Hoskinson reveals new code for Cardano, but $63M TVL exposes a gap

Charles Hoskinson is developing a new programming language for Cardano as the blockchain approaches a pivotal test of commercial demand. The Cardano founder said he is working with developer Lucas Rosa, a software engineer at Input Output Global , on a language supporting intent-based transactions and proof-carrying data using Groth16 cryptographic proofs. The announcement follows Hoskinson's declaration that the forthcoming Leios scalability upgrade would complete his original vision for the blockchain, marking a potential turning point after years of technical development. The ambitions contrast with Cardano's economic footprint . Despite its ADA token commanding a market capitalization of about $8.3 billion, decentralized finance applications on the network hold just $63 million in assets, while daily trading volume remains below $1 million.

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