IOHK CEO and co-founder Charles Hoskinson anticipates a Cardano (ADA) hard fork around the middle of February. Hoskinson revealed the news during a livestream update on the project’s development on Jan 17, where he stated that Cardano’s consensus algorithm would be updated next month.
The new consensus algorithm, named ‘Ouroboros Byzantine Fault-Tolerant Consensus Protocol (OBFT), is expected to launch around mid-February and will bring significant changes to the cryptocurrency. As stated by Cardano’s CEO during the livestream:
“Looks like February — at pretty high certainty — we’re going to have the OBFT hard fork occur. We’re still talking to our exchange partners about that and we just want to make sure all the infrastructure is lined up for it, but infrastructure looks pretty good, so mid-February we anticipate an OBFT hard fork.”
Furthermore, he revealed that the Daedalus Cardano wallet software will soon be deployed and integrated into Ledger’s hardware wallet, which was anticipated by many ADA holders for months. Besides a hard fork and future Ledger wallet integration, the Cardano project recently revealed another significant update.
Cardano to assist in forming a new government blockchain task force
In a press release shared today it was revealed that Emurgo, the commercial blockchain arm of Cardano, partnered with the Uzbekistani government. The partnership involves the formation of a new blockchain task force group for the government, which will develop regulatory frameworks for security token offerings (STOs) and security token exchanges (STX).
Another significant development is the launch of Cardano’s test network named Shelley. After 24 hours, Cardano users managed to stake more than 5 billion ADA coins, worth around $195 million at the time of writing. The launch showed a considerable amount of network activity and interest for the project and as shown on Shelley’s roadmap, the test network is on its way to reach 1,000 staking pools.