Emurgo CEO Announces Strategic Investments to Address Key Gaps in Cardano Ecosystem

Decentralized identities and layer-2 solutions are areas that the Emurgo team is focusing on to address the gaps in Cardano, according to Ken Kodama, the founder and CEO of Emurgo. In an interview with Cointelegraph Magazine, Kodama discussed their shift towards a venture studio model to fill the 21 categories that they believe are lacking in Cardano compared to other leading blockchains.

“To fill those 21 categories, either we build them ourselves or we invest,” said Kodama. He mentioned that they organize hackathons and provide grants as incentives for Cardano builders to fill the gaps. The goal is to transition into a venture studio model, focusing on building and investing in these categories.

Although Kodama did not specify all 21 categories, he highlighted two areas of focus: decentralized identity (DID) for enterprise adoption and layer-2 sidechains. He emphasized the importance of decentralized identity in blockchain protocols, stating that there is a need to develop more DID applications on Cardano.

Additionally, Kodama acknowledged the need to incorporate layer-2 solutions into Cardano. He mentioned the existence of a vibrant layer-2 ecosystem in other blockchains that is currently missing in Cardano. Emurgo will be working to improve this aspect of the ecosystem.

In addition to decentralized identities and layer-2 solutions, Emurgo is also exploring zero-knowledge rollups and optimistic rollups. Kodama stated that they are looking to invest in these technologies and have already conducted a hackathon centered around them.

Developers’ experience is another critical area that they identified as a pressing issue hindering adoption. To build on Cardano, developers need to understand programming languages Haskell and Plutus. However, Kodama recognized that the number of developers familiar with these languages is limited. To address this, they are supporting Aiken, a toolkit and a new programming language for developing smart contracts on the Cardano blockchain.

“Aiken and other programming language applicability are quite important to broaden the amount of builders able to build on top of Cardano,” said Kodama. They have been educating builders to code in Haskell and Plutus, but they believe that more options are necessary to attract a larger developer community.

In summary, Emurgo is determined to fill the gaps in Cardano by focusing on decentralized identities, layer-2 solutions, zero-knowledge rollups, and optimistic rollups. They also recognize the need to improve developers’ experience by supporting alternative programming languages like Aiken.

❗Follow us on Twitter to get all the latest crypto news as soon as they're out! 🚀

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

View J-S Tremblay website

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top