A new internal IOG Developer Experience department will improve development agility
Starting with our internal processes, we are committed to building better solutions and the optimization of the Cardano development experience
13 January 2022 4 mins read
Designed for global reach and enhanced functionality, Cardano is now moving from its core capabilities to a living and breathing smart contract platform. Gradual optimization and scientifically verified system improvements lead the way for Cardano's growth and maturity.
‘Move fast and break things’ isn’t the way Cardano is built. Working at the forefront of technology, and with our research agenda at the core, we use formal methods, such as mathematical specifications, property-based tests, and proofs to deliver high assurance software systems and give confidence to users for the management of digital funds.
While we chose the Haskell programming language as the basis to achieve strong guarantees on the functional correctness of core system components, there is no single language or tool that helps us deliver a rock-solid blockchain platform.
With so many possibilities of different programming scenarios, our goal is to ensure that both internal developers and the wider developer ecosystem have a coherent and consistent experience while building on Cardano. So, while working with different programming languages and development tools in the infrastructure, we’re also pushing this development to the limits. This means enhancing coding principles and expanding the capabilities of various systems and methodologies.
Any effort to grant wider functionality and use needs to start with internal processes. So, to provide a flexible and consistent environment for everyone building and deploying on Cardano, we have now created a new internal structure that improves the agility of development.
Developer experience department
To establish an environment, where developers at IOG are not hindered by the tools they use in their day-to-day work, we have created a new Developer Experience department (DevX), led by Moritz Angermann.
Moritz Angermann explains:
Think of DevX as an internal technical support center for IO developers. It primarily focuses on providing assistance and tooling to different teams assisting with their Continuous Integration (CI) and ‘Build’ needs and ensuring that setup procedures don’t affect timely deliveries.
The department involves cooperation with all engineering teams and is also responsible for amplifying synergies between teams and streamlining development processes. Another focus of DevX is improving the Haskell tooling as a natural continuation of the ‘tools’ team that is now part of DevX.
While Cardano is a multi-functional smart contract development platform, it is still early days and the ledger and network is being gradually upgraded as we go. Cardano is designed to serve millions of users everywhere and thus we’re adapting it to be flexible upon increasing demand. This means that along with the network growth, we are tuning protocol parameters to adjust to extending scalability and throughput properties.
The DevX department is creating tooling that will enable continuous ledger upgrades and optimizations. This tooling addresses developers’ needs and allows for better utilization of various building libraries. Streamlining the Haskell development experience includes:
- substantial improvement of cross-compilation capabilities
- enhanced plugin support
- work on interoperability with the Rust programming language and other languages
As Cardano continues to evolve as a fully open infrastructure model during 2022, we hope in due course these improvements will provide the broader developer community with better tooling for working on different projects and deploying them on Cardano.
DevX contributions are included across multiple Input Output repositories, and you can check out Haskell Nix development progress in this repository or learn more about the Glasgow Haskell Compiler development by going to gitlab.haskell.org.
With the Cardano ecosystem set to grow exponentially in 2022, now is the time to get to grips with some of the prime principles – and jargon – behind DeFi
10 January 2022 11 mins read
The number of ada users and software developers building on the Cardano blockchain continues to grow. With projects now in final testing and starting to deploy, sites like Cardano Cube, Built on Cardano, Building On Cardano, and Essential Cardano are busy mapping an exciting ecosystem. Cardano has been created as a secure, robust platform to build blockchain-based products, services, and systems. With a clear roadmap to steadily develop, we now see it scaling to serve on a global scale.
DeFi – decentralized finance – has exploded in recent years, opening up a host of new financial instruments – from the useful to the crazily speculative. Ultimately as this market matures, the goal of DeFi is to help individuals and companies engage in financial activity without going through a central, expensive middleman such as a bank, or to attain higher returns on their assets in an era of inflation and negative interest rates.
Cardano has expanded on this idea. The aim is to bring inexpensive banking and insurance services to the millions of people worldwide who cannot access such products. This would help break down the barriers between developed and developing nations. We call this vision ‘RealFi’.
Despite this surge for Cardano, overall blockchain understanding and adoption levels are still low. Not least, because of the mountain of jargon every crypto-curious person needs to grapple with. So, in anticipation of the next wave of fresh interest in Cardano – and particularly to welcome new readers to this blog – we thought the beginning could be a great place to start!
