Charles Hoskinson, IOHK CEO, talked about the Cardano Improvement Proposals. These are network enhancements already planned to go live in 2022. Almost 22 proposals were drafted. One of these proposals is the information for assets issued on Cardano and a wallet to relate with the DeFi protocol.

Dubbed CIP 14, it aims to initiate human-readable information for assets. The Mary era of Cardano provides support for native assets. These assets are identified by their name and policy ID.

Cardano believes a human-readable asset identifier should be formed since assets are managed in various user-facing features on hardware and desktop applications. With this, users can now refer to it when discussing.

A Cardano dApp-Wallet Web Bridge, dubbed CIP 30, will be creating a webpage-based communication bridge that allows web pages to interface with Cardano wallets. NFT management is a use case.

Another is CIP 7, which aims to change the current reward calculation equation. In a whiteboard video on dApps and development, Charles Hoskinson revealed that the Cardano network intended to spend the next six to nine months on improving its decentralized applications ecosystem.

Read-only UTXO is one of the Cardano Improvement Proposals (CIPs) to be incorporated in June. Hoskinson also talked about the design considerations needed for designing Cardano’s extended UTXO (eUTXO) model.

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