2024-10-29 20:53 |
Unveiled during the Cardano Summit 2024 in Argentina, Midgard is designed by Anastasia Labs and is envisioned to eventually provide more scalability and efficiency for the Cardano ecosystem.
Philip DiSarro, the CEO and founder of Anastasia Labs, captivated attendees as he detailed how Midgard’s unique approach might set Cardano apart from Ethereum and other leading blockchains.
Expressing his enthusiasm for Midgard’s potential, DiSarro posted on X (formerly Twitter), “No blockchain has achieved true permissionless general-purpose rollups yet. The current top L2 solutions are essentially centralized through custodial multisigs.”
DiSarro pointed out that most existing Layer 2 solutions rely on centralized security protocols that limit their decentralization—a fundamental principle in blockchain’s original vision. Midgard, by contrast, stands out with its completely decentralized design, free of centralized sequencers or custodial control, making it a “first-of-its-kind” protocol in the crypto space.
Midgard Places Cardano Ahead of Ethereum, Solana, and SuiMidgard is built to leverage Cardano’s Layer 1 security in a way that few other blockchains can match. Unlike Ethereum’s L2 solutions like Arbitrum or Optimism, which rely on a combination of multisig wallets and custodial protocols, Midgard operates independently of such intermediaries. Its permissionless framework is based on a trustless operator set and fraud-proof technology, ensuring that all transactions and assets remain fully decentralized and secure.
DiSarro explained that Midgard is only possible due to Cardano’s Extended Unspent Transaction Output (EUTxO) architecture, which manages local state, transaction determinism, and small block sizes—all considered constraints by some but viewed as powerful tools by DiSarro. “These aren’t limitations,” he said. “They’re precisely what makes Midgard work in a way that simply wouldn’t be possible on Ethereum, Solana, or Sui.”
Excitement Builds Across the Cardano CommunityThe announcement of Midgard has created a buzz among Cardano’s users and developers. Danogo, who operates Cardano’s first decentralized exchange (DEX) for Optim Bond tokens, celebrated the milestone: “Only on Cardano can we have a new generation of rollups that are truly permissionless! There’s no multisig controlling the Layer 2 like on Ethereum, and even Vitalik (Buterin, Ethereum’s co-founder) recognizes this!” His enthusiasm reflects a broader sense that Midgard has the ability to uncover whole new opportunities in the blockchain realm.
Cardano’s founder, Charles Hoskinson, joined the conversation by sharing a meme on X, saying, “This guy gets it.” Hoskinson’s endorsement signals his support for Midgard’s decentralized approach, a concept he has long championed as the future of blockchain.
As Cardano prepares to launch Midgard in the coming months, anticipation is running high across the community. Additionally, there’s palpable excitement for what Midgard’s rollout might mean for Cardano, as it seeks to position itself as a serious competitor to Ethereum.
Technical Analysis Predicts Positive Movement for CardanoCardano (ADA) price chart. Source: Brave New Coin
A recent analysis on TradingView by pseudonymous crypto analyst Melika Trader presents a bullish outlook for Cardano (ADA), setting a long-term price target of $1.80. Melika’s forecast is grounded in technical chart patterns and key price indicators, offering insights into ADA’s potential movement in both the short and long term.
Source: Trading View
Melika highlights a key support zone for ADA between $0.30 and $0.35—a range that has consistently shown strong buying interest. This zone is reinforced by an engulfing candle pattern and historical supply and demand (S&D) levels, suggesting a solid base where Cardano has found repeated market support.
According to the analyst, ADA’s price action within this range signals the potential for a bullish reversal. “The price appears to be forming a bottom after engulfing the support region, indicating a potential shift toward bullish momentum,” Melika explains.
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