So we’ll try to unpack the complexity of some notions that we so often read about with blockchain. Terms like DeFi, RealFi, DApp, DEX, liquidity, and so on go hand-in-hand with the latest blockchain products. Let’s take a look at what these terms mean, and let’s start with the basic building blocks.
Where does DeFi start?
It all starts with a blockchain. So, simply put, a blockchain is a digital ‘book’ of records – what accountants would call a ledger – about transactions. What’s unusual about this book is that it is not controlled by a single person, company, or government official. Instead, entries are made in a decentralized way. By decentralized, we mean that thousands of people’s computers communicate with each other to agree on whether a transaction is valid. They reach this consensus based on the rules built into the blockchain software they are running. Blockchain records cannot be altered and can be examined by everyone – making it impossible to delete the record about a transaction, forge its amount, or hide any details. This feature guarantees transparency and trust between the users. Interestingly, although the blockchain shows such information, users are ‘presented’ as addresses. So, although anyone can see what transactions were made to and from an address since the blockchain started, no one can identify the person at the blockchain address.
The advantages of decentralized systems are summarized in Figure 1.
But how do we use blockchain in daily life, and why does it matter? The answer is that blockchain is about trading or exchanging funds under specified conditions, for a potentially infinite number of applications. Companies in healthcare, art, retail, collecting, beverage, sportswear and gaming already use blockchain technology.
Figure 1. Decentralized v traditional finance
What is decentralized finance?
Decentralized finance or DeFi is a blockchain-based form of finance that addresses the same needs as traditional finance. You can send and receive payments, pay for products or services, or invest in cryptocurrency projects instead of bonds or stocks. However, DeFi does not depend on any intermediary and uses smart contracts to settle deals fairly. By adding an identity component such as Atala Prism – and thus a ‘bridge’ to the real world – you have what we call RealFi.
In a traditional setting, we use money to pay for products and services. This medium of exchange is usually represented as coins or banknotes issued by central banks. Crypto users have popularized the use of the term fiat to describe real-world money. The US dollar, British pound, and Japanese yen are all fiat money. The word has been used since governments stopped having to back their currency with gold. Instead, they issue a formal decree – a fiat – that their currency is legal tender.
On the blockchain, people use crypto assets instead of fiat. Let’s take a look at the different types (Figure 2).
Figure 2. Types of cryptocurrency assets
How it works
Before we dive into the peculiarities of DeFi terminology, let’s first see what makes it all work. So, the driving force of security and fair agreements lies in smart contracts. Let’s say you download a DeFi app and you’d like to lend Alice 10 ada. We need to be assured that Alice will pay it back, and we’d also like to earn some interest if she pays back later than agreed. Traditionally, users sign agreements and specify such conditions. That’s also done on the blockchain, but in the form of smart contracts.
- Smart contract: an automated digital agreement, written in code, that tracks, verifies, and executes the binding parts of a deal between various parties. The contract stages are automatically executed by the smart contract code when predetermined conditions are met.
An interesting fact is that smart contracts don’t find specific data themselves. For example, we agree with Alice that she pays back by say, January 20. For a smart contract to execute, it needs to know the date, whether Alice processed a transaction and whether the sent amount matches the indicated amount. For this, smart contracts use oracles.
- Oracle: a way to communicate with real-world data. Oracles connect with trusted external data sources that enable smart contracts to execute by referencing datasets such as exact timing, the weather, election results, sports statistics, and cryptocurrency prices. Oracles ensure confidence in timely, accurate, and untampered data.
With Cardano, users can work with Plutus or Marlowe contracts:
- Plutus: a set of programming tools for writing smart contracts on Cardano. Deployed since September on Cardano, it includes Plutus Core – the software that runs Plutus transactions and contracts – and the Plutus programming language, which is based on Haskell, a language designed for writing extremely reliable programs. There is also the Plutus Playground – a place where developers can test their code before using it on the main chain.
- Marlowe: Marlowe is a language designed specially for writing financial smart contracts. It is limited to financial applications and is for experts in finance rather than in programming. There is also the Marlowe Playground, where users can create, edit, simulate, and analyze Marlowe contracts in a web browser. Marlowe will be deployed to Cardano later this year.
Users access various DeFi platforms and applications for different purposes. For instance, asset management products (or simply, wallets) store, send and receive cryptocurrencies between users. There are many decentralized applications (DApps):
- DApp: a digital application that runs on the blockchain. There are various types of DApps, such as DeFi products, NFT markets, wallets, exchanges, games and more.
