Saturday, January 22, 2022

Charles Hoskinson Explains Why He’s Pleased with Cardano’s Progress to Date

Charles Hoskinson, the CEO of Input Output Global (IOG), has showcased is contentment with the progress of Cardano development so far.

In a conversation with Dan Gambardello, founder of Crypto Capital Venture, a recruiting firm for fast growth crypto startups, Hoskinson said people are too focused on the micro picture.

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He said people chose to ignore the achievements recorded so far by Cardano and failed to consider many challenges along the way.

Hoskinson’s words can be attributed to the community pressure over lethargic progress in the offering of decentralized applications on the Cardano blockchain. Many expect Cardano to have made a lot of breakthroughs after four months of Alonzo mainnet launch.

Charles Hoskinson Is Pleased with Cardano Progress to Date

According to Hoskinson, though it may be ignored by critics, Cardano has made significant progress from inception to date. He said it came from nowhere to join the top 10 cryptocurrencies, stating that it has also become a significant force in setting the research standard for proof-of-stake (PoS) consensus algorithm.

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Cardano creator said over 100 exchanges, two million users, 130 decentralized applications (DApps), and two million assets issued on the blockchain are signs of notable progress. He, however, said despite all these achievements recorded so far, people still get caught on the narrow.

Hoskinson also spoke about decisions that were made along the way in a bid to justify the delay that is deterring Cardano from buzzing as expected by the community.

Hoskinson noted:

“We had to rewrite the software three times, there were major changes in architecture and vendors. There were approaches taken that didn’t work out, there were of course delays.”

Read Also: Cardano Advancement: IOG Is Building Light Wallet for Browsers and Mobile Phones with In-Built Dapp Store

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Comparing the current situation with Ethereum, Hoskinson said the co-founder of Ethereum, Vitalik Buterin initially set 2018 for the official launch of ETH 2.0, but his current estimate now points at 2025, which he said doesn’t invalidate the blockchain’s past achievements.

“Does that mean everything Ethereum has done and achieved is bad? No, it’s just the nature of the game and there are things you learn along the way.”


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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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