Hoskinson Says This is Very Big For Cardano: Details

Cardano founder Charles Hoskinson highlights a major milestone for the blockchain, one that could transform the network into the financial backbone of the agent economy.

Earlier today, Patrick Tobler, developer of Mansumi Network, announced the minting of the first x402-standard proof-of-concept (PoC) meme coin on Cardano.

For context, a certain company originally developed x402, a protocol inspired by the HTTP 402 status code. Notably, the protocol has already been integrated into Google’s Agent-Payment Protocol (AP2).

x402 Protocol Goes Live on Cardano

Since the introduction of the x402 protocol, developers at the Masumi Network have been working diligently to integrate it into both Cardano and Masumi.

In a social media post today, Tobler announced a breakthrough toward this goal with the successful completion of the first x402 proof-of-concept meme coin on Cardano. He warned that the meme coin was for demo purposes, noting that there are no plans for its mainnet launch.

How to Use the Protocol

Meanwhile, he walked users through the steps of utilizing the protocol to access resources or APIs. According to Tobler, when attempting to access the demo resource x402-demo.masumi.network, the site returns a “402: Payment Required” message.

Afterward, users can then connect their wallets to make a small payment of 2 USDM. Notably, users also require a small amount of ADA to pay transaction fees. Once confirmed, users will gain access to the resources — in this case, minting a demo meme coin.

Although the mem coin has no current or future value, the demo highlights the practical application of x402 on Cardano and the protocol’s ability to streamlining blockchain-based payments through web protocols.

Cardano Founder Reacts

The development has sparked excitement among Cardano supporters. In particular, Charles Hoskinson, the founder of Cardano, described the initiative as a “very big” development for the blockchain.

As Tobler mentioned, the integration could position Cardano as the financial backbone of the agent economy. Since x402 is a novel niche, the integration positions Cardano at the forefront of the agent economy, where AI agents will autonomously transact and exchange value.

In the meantime, Tobler revealed that he and other developers are currently drafting the x402 standard for both Cardano and Masumi, aiming to make their implementation of the protocol the most advanced and powerful version available.