Now that the Cardano ecosystem is growing fast, more and more DeFi products are coming to Cardano. Users will soon be able to use new DApps and platforms for their financial needs. Thus, to ensure that users and the developer community can offer and consume products of the best quality, we are working on:
- The dAppStore: a user-friendly marketplace for all Cardano DApps. It is also a place where users with limited blockchain knowledge will be able to explore ways that the technology can be useful to them.
- DApp certification: certification and assurance help ensure that products meet certain quality checks. While voluntary (Cardano is, after all, open and decentralized) Certification benefits both developers and users because it includes security checks that help with auditing smart contracts. There are three levels of certification, each of which complementary to the others.
DeFi platforms and DApps mainly deal with financial activities. Besides sending and receiving funds, these can be used for investing, lending, and borrowing.
As a matter of fact, users can borrow cryptocurrency on the blockchain without paying interest:
- Flash loan: works as an instant loan that doesn't require collateral (funds needed to secure a loan of other cryptocurrencies or tokens) or know-your-customer (KYC) verification. However, the flash loan requires repayment within the same block it is lent to the borrower. If the loan isn’t paid back, the initial transaction is rejected, and the issuer retains their funds.
Let’s take a look at a few more of the most common terms you’ll come across in DeFi:
- Exchange: a cryptocurrency marketplace where users can buy or sell cryptocurrencies. There are two types of exchanges. A CEX (centralized exchange) is maintained by a specific entity or structure, which is subject to regulations or rules. A DEX (decentralized exchange) is a type of crypto exchange with no intermediary, and users can buy and sell their assets in a secure, peer-to-peer way.
Liquidity is another term that you’ll commonly hear. It measures the circulating supply and trading activity in a certain DEX, CEX, or another network. Circulating supply is essential to meet the trading needs of users. For example, Alice wants to sell some bitcoins she owns and instead buy some ada, and let’s say, some tokens needed for her new shopping app. While bitcoin trading is very popular, she won’t have any difficulties. She’ll probably buy ada as well if the chosen exchange supports it. But what if there are none of the tokens she’s looking for? Or, say, she wants to get 100 tokens for her app, and there are only 30? This is what liquidity is about – having enough supply of coins or tokens to satisfy users’ requirements.
Liquidity includes relevant activities and notions that go hand in hand with them:
- Liquidity mining: the process of creating or adding new coins or tokens to support the demand for transactions. Liquidity miners (providers) usually get rewards that incentivize them to support the user base and grow liquidity pools. Liquidity mining is also known as yield farming.
- Liquidity pools: a pool of deposited cryptocurrencies that provides liquidity to the network, where the currencies are in demand.
- AMM (automated market maker): a pool of cryptocurrencies that provides liquidity between ‘trading pairs’. A trading pair is a match between Alice, who wants to sell her bitcoin, and Bob, who wants to buy it, for example. AMMs are decentralized and depend on the liquidity provided by their users.
Decentralized exchanges aren’t only convenient marketplaces for cryptocurrency trading. They also serve as tools for earning profit. So let’s discuss some relevant terms:
- ROI (return on investment): the profit or loss on an investment, often expressed as a percentage.
- Yield farming: as mentioned above, this is also known as liquidity mining. Because rewards are gained for providing funds, such a process is called farming.
- Yield: rewards earned for cryptocurrency staking or liquidity mining.
- Leverage: the act of using borrowed capital, expecting profits to be greater than the paid interest.
Please note that we’re not giving any financial advice. This post explains some of the DeFi terms for informative purposes only.
And while we’re discussing some ‘earning profit’ terms, let’s also recall how ada holders can securely benefit and get rewards from their ada:
- Staking and delegating on Cardano: every ada holder owns a stake that is based on the amount of ada they have. A developer or a tech-savvy person can set up a stake pool and run it to help verify Cardano transactions, getting rewards for this. Everyone can delegate their funds to a stake pool to earn a share of these rewards. There is no risk to this and no ada leaves your wallet. Ada can be delegated from your wallet or spent at any time.
While these are exciting times, we continue to stress the importance of doing your own research and approaching new products with caution. Follow our blog and Twitter for new announcements not to miss a thing. And throughout this year, we’ll have plenty more content coming your way to help you navigate this growing ecosystem.
