Cardano [ADA] Founder – ‘Fixing the sins of the path with Cardano’

Charles Hoskinson, Founder of Cardano [ADA] was at the crypto ICO Summit recently where he was interviewed by Vincent Everts of Blockchain Innovation, Amsterdam. The summit was held in Switzerland and Vincent interviewed Charles from Input-Output about Cardano and its ideologies.

He was asked about the lessons he has learned and what he is trying to solve with Cardano’s technology.

Goals of Cardano [ADA]

  1. Fixing the sins of the path: Design, development, and deployment of cryptocurrency – to ensure the scientific claims made by them are actually right.
  2. Engineering aspects: Proper architecture, well-defined protocols, and specifications of a wallet, of which, none of them have met their standards in the past 9 years.
  3. To be the first 3rd generation cryptocurrency: Scales as more users join

While defining what 3rd generation means, Charles said:

“…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”

People behind Cardano and their History

Three major entities: Cardano Foundation, the Mergo, and IOHK

Cardano has over a hundred thousand people working in their community according to what Charles said. Jeremy Wood, the Co-Founder, and Charles both worked for Ethereum previously. They currently build blockchains, infrastructures for a living and focus on how to design and implement those for a better service.

They are still in a heavy research phase and are on the verge of moving to practicality phase, said Charles, while talking about the progress and accomplishments of the 3 goals.

Cardano is the first project to introduce peer network in its protocol and pipeline. When questioned about smart contracts, Charles said they have a multi-model idea for that. He said, Ethereum has done some good work and that they will be stealing it from them. They will get the soft copy and roll out with that for now because it is a dominant market standard.

IELE  is being designed by 19 people, a project where mainstream developers will be brought into the crypto world because smart contracts need varied language skills and frameworks to be learned.

K Frame changes the whole game though, and it is the 1st time that any cryptocurrency has adopted this. It is a symmatic’s compilation framework where you “write once and run multiple times”.

This summer, two blockchains will run parallel with smart contracts K IELE and K Ethereum. Scorex is being developed for the past 3 years to make ADA private. The first version of this will be seen sometime this year said the Founder.

He expressed his view on downtrends and up-trends by quoting:

“Technically, the company lost 2 billion dollars in the downtrend and who cares. It is not actually real until you exercise.”

Cardano [ADA] is currently trading at $0.15 after a 6.44% gain standing strong at 8th position in the market. The total market cap is worth $4.01 billion and is trading well on Upbit, Binance and Bittrex to mention a few.

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