Charles Hoskinson believes Cardano is making progress despite the challenges with blockchains with proof-of-stake mechanisms. According to the famous CEO, the progress of altcoin has increased the level of interest and demand in the crypto ecosystem. Hoskinson explained that he is pleased with the progress of the Cardano network.
Cardano reaches milestones, sets a standard for proof-of-stake
Cardano is currently traded on more than 100 exchanges, blockchain with proof-of-stake mechanism has come a long way and is home to 130 decentralized applications on its platform. While Cardano has reached milestones in several key developments, Charles Hoskinson shared his comments on the altcoin’s progress.
Hoskinson said he is pleased with the progress the Cardano network has made. The CEO of Input Output Hong Kong (IOHK), the company behind Cardano, drew attention to Cardano’s development. Hoskinson was quoted as saying:
“We had to rewrite the software three times, with major changes in structure and providers. There were approaches that didn’t work, of course there were delays.”
According to Hoskinson, who compared Cardano to the Ethereum network, Cardano became the network that set the standard among Proof-of-stake blockchains. The Cardano founder explained how Ethereum delayed the launch of ETH2 in 2018, and the update is still in development.
“Does this mean that everything Ethereum has done and accomplished is bad? No, it’s just the nature of the game and you’ve got things to learn along the way.”
The Ethereum network is currently on a journey from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) mechanism.
Finally, analyst @Pentosh1 believes that Cardano price is preparing for a breakout in the next few weeks. The altcoin has been in a downtrend continuously for a week.
$ADA touched the level today. Prepping for its break imo within weeks https://t.co/CcJ7IqESrP
— Pentoshi 🐧 DM’S ARE SCAMS (@Pentosh1) January 11, 2022
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