IOHK's Charles Hoskinson Says Cardano (ADA) Cryptocurrency Is Making Great Progress, Enjoys The Process

    Charles Hoskinson Says Cardano Is Making Progress

    And update on the progress of the Cardano platform has been given by Charles Hoskinson, the creator of Cardano as part of YouTube’s Cryptocurrency Virtual Summit. Hoskinson also gave a behind-the-scenes look at how the Cardano ecosystem functions and the work that its developers are putting in on the backend.

    The expose given by Hoskinson also tracks the progress that has been made on the Cardano platform since it first launched in 2017. One of the biggest sources of ideas for Hoskinson was working in the customer support section of Cardano and interacting with customers. This, he said, helped the team figure out how best to introduce their products to the world.

    “The big accomplishment is just learning how to have a cryptocurrency in the market, learning how to have a product that can evolve at a reasonable pace, and being able to actually execute on the science, because the science is so very complicated and it’s all new protocols. And being able to actually go from the lab to a specification to code, and have a reasonable vision of how we’re actually going to roll that code out and ship it to people and get it to work. I think that that’s what I’m most proud of,” he said.

    Take Away Lessons

    One thing that can be deduced from Hoskinson’s expose into the Cardano ecosystem is that creating and managing a complex blockchain ecosystem requires time and patience. Regardless of the resources at the team’s disposal when starting out, errors will inevitably be made and lessons will be learned.

    Another example of this is Ethereum, who have postponed their Constantinople hard fork after discovering some vulnerabilities in their system. Needless to say, good things take time.

    This is in stark contrast to the fast-paced demands of the modern world. Despite the fact that blockchains work with time, it has seen increased use and acceptance in the last decade, going from a little-known community on the internet to a technology that is being used by world powers for a variety of things.

    Just this week, JP Morgan, a giant of the financial world, announced that they would be releasing their venue of Cryptocurrency. This, if nothing else, is a sign of how far blockhain has come.

    Despite the current bear market, Hoskinson days Cardano is pushing forward.

    “It’s a hard process. It’s a brutal process. Doing it during crypto winter was especially hard because while we were making great progress and great achievements, the price keeps going down. So it demoralizes people and causes a lot of people to be very harsh, and just say things that aren’t true.”

    “But being able to overcome all of that and keep moving forward – and dealing with issues like the Cardano Foundation and having to go through a change of leadership – these were all things that we overcame. They prove that we’re resilient, and they prove that we know how to execute and that we’re going to be here for a long time. And that we’re going to be building for a long time.”

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    Tokoni Uti
    Tokoni Uti
    Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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