Introducing our new peer-to-peer (P2P) testnet
We are working with a small group of stake pool operators on a new P2P testnet to further drive network decentralization
8 December 2021 3 mins read
Cardano continues to build momentum with more features and capabilities being steadily added to the blockchain. As we recently reported, we are optimizing the network to increase throughput so more transactions can be processed faster, and decentralized applications (DApps) and smart contracts created and used more efficiently. This week, we have kicked off an important new initiative to support our ongoing drive toward full decentralization with the launch of a new peer-to-peer (P2P) testnet.
Cardano ensures trust and security in a decentralized setting using proof-of-stake consensus through the Ouroboros algorithm. At the heart of this are about 3,000 stake pools run by operators (SPOs) who manage the distributed nodes that power the network. Clearly, in a decentralized and distributed network, there has to be reliable communication between these nodes. Central to this and vital for verifying blockchain activities is data diffusion – the process of sharing information about transactions and block distribution. This also enables the Ouroboros algorithm to make its ‘decisions’.
Until recently, Cardano nodes established connections with peers by looking up a file that described the static configuration of the network. The system also relied on nodes set up by IOG – with a community-managed and configured topology – that helped to establish network connectivity (read more about the evolution of network connectivity here). To increase decentralization and simplify node communications, we've been establishing a P2P network. Direct interaction between peers streamlines communication between the thousands of distributed nodes that will maintain the network without reliance on federated relays. This will be done by automated P2P networking components. Automating the process of peer selection brings us closer to a fully decentralized network and simplifies the process of running a relay or a block-producing node.
From the early days of the Shelley incentivized testnet through to the Alonzo testnets program, community-supported rollouts have been central to our approach. To expand testing of the P2P changes, we are now inviting some pool operators to a semi-public testnet. Eleven operators will help us test the automated P2P components before we expand the program more widely.
P2P is still an experimental feature. Although it will be part of future releases, we’re not yet integrating it into all our work. The pool operators will assess the environment by configuring their nodes for direct interaction with each other. P2P capabilities will be included in the cardano-node master branch and in merged pull requests to ‘ouroboros-network’ on GitHub.
The P2P mode will enable ‘churn’ to ensure dynamic promotion and demotion of peers. Updating network configuration will also be simpler for SPOs because their nodes do not have to be restarted.
The semi-public testnet will also improve the node’s Prometheus interface. It will include the following statistics:
- outbound connections: warm (active connections that don’t participate in the consensus) and hot (active connections that take part in the consensus)
- inbound connections: warm and hot
- uni-direction/duplex connections.
The assessment of network connections on the semi-public testnet will help us to gather valuable feedback and catch unknown issues. Once we are satisfied, we will then be ready to invite all SPOs to test P2P node communications on the public testnet. This will mark the implementation of a smart policy for peer selection. This policy will allow defining final metrics to compare with the previous, non-P2P setting. Most importantly, we’ll continue testing to verify that all the components work flawlessly in isolation as well as in combination in a wide range of network conditions.
Follow our weekly development updates to find out more about P2P network development and also check out the Ouroboros network repository for the latest updates.
The AGIX ERC20 converter testnet is now live
A public testnet is available for you to try out the migration of AGIX tokens to the Cardano ecosystem
7 December 2021 6 mins read
In our previous blog post earlier this summer, we shared how Cardano would support the migration of ERC20 tokens from Ethereum, working initially with SingularityNET and their AGIX token. Today we can announce that the AGIX ERC20 converter testnet is live and ready for community evaluation.
SingularityNET is our first partner in this initiative. And the converter is a significant step in our shared journey towards a much deeper collaboration with the SingularityNET community.
Dr. Ben Goertzel, CEO and Chief Scientist at SingularityNET says:
I'm extremely excited by the emergence of the AGIX-ADA/AGIX-ETH converter onto Cardano testnet, and soon after that onto mainnet. Every revolution is carried out one step at a time, and this is the first in a series of steps whose result will be the porting of the full SingularityNET decentralized AI platform onto Cardano. The importance of this port for SingularityNET and the whole blockchain and AI ecosystems cannot be overestimated – it will yield not only a far faster and more economical AI network, but also a massively superior foundation for adding advanced new functions to SingularityNET and moving toward realizing our vision of decentralized AGI.
