Hoskinson, despite the challenges, is optimistic about the future of cryptocurrency and attributed the delays to “betting on the wrong technology and being a bit ambitious with the roadmap.”
Charles Hoskinson, the co-founder of Ethereum and founder of Cardano, recently discussed the current state of the crypto industry and delved into the inner workings of Cardano in a podcast with Cointelegraph’s Hashing It Out.
Hoskinson began by explaining the need for Cardano’s creation, stating that although building a new network involves rebuilding the network effect, it allows for an unadulterated vision, which is necessary for what Cardano intends to achieve.
Hoskinson also acknowledged that Cardano has faced criticism for continued delays and network updates over the years. However, he attributes these setbacks to “betting on the wrong technology and being a bit ambitious with the roadmap.” Despite these challenges, Hoskinson remains optimistic about the future of crypto and anticipates a high rate of Cardano adoption in Africa this year.
Cardano’s founder also discussed the multichain nature of the industry, stating that everything is going multichain, even if it starts on Ethereum or Cardano. Hoskinson believes that to stand out among the various blockchains, one needs the right product-market fit, great user experience, and a “softer” onboarding process.
One area of particular interest for most followers of the Cardano project has been the partnerships and collaborations between Cardano and projects in Africa. Hoskinson elaborated that dealing with corruption and geopolitical tensions in some African countries has taught him that it is more reasonable to deal with companies and individuals rather than governments. He plans to expand Cardano’s reach on the continent from East Africa to West Africa, with Ghana as a prime focus.
Despite the setbacks and delays faced by Cardano, Hoskinson remains optimistic about the future of the network. He acknowledges that building a new network takes time, and even though Cardano has been in development for seven years, only about 85% of the initial roadmap has been completed. However, he also notes that Cardano has already seen significant wins, such as the growth of the NFT sector.