Charles Hoskinson, the founder of Cardano (ADA), made a surprise Ask-Me-Anything (AMA) a few days ago in Longmont, Colorado. The intention behind this AMA was to explain to the community how the team behind Cardano is working on different projects. One of the most important things he said is related to the network testnet launch in the middle of September.
Charles Hoskinson Updates The Community
According to Hoskinson, the rust client testnet and the networking testnet have been operating stably after being released to the community. At the same time, they have been working in order to fix hundreds of bugs that were found during the last few weeks. The goal is to move towards a distributed and incentivized testnet with the launch of Shelley.
Regarding this new update, Hoskinson informed that they are going to be releasing the new Shelley update as soon as next month, on September 15. This is very positive for the community that has been waiting for this update for a long time. He said that they have been working on staking, incentivization and self node testing as well.
It is also worth mentioning that September will also be a very important month for other developments. As he explained, they are expecting the completion of Ouroboros Hydra, which is the final advancement in the research of the Ouroboros protocol.
The Cardano Foundation Team explained about it:
“This is important because it is the realization of all previous research around creating a workable proof-of-stake platform. It also allows sharding as well as global scaling. The completion of Ouroboros stands to be a major step forward in solving the proof-of-stake problem in computer science.”
In addition to it, Charles Hoskinson has also answered several questions made by the community. For example, he said that Algorand is a good team with great people. Moreover, he considers that there is going to be more competition in the space, which is something positive, not only for Cardano but also for other projects in the market.
Comparing Algorand and Cardano, he said that IOHK is at least two years ahead of Algorand due to starting sooner and having a more holistic view of what the crypto space requires. He took into account interoperability, treasury and also the voting system implemented.
According to CoinMarketCap, Cardano (ADA) surged almost 4% in the last 24 hours and it is the 12th largest digital asset in the market. It also has a valuation of $1.17 billion and a price per coin of $0.045247.