Input Output, the developer of the Cardano blockchain, announced that it will begin handing over control of the network’s core software components to independent and professional teams starting in August.
As part of a multi-year decentralization plan, the management of Cardano’s critical infrastructure components, including the Haskell node software, the Plutus smart contract platform, and the Daedalus wallet, will be gradually transferred to teams outside of Input Output.
The new structure plans for independent companies like Se7en Labs and Teragone to be responsible for specific parts of the core infrastructure. The goal is to actively support at least three different applications developed in Haskell, Rust, and Go programming languages for the Cardano network.
It was stated that these applications will be subject to community oversight, and that software development processes will be managed through formal technical specifications. These steps aim to reduce the network’s dependence on a single developer or organization.
The restructuring decision comes at a time when user and transaction activity on the Cardano network is weak and the ADA price has experienced a sharp decline. Cardano founder Charles Hoskinson describes both the restructuring and the disruptions in the ecosystem as necessary “growing pains” in the transition to full decentralization.
*This is not investment advice.