Cardano founder Charles Hoskinson delved into detail on the latest events surrounding the crypto industry and addressed concerns about the blockchain’s delayed updates.
Hoskinson who is also the co-founder of the engineering firm Input Output Global, Inc. has strongly defended the platform from critics.
He cited the layer 1 blockchain’s goal of being the perfect product-market fit, fantastic user experience, and a “softer” onboarding process as the reason for the need to develop Cardano.
According to Hoskinson, this will set it apart and make it special from its competitors, such as Ethereum.
The founder also addressed the regulatory issues, claiming that dealing with businesses and people rather than governments is more reasonable.
Next, he discussed the alliances and collaborations that Cardano has with initiatives around Africa, with a particular emphasis on Ghana, where he intends to extend its reach from East to West Africa.
He added that progress is being made in accordance with the plan, with roughly 85% of the original roadmap having been accomplished, and that the setbacks were caused by, “betting on the wrong technology and being a bit ambitious with the roadmap.“
For context, it should be noted that IO, the firm in charge of Cardano research and development, has received flak for moving too slowly. Also, the team’s emphasis on peer-reviewed research has drawn criticism from rivals.
But that has hardly affected the research firm’s morale as the layer-1 network is being prepared for a new era of decentralized governance that will allow it to become self-sustaining, according to developers. The last stage of IO’s Cardano plan is called The Age of Voltaire.
It also recently released a network upgrade that is touted to ramp up the development of cross-chain applications in a seamless manner.
Cardano Scaling Solution Hydra Inches Closer
The team is giving Hydra, Cardano’s Layer 2 scaling solution, the final touch in preparation for the mainnet release as it continues to receive new updates.
For those new, Hydra Head, the initial protocol in the Hydra family, lays the foundation for complex deployment scenarios. By offering low latency, high throughput, and cheap transaction costs, Hydra attempts to boost transaction speed.
Cardano’s Hoskinson has lauded the growth of the ecosystem. “The ecosystem continues to grow. Good work everyone,” he wrote in a tweet.
