Charles Hoskinson Calls Cardano A Multi-Ledger System, Capacity to Support Many Crypto Assets

The creator of Cardano, Charles Hoskinson, recently conducted an AMA on his YouTube Channel which has over 12,000 subscribers. The Live Stream, which he did from an airport’s Wifi was viewed by about 9,000 people and was overwhelmingly well-received. In the AMA he touched upon a variety of topics including calling Cardano a multi-asset ledger.

Cardano combines privacy and regulation. Additionally, Cardano ADA stands out due to its transparency, because every month, it goes through a third-party audit. The platform also boasts a thoroughly scientific approach. One of the main advantages of Cardano ADA is Proof-of-stake (PoS). It offers higher speed and lower transaction costs. This provides a new rewards system for preventing attacks that include selfish mining.

The development of a multi-currency ledger to enables both the Cardano Coin and currencies issued by other platforms to have equal status. It provides both with protection from hacks and vulnerabilities, validation of payments and an important level of efficiency. With the benefits of smart contracts, every asset that exits on the settlement layer can be converted with ease to provide users new functions.

An asset can also be converted back. The Multi-Currency Ledger enables the use of different cryptos within Cardano without applying smart contracts.

Hoskinson said:

“And, we think we have a great strategy for handling that, I’ve partnered with somebody personally who’s in the ICO market to see what we can do about bringing STOs to our platform as well or at least ensuring inter-operability standards. So, we will be a multi-asset ledger.”

He even addressed the issue with EOS calling it a centralized product. Hoskinson fails to see the difference between EOS and a company like Amazon.

“Expect for being much more expensive, unpredictable pricing and lower quality of service and also when things go wrong, and have no recovery mode outside of begging a committee of people to save you. This is not innovation, this is just application old concepts and then bolting on poorly conceived governance system and cutting a lot of poor facilities.”

When asked about the update of the roadmap of his project, Charles assured that it will be announced during the IOHK summit being held between April 17-18, 2019 in Miami.

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