compete against Ethereum. One of the most important developments on the network is the Rust Project. At the same time, Byron is the first version of the Cardano Settlement Layer (CSL) that has been written using Haskell programming language.
The Cardano Rust Project is a development kit to improve the network. The team says that it is a toolbox of Cardano’s cryptographic primitives for developers. The main intention behind it is to open the Cardano blockchain to other developers and host third-party developers. This would clearly allow the network to become more decentralized.
There are some different tools for developers, including the Cardano Package, the Cardano C-Package, the Cardano CLI, the Hermes Package, the Cardano Network protocol and the Cardano Storage Library.
The first one, the Cardano package offers a complete support for blockchain and wallets. At the same time, there are options for HD wallet maintenance and a build engine for transactions. The Cardano C-Package can be used for developers to export a simple API and use it a C-library.
In addition to it, the Cardano CLI has blockchain management functionalities that allow to download, verify, explore and analyze functions. With it, it is also possible for developers to manage multiple wallets.
Furthermore, the Hermes Package acts a bridge between HTTP Layer and Cardano Low-Level network. At the same time, it allows for fast blockchain synchronization. The Cardano Network Protocol makes it possible for fetching and sending to and from a remote node.
Finally, the Cardano Storage Library has two different levels of functionality. The Low-level specifically designed for append-only file capability and a high level where there is intertwining with the blockchain.
Blockchain networks have been working during this bear market in order to test new services and products and prepare themselves for the next bull run. Cryptocurrencies are expanding and in the future, they could play a very important role in the global economy. With Cardano developing these tools, it shows that there is an increased interest in decentralizing the network and offer better services and products.
At the moment of writing, ADA, Cardano’s cryptocurrency, is the 9th most valuable with a market capitalization of $2.1 dollars. Each token can be bought for $0.0810 dollars.