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May 16, 2024 by Mishal Ali
Rick McCracken, a Cardano influencer and SPO for the DIGI stake pool on the network shares his vision for the future of Cardano and blockchain technology in a recent X post (tweet). McCracken envisions a multi-chain ecosystem because no single blockchain can be efficient and meet all purposes. Drawing an analogy to mobile devices, McCracken noted the need for interoperability in blockchain.
The future of Cardano and blockchain is multi-chain. No one chain has the capacity to do it all.
For example: I can use an iPhone and access the same information on the web as an Android user. In crypto: that information on the web equivalent is money/liquidity… Cardano needs…
— Rick McCracken DIGI (@RichardMcCrackn) May 15, 2024
He said that just as users could access the same information on the web through different kinds of smartphones, similarly, blockchain networks need to interoperate with liquidity pools to offer a smooth user experience. He said that the most important development that Cardano had achieved in this Basho era was this enhancement for the goal that was achieved with the mention of features such as Plutus v3, zk tech, and sidechains.
Cardano SOP Raised Security Concerns in the Blockchain Space
McCracken also had some relevant questions regarding the security features of devices and web browsers that are used to access financial services. He warned against undermining security, given the practice of logging in to sensitive platforms from inadequately protected devices. This analogy underscores the importance of strong security measures in the blockchain space, especially regarding financial transactions and user data.
In addition, McCracken further drew the line on the variety of demands that every different blockchain application has. While gaming blockchains require high throughput, other chains whose focus lies on privacy or financial transactions require security above all. He pointed out the personalization that needs to be there for every application, as there was no better way to optimize performance and security within the blockchain ecosystem.
A key takeaway from McCracken’s insights is the imperative to make efficient bridges between the various blockchains such that they can easily switch between chains without running into walls such as slow or cumbersome bridges. It will, after all, be consistent with the more generalized vision of a fully decentralized, interconnected blockchain universe, giving its users fast, secure, and low-friction services
While he admitted that it would be an effort that took time and could not be done in a day, McCracken believed a multichain future would eventually be achieved. It will not be lost to the blockchain community that such remarks encompass every ongoing discussion about scalability, interoperability, and security in a dynamic blockchain technology space that has the potential to transform nearly every industry.
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