In this initial testnet version, users can move SingularityNET’s AGIX tokens to Cardano and back to Ethereum via the permissioned bridge. This marks a significant step forward in driving interoperability between blockchains to establish a functional environment for decentralized finance (DeFi). Users can assess the capabilities of the testnet and pilot the transfer of AGIX tokens to benefit from Cardano’s higher transaction capacity, lower fees, and proven security benefits.
Blockchain bridges power interoperability
Blockchain interoperability is key to boosting adoption and growth for the entire space. Alongside our open-source approach, this has always been one of our priorities – to make blockchain solutions accessible for everyone, regardless of the chosen protocol. However, speed of transaction processing, security properties, and scalability are critical to satisfying the needs of the crypto community.
We are currently building out and collaborating on multiple bridges to connect Cardano to other blockchains, and this first converter is a vital artery in this system. The more these connections grow, the higher the network effect to boost the flow of liquidity within the Cardano ecosystem.
So, let’s take a closer look at how exactly the AGIX ERC20 converter tool works.
Working with the converter
The converter enables the migration of AGIX ERC20-based tokens from the source network to Cardano. Users can access the converter via a URL and move their tokens in just a few clicks. The converter ‘translates’ an ERC20 token into a native token on Cardano with the same value and functionality, which can be moved into Daedalus or Yoroi wallets to make payments or other transactions. The built-in conversion system allows the tokens to be converted back into ERC20 format, if desired.
Users do not need technical expertise or coding experience to use the converter. They simply access the tool through a URL and then proceed by creating a new account or configuring an existing Metamask account.
It is essential to configure the associated Cardano address, which corresponds to either a testnet Daedalus or Yoroi Nightly wallet to store the migrated tokens. After initial setup, users are welcome to use some testnet AGIX and Ethereum Kovan test network (KETH) tokens to start testing the tool.
The converter reflects the token balance and its equivalent value in US dollars on the token card on a dashboard:
Figure 1. ERC20 converter dashboard
To migrate testnet tokens to Cardano, users need to select the token card, choose the amount, and click the Convert button:
Figure 2. The process of token migration from Ethereum to Cardano
The user will be notified once the transaction is processed both on the Cardano and Ethereum Kovan testnets, and the balance will update accordingly.
For the reverse process, the user needs to click the conversion arrow to point to the target blockchain. The system will notify the user about smart contract execution, and the steps to follow.
The converter provides a user-friendly interface that features tips, notifications, and additional information to guide users throughout their token migration journey. For example, the testnet version of the converter utilizes the Kovan test network. If a user is in a different environment, the system will notify the user to change networks. The same applies to the Cardano address setup, sending values that exceed the actual balance, and so on.
Finally, all the activity can be tracked on both blockchain explorers:
- Kovan Etherscan and
- Cardano testnet explorer
It is also possible to check recent transactions in the converter’s Transaction history section:
Figure 3. ERC20 converter transaction history
Our commercial team is now running the process to allow for secure and seamless token migration from other blockchains and sidechains to Cardano. Projects who want to initiate a dialog can get in touch here. We will continue pursuing Cardano’s interoperability mission across a range of permissioned and permissionless, producing a mesh of interconnected sidechains with decentralized applications (DApps) written in Solidity, Glow, and more. This will expand the base ecosystem of DApps written in Plutus on Cardano.
Following our philosophy where security comes first, we are treating the converter deployment with the highest scrutiny to always secure the funds of individuals. That is why we are inviting the community to put it through its paces on the testnet while the code is constantly monitored and audited to ensure that everything is working properly. While the user flow and UI for the testnet converter will likely be very similar on mainnet, the current build is not yet optimized for performance. The testnet phase is an essential part of this process, gathering user data – particularly at times of high network saturation – will help us address this and improve throughput as we get closer to the mainnet launch.
Ready to try out the AGIX converter? First, make sure to visit the dedicated testnet page with step-by-step instructions. And if you’re ready to get started, then go to the ERC20 converter – the testnet is now live and waiting for you to try it out!
UTXO blockchains continue forward momentum with new collaborations
Alephium and DigiByte latest to join the alliance fostering innovative UTXO-based solutions
9 November 2021 5 mins read
In our previous blog post, we announced the collaboration between Ergo, Nervos, Topl, and Komodo – companies forming the UTXO alliance to jointly enhance interoperability, scalability, and programmability features of the UTXO-based blockchains. Today, we are delighted to announce that Alephium and DigiByte are also joining the alliance to pioneer improvements of the UTXO accounting model.
