Cardano’s Charles Hoskinson Weighs In on Recent ADA Coin Ecosystem Disruption and Future
Cardano’s Founder Charles Hoskinson Talks About Recent Ecosystem Disruption And Future
The CEO and founder of IOHK, Charles Hoskinson, has recently talked about the split between IOHK and the Cardano Foundation and the future of the token during an interview with The Crypto Lark. During the interview, he affirmed that Cardano was supposed to be supported by three pillars, IOHK, Cardano Foundation and Emurgo.
Tension appeared sometime between the parties, though, so the company was actually led to part ways. The Foundation would handle community management, outreach, regulatory outreach, lobby and some more things like being a source of information about Cardano. However, problems led the foundation to be set apart from the rest of the ecosystem.
The problems would be mainly that the Cardano Foundation was not able to do what was expected of it and the executive level of the company was weakened over the course of its existence. The dysfunction caused disappointment and frustration and led to the point in which the ecosystem is now.
Another issue cited by Hoskinson is that the Cardano Foundation denied its duty when it backed out from a trip to Ethiopia to sign the first Memorandum of Understanding of Cardano, which was important for the company.
Hoskinson also affirms that the Foundation started to use the Cardano trademark in a not very ethical way that was very counterproductive for the system. After the trip to Ethiopia, the Foundation sent an email to the IOHK affirming that they did not know what they were doing there despite the fact that they were informed. This was what ultimately made the two institutions part ways.
The Future Of Cardano
Charles Hoskinson also announced several projects. He affirmed that he currently is in Toronto in a cryptography conference and that the team is about to present Ouroboros Genesis, a new sharding solution for Cardano. He also talked about the Rust project and affirmed that the company is hyped to create many new programs and solutions for the ecosystem.
Also, the founder of Cardano stated that the 1.3.1 update of Cardano will be coming soon and that the 1.4 update is ahead of schedule, so while it may take a longer time to be released, it will probably still be out sooner than they expected.