Loading cryptocurrency prices...

Charles Hoskinson warns Cardano community to get ready

Is the Cardano community prepared for lift off? That’s the question IOHK—the company that builds Cardano—CEO Charles Hoskinson raised at the Cardano Emurgo Advisory Showcase in Japan earlier this week.

- Advertisement -

Cardano is a proof-of-stake blockchain platform that has been a long time in the making—ever since Hoskinson left Ethereum in June 2014 after helping to create it. So far, control has been in the hands of the company IOHK and the non-profit Cardano Foundation, but that’s about to change.

On Monday, Hoskinson outlined the project’s next steps, and warned the community that when it takes control, it needs to be able to make the right decisions on behalf of the network.

“I’m not in charge, you are,” Hoskinson said. “Everyone of you has to be armed with a lot of facts, a lot of information. Very soon our protocol is going to begin rapidly decentralizing. Shelley is coming.”

Shelley is an upcoming upgrade to Cardano, which will remove cryptocurrency miners from the equation, replacing them with a proof-of-stake consensus mechanism.

- Advertisement -

Hoskinson added that the testnet will be coming out in less than two weeks for self-nodes, where users can run their own network of Cardano nodes, essentially controlling their own, miniature Cardano network. Shortly after that release comes out, there will be a beta version, he said.

“And we’ll wake up and Shelley’s here and that means you’re running the network. You have to make decisions. Where do we go? A or B? Left or right?” Hoskinson asked.

Hoskinson made some bold predictions about the growth of the Cardano community, and his own company.

‘When we started IOHK, it was just Jeremy and me. Two people. Now we’re two hundred people. It seems like a lot but the Cardano ecosystem has hundreds of thousands of people in it. We’ll wake up and maybe my company doubles in size, God help me. The Cardano ecosystem could have a million at that point.”

Let’s just hope too many cooks doesn’t spoil the broth.

Source

Previous Articles:

- Advertisement -

Latest News

OCC Grants National Trust Bank Status to Circle, Ripple, Paxos, Others

Five major digital asset firms received conditional approval from U.S. banking regulators to operate...

Crypto Veteran Jill Gunter Loses $30K in Thirdweb Contract Hack

Jill Gunter’s crypto wallet was drained due to a vulnerability in a Thirdweb contract.The...

Figure Technology files SEC for native equity on Solana blockchain

Figure Technology has filed with the U.S. SEC to launch blockchain-native equity on Solana,...

Nasdaq Proposes Tougher Rules to Curb Volatile Small-Cap IPOs

Nasdaq proposes new rules to reject initial public offerings (IPOs) showing signs of risk,...

Bitcoin Faces $1T Crash Risk as MSCI Crypto Rules Loom

Bitcoin’s price has dropped from $126,000 to around $90,000 since October.Michael Saylor warns of...
- Advertisement -

Must Read

The 10 Best Crypto Podcasts You Can’t Miss

Table of ContentsBest Cryptocurrency Podcasts To Add To Your Playing List1. The Money Movement2. The Crypto Conversation3. The Pomp Podcast4. What Bitcoin Did5. The...