We live in an age of rapid change and technological advancements where blockchain is the technology that streamlines transparency, trust, and enhanced security. The UTXO alliance has been created to encourage those at the forefront of this technology to engage in shared efforts and initiatives. Together we can drive further development of critical infrastructure needed to foster broader adoption of blockchain.
The strength of the UTXO model
The advancement of the UTXO accounting model is the core focus of the alliance. UTXO-based blockchains are superior to account-based models as they ensure:
- Enhanced security: the same address is not used every time a transaction is made, which makes it impossible to track the address or find out the overall balance. UTXOs are also more beneficial in terms of privacy leaks resolution.
- Scalability: UTXO ledgers allow for parallel transaction processing eliminating network congestion and are more suitable for stateless client solutions.
- Interoperability: due to the implementation of off-chain and sidechain protocols, it is easier to establish interoperability between different blockchains.
- Determinism: on the UTXO ledger, a user can predict the cost and validity of a transaction before it is processed on the chain. Transaction costs are also much lower in the UTXO model as there are no ‘gas’ fees.
Investigating UTXO properties and contributing open-source research allows us to enhance the properties of different blockchain systems, while also fostering interoperability between ledgers. Together, we are investigating scalability solutions that will allow solving instrumental questions around how to efficiently transfer data between different blockchain environments (including the amount of data used, processing speed, transaction costs, and energy usage). We’re also working on programmability, focusing on the design of new programming languages that will grant diversity in building smart contracts and DApps on UTXO-based blockchains.
Alephium is the first operational sharded blockchain bringing scalability, ETH-inspired smart contracts, and DApp capabilities to Bitcoin's proven core technologies while ensuring better performance and improved energy efficiency. From its technical design to its interfaces, Alephium has been created to address the challenges of accessibility, scalability, and security encountered by decentralized applications today. The immutability of the UTXO model has been the cornerstone for Alephium to tackle the scalability issue of blockchain. More specifically, Alephium proposes a stateful UTXO model which offers both layer-1 scalability and the same level of programmability as the account model. Alephium also introduces a dedicated virtual machine (VM) based on the UTXO model to address DeFi’s security issues and execution bottleneck.
Cheng Wang, Alephium founder & core developer says:
The increasingly high demand for scalable and secure DApps, and more specifically DeFi, is a great opportunity for UTXO blockchains. UTXO-based designs will be the new paradigm for DeFi development. The alliance will play a key role in driving its mass adoption.
DigiByte is an innovative, open-source, UTXO-based blockchain that is driven by the community. It provides forward-thinking solutions to ensure greater decentralization, security, speed, and scalability. Due to its secure cryptographic algorithms and enhanced speed, users can efficiently create digital assets, smart contracts, and DApps on the chain. One of the largest challenges DigiByte, and other UTXO projects, have struggled with is developer engagement. The barrier to entry for developers to build solutions on top of UTXO blockchains is high and requires a tremendous amount of domain knowledge and experience. DigiByte core protocol maintainers and contributors have been working on lowering that barrier to entry by building an approachable and easy-to-use developer toolchain & development sandbox.
GTO90, core protocol contributor & maintainer of DigiByte says:
DigiByte took UTXO to maximum performance through fast block times, real time difficulty adjustment, and multi algo mining. This improved upon the UTXO model and decentralization. Over the past several years, a number of DigiByte's innovations have been contributed to a variety of open-source UTXO blockchain projects. We look forward to working with the UTXO alliance to further innovation around and adoption of the UTXO model.
Romain Pellerin, IOHK CTO adds:
We are thrilled to see another two blockchain ecosystems joining us and the UTXO alliance, which brings us to seven founding members already. DigiByte and Alephium bring both experienced and novel lines of thinking to the alliance. This ensures diversity in the way we identify and attempt to solve common challenges. It will help each member to consolidate their state of the art and design new solutions to the latest challenges, as well as enable synergies towards more scalable, programmable, and interoperable blockchain networks.
We continue growing our collaborations to investigate different approaches to the enhancement of the UTXO model. Joining forces for the common goal strengthens our initiative while contributing to open-source research.
Input Output chose the UTXO model for Cardano because of its superior deterministic design, scalability features, and proven security. UTXO alliance members include some of the best and brightest blockchain minds in the space, committed to collaboration and growing and advancing the standard. If you’re developing UTXO-based blockchain tools and techniques and are committed to furthering this transformative technology, we invite you to join us. For more details, visit the UTXO alliance website.