Charles Hoskinson, the founder of Cardano has made several future prospects of cryptocurrency at the ICO Summit in Switzerland that was held last week. Hoskinson gave a brief idea that his cryptocurrency plans may evolve over the coming year, with a focus on improving the mistakes as well as emphasizing strengths. Specifically, the founder of Cardano visualizes the success of ADA being tied to the same problem plaguing the majority of the cryptomarket: scalability.
Also Read: Cardano (ADA) All Set To Revolutionize The Crypto Field
Hoskinson outlined three goals that Cardano has established for itself in 2018:
Cardano has been built from the ground zero while emphasizing the culture of the scientific method and careful implementation. As Hoskinson puts it, Cardano needs to ensure, “the scientific claims made by them are actually right.” Cardano is taking a long position on the industry, rather than putting out a quick pump and dump ICO scheme. If they can produce the most convincing technology, backed by practical use and features, they hope the industry and market will recognize their achievement with investment dollars.
The attention to every detail in the scientific design and research, Hoskinson and co-founder Jeremy Wood talk about the cryptocurrencies in the market about their standards: “none of them have met [our] standards in the past 9 years.”
This may sound like an ambitious approach from the founder, however, it can not be ignored that it also shows the growing frustration both within and outside the industry of cryptocurrency.
Scalability, the most important goal for Cardano this year. In 2018 and the years that lie ahead, the focus is going to shift to scalable currencies. Bitcoin may still be the industry leader in terms of brand recognition and market cap valuation. However, the original cryptocurrency is tormented by severe limitations in its ability to handle large network volume.
Hoskinson, has apparently recognized the greatest obstacle for Cardano in mass adoption, which is scaling. It is now going to be the primary goal for ADA going forward. Hoskinson foresees the future of cryptocurrency being a race to produce usable, real-world implemented currencies that can scale with the market.
He considers Ripple as a model leader for the industry, “…the key factors are scalability, interoperability, and sustainability. Ripple operation is a great example of interoperability with 130 bank partners and the inter ledger projects”
Hoskinson and the Cardano team have made an ambitious and interesting strategy to put away the cryptocurrency hurdle of scalability. That being said, every major project takes time and further proof of function by the developers of ADA before investors can be fully convinced of the cryptocurrency’s potential. However, it’s a positive sign for those interested in the currency that the two founders are committed to growing the scalability of the currency.
Also Read: “../cardano-versus-ripple-ethereum/” style=”color: #0c71c3;”>Cardano (ADA) Poses As A Threat To Ripple (XRP) And Ethereum (ETH)
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