We've filtered through all the noise to distill crucial updates into a breezy, 5-minute read. No need for you to sift through endless info — we've got you covered. Ready to delve into this week's top Cardano news? Let’s dive in.
Here are the topics of the week:
Cardano Foundation Partners With University in Argentina on Educational Projects
RFLXT Announces Chronoshot, the First Game Launching on a Cardano-Built Platform
Unlocking Liquidity with NFTs: JPG Store Announces a Borrow-and-Lend Solution
The Voting Period for the Interim Constitutional Committee is Now Open
IOG Discusses the Design Rationale Behind Cardano
Weekly Development Report
& More!
This week on Cardano…
Cardano Foundation Partners With University in Argentina on Educational Projects
The Cardano Foundation announced this week a collaboration with the National Technical University (UTN) in Buenos Aires. This partnership focuses on educational projects to promote understanding and adoption of blockchain technology. Cardano and UTN will work together to develop blockchain education programs for UTN students. The ADA Labs for Blockchain Applications (ALBA), facilitated by ADA Solar, will also be involved in this initiative.
This UTN partnership adds to the Cardano Foundation's successful educational initiatives launched in 2023, including the Cardano Academy. The Cardano Academy is a comprehensive online program offering introductory blockchain education through four modules.
Today's announcement follows other educational partnerships established by the Cardano Foundation, such as those with Argentina's Entre Ríos province, Brazil's Petrobras, and the Dubai Blockchain Center.
This alliance exemplifies how Cardano actively works with various stakeholders across society to achieve widespread blockchain literacy, given that its core mission is to empower individuals through education. READ MORE
RFLXT Announces Chronoshot, the First Game Launching on a Cardano-Built Platform
RFLXT Studio launched Chronoshot this week, opening a registration period to become a Closed Beta tester for the game. By completing a series of questions, applicants get a chance to be selected for the first Closed Beta test. RFLXT is a platform on Cardano that leverages blockchain technology and artificial intelligence to enable creators to interact with their communities through gaming.
What is a Closed Beta Test?
The development cycle of software often involves a "closed beta test" phase. This stage occurs before a product's public release and involves a limited group of users.
A closed beta test entails a limited group of users, chosen strategically, to gather feedback on an upcoming product before its public release.
This feedback helps developers identify issues and refine the product, while users gain early access and a potential chance to influence development.
Closed Beta testers for Chronoshot will be rewarded with a unique NFT airdropped to their RFLXT accounts at a later date. This NFT grants them additional benefits within the game when it officially launches. READ MORE
Unlocking Liquidity with NFTs: JPG Store Announces a Borrow-and-Lend Solution
Owning NFTs doesn't have to mean they're illiquid assets. JPG Store introduces NFT-backed loans, allowing you to leverage your NFTs for financial gain. Borrow money using your NFT as collateral instead of selling it. This is ideal if you believe your NFT will appreciate in value or has sentimental value you'd rather not part with.
JPG Store uses a peer-to-peer lending model. Borrowers and lenders agree on loan terms such as amount, interest, duration, and collateral. Loaned ADA goes to the borrower, while the NFT is held securely in a smart contract escrow. Upon loan completion, the NFT returns to the borrower, or the lender acquires it in case of default.
Borrowers can access needed funds while also keeping their NFTs and can leverage borrowed funds for new opportunities. Lenders in turn can count on a passive income by earning interest on their loaned ADAs and engage in a low risk, but high return potential, like the acquisition of defaulted NFTs. READ MORE
The Voting Period for the Interim Constitutional Committee is Now Open
In December 2024, Cardano will take a pivotal step forward in establishing an effective and democratic governance framework: it will ratify a final and permanent Constitution. Since the introduction of the Cardano Improvement Proposal, or CIP-1694, Cardano initiated an interim period that establishes a set of rules that act as both off-chain safeguards and technical limitations to ensure Cardano's integrity and security during its upgrade to a new era of on-chain governance.
Before Cardano fully transitions to on-chain governance, an interim Constitutional Committee (CC) will be established to ensure a secure and smooth upgrade process. This document outlines safeguards to protect the network during the "Chang upgrade" and the following bootstrapping period.
The committee is made up of seven members serving one-year terms. Currently, IOG, the Cardano Foundation, EMURGO, and Intersect occupy seats, but there are still three seats remaining that are open to community members to apply. On Monday, the registration period closed, and the voting period takes place until June 23rd. On June 26th, the results will be confirmed. READ MORE
IOG Discusses the Design Rationale Behind Cardano
In a recent X thread, Input Output Global (IOG) broke down the core principles of the Cardano blockchain, highlighting three core pillars: security, scalability, and interoperability. It explains how Cardano positions itself as a third-generation blockchain, aiming to overcome limitations of previous generations, such as Bitcoin and Ethereum.
Set on addressing key user needs, Cardano's design prioritizes handling a growing number of transactions efficiently. This includes processing more data per transaction and managing bandwidth effectively. Techniques like data compression and scaling solutions like Hydra and Mithril are being implemented to achieve this. Similarly, Cardano strives to create a versatile environment for various operations. Users should be able to interact seamlessly with different blockchain systems. This includes supporting cross-chain transfers, multiple token types, and widely used smart contract languages.
As a proof-of-stake blockchain, Cardano emphasizes self-sustainability. The network is designed to enable ongoing development through community participation. Users can propose and implement improvements to the system via Cardano Improvement Proposal (CIP) 1694, which establishes on-chain governance mechanisms.
Cardano prioritizes rigorous development. It follows a pre-defined roadmap, leverages academic research, and utilizes formal methods to ensure a secure and reliable system. READ MORE
Weekly Development Report by IOG
Interesting Stories:
🎊 A Message from Lucas 🎊
We’ve done 26 editions of our Weekly Digest and we would love to hear your thoughts on what you like, what you don’t like, and any suggestions you may have for us. We are actively looking to upgrade the quality of our newsletter, and your feedback is vital in order to make that happen! Please take a moment to fill out this five-minute form with your thoughts.
–Lucas Macchiavelli