Cardano is a great blockchain technology with ground-breaking use cases. This is why Cardano’s chief has suggested some amendments to its privacy and security to ensure the network adapts to the recent rise in hacks, competitors, etc.

The founding member of Cardano, Charles Hoskinson, has expressed his opinion as regards privacy and security. He plans to introduce proxy keys, and the integration of three keychains: staking key, spending key, and voting key. He said:

“The primary would be the spending, and the secondary would be staking and voting keys. Either directly delegate with them or create a new key chain, that’s just a staking key and a voting key. And we call those proxy keys. The idea is that you would sign a transaction that would enable those keys to act on behalf of the original keychain.”

The proxy keys could stay on a hot wallet like Daedalus, while the primary keychain could be on a hardware wallet or paper wallet. A snark could enable the link between the main keychain and the proxy keys.

You can identify the proxy keys for the main chain, and one could see in the other direction. The wallet would display preferences, but contrariwise, it is confidential. However, the roadmap has some obstacles. Hoskinson noted that there are regulatory questions that aim to bloat the system. Irrespective of this, he is optimistic about this approach.

Compared to other tokens, Cardano achieved a great feat regardless of developments. Cardano’s first sidechain, Milkomeda (M1), was led by dcSpark. The bridge network links the Ethereum network with Cardano. This allowed the porting of Cardano assets to the Ethereum ecosystem. Hoskinson said:

“It was the point of the original architecture of Cardano. Other networks such as Polkadot and parachains have chased it later”.

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