Cardano

Revolution

Cardano (ADA) has reached a significant milestone after getting a Plutus script to validate CIP25 metadata.
<h2 id="strong-cardano-brings-revolution-to-nfts-strong">Cardano Brings Revolution to NFTs</h2>
Sebastien Guillemot, the co-founder of Paima Studios, announced the Cardano milestone on X earlier today.
He stated that there is now a Cardano Plutus script to validate CIP25 metadata. This is a big deal for the Cardano ecosystem as it brings several benefits. This move introduces more use cases to the Cardano network featuring a mix of Non-fungible token (NFT) and Automated Market Makers (AMMs). This particular feature is a huge pivot considering that Ethereum Virtual Machines (EVMs) can not easily achieve NFT AMMs.
<blockquote class="twitter-tweet">
 We managed to get a Cardano Plutus script to validate CIP25 metadata <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Big implications, and enables many new use-cases: ・NFT AMMs (not easily doable in EVM!) ・New interop standards ・Onchain games
 and we just open-sourced it<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"> How did we achieve this? ↓<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="noopener noreferrer nofollow" href="https://t.co/KUikGQtWzX">pic.twitter.com/KUikGQtWzX</a>
 — Sebastien Guillemot (@SebastienGllmt) <a rel="noopener noreferrer nofollow" href="https://twitter.com/SebastienGllmt/status/1809526008082764129?ref_src=twsrc%5Etfw">July 6, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Additionally, the validation of CIP25 metadata promotes new interoperability standards and more on-chain games. More exciting is the fact that it was open-sourced, making it very easy for developers to leverage the perks that comes with it.
Ordinarily, most NFTs on the Cardano blockchain follow the CIP25 standards. Notably, the CIP25 shows how NFT information should be defined in transaction metadata. These information could include name, images, URL and other details. Overtime, there was a challenge involving the accessibility of transaction metadata from Plutus.
As a result of this setback, many Decentralized Applications (DApps) could not make reference to the data. This was quite limiting for use cases like gaming.
Cardano’s goal is to have NFTs that can evolve dynamically based on user actions and can be traded with good liquidity via AMMs. Much more, the plan is to achieve all this in a decentralized manner with no contribution from a centralized server. This desire gave rise to the validation of the CIP25 metadata with Cardano Plutus script.
<h2 id="strong-cardano-registers-more-upgrades-strong">Cardano Registers More Upgrades</h2>
Amongst its other recent major achievements, <a href="https://coingape.com/cardano-ada-goes-interchain-with-ibc-sidechain/" target="_blank" rel="noopener noreferrer nofollow">Cardano integrated Inter-Blockchain Communication Protocol</a> (IBC) Sidechain capabilities into its network last week.
This move came following challenges related to scalability, data privacy, and interoperability. Markedly, the IBC solution improves what blockchains are capable of achieving. It makes the transfer of data and assets between different blockchains achievable. Also, it ensures that they are still able to benefit from the security and deterministic fees that the Cardano blockchain offers.
This is in addition to the <a href="https://coingape.com/cardano-chang-hard-fork-completion-june-says-founder-charles-hoskinson/" target="_blank" rel="noopener noreferrer nofollow">Chang Hard Fork&nbsp;</a>and the recent Electra upgrade that took place on Cardano.
Read More: <a href="https://coingape.com/justin-sun-confirms-tron-is-building-gas-free-stablecoin-solution/" target="_blank" rel="noopener noreferrer nofollow">Justin Sun Confirms Development Of Gas-Free Stablecoin Solution</a>
The post <a href="https://coingape.com/cardano-hit-key-milestone-with-cip25-metadata-heres-what-it-means/" rel="noopener noreferrer nofollow">Cardano Hit Key Milestone With CIP25 Metadata, Here’s What It Means</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Cardano Hit Key Milestone With CIP25 Metadata, Here’s What It Means

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