A notable departure from the Cardano project has occurred as Vladimir Kalnitsky, a key developer behind the cardano-transaction-lib (CTL), has announced he is stepping away.
This exit raises further alarms about Cardano’s ability to draw and retain skilled professionals in the rapidly changing blockchain sector.
Kalnitsky, who has gained significant insights while working within Cardano’s PureScript ecosystem, mentioned a waning enthusiasm for functional programming languages, particularly Haskell, which plays a crucial role in Cardano’s architecture. This sentiment reflects broader frustrations within the developer community.
Haskell, while technically advanced, has a reputation for its steep learning curve, which may deter new developers from engaging with the platform.
Concerns about ADA’s appeal are echoed by many in the industry. The complexity of Haskell and its limited usage beyond specialized fields contribute to the challenges faced. Blockchain developer Hinson Wong noted that the ecosystem surrounding Haskell and Cardano’s unique UTXO model makes wider adoption difficult.
In comparison, the Ethereum Virtual Machine (EVM) benefits from a larger community and a more substantial market presence, making development seem less costly, particularly for DeFi projects.
With the ongoing departures of essential developers and high development costs, the prospects for Cardano, especially in the DeFi arena, remain precarious.
United Arab Emirates authorities have formally denied reports linking Toncoin (TON) ownership or staking to long-term visa eligibility, calling the circulating claims inaccurate and misleading.
Changpeng Zhao, the former head of Binance, has hinted at the possibility of a new initiative that would allow BNB token holders to obtain long-term residency in the United Arab Emirates through a token-staking model.
The first week of July brought notable advancements in crypto infrastructure, governance, and trading.
Europe’s reluctance to embrace stablecoins and blockchain technology could erode its monetary sovereignty and marginalize the euro in the next phase of global finance, according to former European Central Bank board member Lorenzo Bini Smaghi.