Input Output announced Friday it will transfer control of Cardano's core blockchain infrastructure to outside specialist companies, starting in August and running through 2027. The handover covers the Haskell node, Plutus smart-contract platform, Daedalus wallet, and Hydra scaling technology. Founder Charles Hoskinson called it the final push of the Voltaire era, Cardano's governance and decentralization phase that began in 2024. The transition comes one day before the Van Rossem hard fork activates on July 18 at 21:44 UTC, upgrading Cardano to Protocol Version 11 and reducing smart contract execution costs. ADA traded at approximately $0.165 on Friday, up about 2%, with a $6 billion market capitalization.
Se7en Labs and Teragone Take Over Core Development
The firms taking over Cardano infrastructure include Se7en Labs, a development agency with a Solana infrastructure background, and Teragone, a cryptographic research team that already leads development of Mithril, Cardano's stake-based signature protocol. At least three independent node implementations in Haskell, Rust, and Go will run in parallel, overseen by community bodies Intersect and Pragma. The transition runs through 2027.
Input Output stated the new motto of the blockchain is "Built by many, owned by all." Hoskinson said in the IOGroup announcement, "Our partners are ready, and the ecosystem now has many diverse options." The company will shift focus to research and new ventures through IO Labs and IO Ventures.
Van Rossem Hard Fork Activates July 18 at 21:44 UTC
The Van Rossem hard fork goes live on mainnet July 18 at 21:44 UTC. Ratified on July 13 with 77.63% approval from delegated community representatives, the upgrade takes Cardano to Protocol Version 11 and introduces new Plutus built-in functions designed to cut smart contract execution costs.
ADA Trades at $0.165 with $193 Million Futures Open Interest
Cardano, which trades as ADA, is up about 2% on the day, trading near $0.165, at $6 billion market capitalization. Open interest in ADA futures sits around $193 million, with a long-to-short ratio of 2.84. ADA remains nearly 95% below its 2021 all-time high.
Technical indicators show the 50-week exponential moving average below the 200-week. The Relative Strength Index sits at 34. The Average Directional Index points at a strong bearish long-term trend. ADA has not come close to matching its 2024 highs near $1.20.
FAQ
What did Input Output announce about Cardano development on Friday?
Input Output announced Friday it will transfer control of Cardano's Haskell node, Plutus smart-contract platform, Daedalus wallet, and Hydra scaling technology to outside specialist companies starting in August, with the full transition running through 2027.
When does the Van Rossem hard fork activate on Cardano?
The Van Rossem hard fork activates on July 18 at 21:44 UTC, upgrading Cardano to Protocol Version 11 and introducing new Plutus built-in functions designed to reduce smart contract execution costs.
What is ADA's current price and market capitalization?
ADA traded at approximately $0.165 on Friday, up about 2%, with a market capitalization of $6 billion and open interest in ADA futures around $193 million.
