IOG, the company behind Cardano, wants to secure $13.4 million to fund a year-long research program. They say this is crucial for Cardano to stay competitive in the long run.
The Funding Request
The proposal, called “Cardano Vision – Work Program 2025,” aims to fund 56 full-time researchers and their work. This includes research into key areas like:
- Ouroboros: Cardano’s consensus mechanism.
- Tokenomics: How Cardano’s tokens work.
- Hydra: A scaling solution for Cardano.
- Interchains: Connecting Cardano to other blockchains.
- Leios, Minotaur, Jolteon Liveness, RSnarks: Various technological improvements.
The total cost is about 26.8 million ADA (Cardano’s cryptocurrency), which translates to roughly $13.4 million based on the current ADA price. This covers salaries, equipment, and other expenses.
The Vision: A Five-Year Plan
This funding is part of a larger five-year research plan focusing on areas like:
- Next-Gen Consensus: Improving how Cardano processes transactions.
- Tokenomics: Further refining how Cardano’s tokens function.
- Decentralized Identity: Improving user privacy and security.
- Governance Overhaul: Making Cardano’s governance system better.
- Hydra Scaling: Expanding Hydra’s capabilities.
- Interchain Research: Exploring connections with other blockchains.
The research will involve a large team, including researchers from over 14 universities. They aim to publish at least 20 peer-reviewed papers each year.
Why is this needed?
IOG argues that continued investment in research is essential for Cardano’s long-term success. They highlight the need to stay ahead of the curve with technologies like quantum-resistant cryptography and advanced smart contracts. Without this investment, they say Cardano risks falling behind competitors.
The Proposal’s Progress
The proposal has already gone through a lengthy review process. Currently, a significant portion of Cardano’s delegated representatives are signaling their support. The final decision on funding is still pending.