News - Cardano Foundation publishes activity report for 2023

By Mike Hesp

Cardano Foundation publishes activity report for 2023

With its annual report, the nonprofit organization behind Cardano provides in-depth insight into all developments in the field of adoption.

The Cardano Foundation today released its second annual report for the past year. The "Activity Report 2023" offers a detailed look at the nonprofit's three main areas of focus: the operational resilience of the Cardano blockchain, the education of potential users and stakeholders, and the overall adoption of Cardano.

As Cardano Foundation CEO Frederik Gregaard explained in a statement, the report is "an opportunity to take stock of the scope and scale of the year's progress." Given the Foundation's relatively modest size, the team has done an "excellent job."

Cardano scores with decentralization

The efforts seem to be paying off. Cardano has operated continuously for more than 2,000 days, as the Foundation highlights in the report. The reason for the achievements is probably not least the decentralized nature of the Cardano network. In January 2023, when a bug caused more than 50 percent of the nodes to fail, the remaining operators were able to keep the blockchain running. An excellent example of network resilience, as founder Charles Hoskinson later emphasized.

This decentralization is also reflected in the report's figures. According to the report, the average health of block production was 97 percent. The blockchain is also based on more than 3,100 staking pools. Through active monitoring, the company was also able to recognize anomalies in the staking pools at an early stage and act accordingly.

On the resilience front, the Cardano Foundation seems to have achieved its goals over the past year. In the current era of Cardano's roadmap, called Voltaire, the decentralized management of the ecosystem must be pushed forward. The Foundation was actively involved in this through an accompanying Cardano Improvement Proposal (CIP).

Strong partnerships for adoption

Cardano is also characterized by a number of partnerships with companies in the "real world" that contribute to the growth of the ecosystem. In this regard, the report highlights the partnership with Brazilian state energy company Petrobras over the past year. However, the Foundation has also contributed to social sustainability. For example, reference is made to a partnership with Switzerland for the United Nations High Commissioner for Refugees (UNHCR), to which the Foundation donated ADA 5.2 million to support displaced persons.

The Cardano Foundation repeatedly highlights its own efforts to develop the open source infrastructure. Cardano developers are among the most active in the crypto sector. Last year, the number of full-time and total Cardano developers fell by four and 17 percent, respectively, according to a report by Electric Capital. However, a number of "new initiatives" could further drive blockchain adoption by 2023, the annual report said. These include the launch of a new Cardano Explorer, an identity wallet and a new open source programming language, Aiken.

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