Technology

Potential 2024 Collaboration on the Horizon – Crypto News

Published

2 years ago

December 27, 2023

Dripp

Sebastien Guillemot, co-founder of DcSpark and Paima Studios, recently spoke about a potential collaboration in 2024. Guillemot, a software engineer and a Cardano community member, noted in a post on X, “Expect more projects that combine Arbitrum with @cardano and @MinaProtocol in 2024.”

Guillemot sees value in uniting these platforms, particularly during Ethereum’s market struggles.

Cardano’s current limitation

While the community expressed enthusiasm for projects in the pipeline, Guillemot acknowledged that Cardano’s current infrastructure limits its ability to validate zero-knowledge proofs until the next hardfork.

Also Read: Cardano Founder to Critics, “We are Winning,” Just like Bitcoin

Meanwhile, in a recent blog post shared by Guillemot, Paima Studios notes its ambition to elevate decentralized gaming to rival web2. Paima Engine, developed by Paima Studios, designs blockchain games. After focusing on Ethereum-based platforms, Guillemot underlined that Paima is now almost finished integrating with Cardano.

The blog post also highlights overcoming the limitations of current layer-1 blockchains that dominate 80% of the crypto market’s liquidity but fall short in scaling to support mass multiplayer online games (MMOs).

Guillemot’s solution involves leveraging Zero Knowledge (ZK) cryptography to enhance scalability. This approach could address the issue of data storage limitations on layer-1 blockchains, a critical step toward achieving the scalability necessary for the widespread adoption of decentralized gaming.

Cardano, Arbitrum and Mina gain

As the community anticipates the realization of these innovative concepts in MMOs, Cardano (ADA) has seen notable growth of over 120% in the last year. Despite this positive trend, data from CoinGecko reveals that Cardano is still 80% below its record peak, reached in September 2021.

Meanwhile, Arbitrum (ARB) and Mina Protocol (MINA) have also shown significant activity. Arbitrum’s price stands close to $1.3 at press time, having reached an all-time high of $8.67 nine months ago. Meanwhile, Mina’s recent price is close to $1.17, a 200% rise from its all-time low seen in October 2023.

That said, the Mina Foundation, responsible for the MINA protocol, underwent a significant change in leadership just last week. Evan Shapiro, co-founder of the protocol and its previous CEO, announced the transition, appointing Kurt Hemecker, the former Chief Operating Officer, as the new CEO.

Also Read: Mina Foundation Reshuffles Board Ahead of zkApps Upgrade
Also Read: Arbitrum DAO’s Staking Proposal Ignites ARB Price Surge