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Cardano crypto coin in purple

Charles Hoskinson: Cardano (ADA) Is In Good Shape And Moving Fast

ยท in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

In a recent surprise AMA, Charles Hoskinson, the co-founder of Cardano and CEO of IOHK, said that Cardano (ADA) is in good shape and moving fast.

He has also defended the project from those spreading FUD in the market. The AMA comes after 10 days of releasing the official Shelley testnet. 

Charles Hoskinson Talks About Cardano’s Project

The Shelley testnet was released a few days ago, allowing users to test how the Cardano network behaves in a real-world environment. 

As Hoskinson explained, it is possible to decentralize a crypto project immediately after releasing it or create a sandbox that gradually decentralizes the whole network. With Shelley, Cardano decided to follow the latter because they considered it “makes more sense.”

One of the advantages of this decision is that in case there is a bug or a problem on the testnet, it is possible for the team behind Cardano to solve that issue as fast as possible without having to hard fork the whole network. 

At the same time, this system is egalitarian because it allows enthusiasts and the general public to start working on it, plan their business models and build a brand, among other things. 

In addition to it, he mentioned that they are getting overwhelming participation with the network testnet. 

About the growth the network experienced Mr. Hoskinson commented:

“We have almost 100 stake pools running, we have tons of issues that have been reported […] we are learning a lot, the community is learning, there are 2400 people on the stake pool channel […] so Cardano is looking good.”

He went on saying that releases are coming, that the project is going well, that they are not missing deadlines and that they are one of the projects with the largest numbers of commits in Github. 

Furthermore, he commented that they have been working on Cardano since 2015 and that they have been doing real work to improve the whole network. Moreover, Hoskinson said that it is important to do things in a systematic process and safely. 

Hoskinson stated that is insulting to see how many crypto enthusiasts attack the project when there are over 200 individuals working on IOHK every single day to further develop Cardano. Finally, he said that he is proud to see how the project is growing after releasing Shelley. 

ADA is currently the 11th largest digital asset in the market with a market capitalization of $1.01 billion and a price per coin of $0.0389. 

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