Cardano Will Have the ‘Same Type of Performance’ as Solana by Year’s End, According to Charles Hoskinson
Charles Hoskinson, Co-Founder and CEO of IO Global (a.k.a. “IOG,” previously “IOHK”), the firm responsible for Cardano’s research and development, recently highlighted why “June and October are going to be fantastic months” for Cardano ($ADA).
Hoskinson made the remarks during an interview with Marco Monty Montemagno, presenter of the web series “InsideW3B.” When questioned about his three highest priorities, Hoskinson responded:
“At the moment, I would say that commercial comparability, sustainability, and self-determination are the three major areas in which we are focusing our efforts.
“In terms of commercial comparability, we spent a great deal of time and effort at the outset of the project ensuring accuracy and scientific quality… As a result, we established all of these incredible procedures…
“This year, all of these upgrades will significantly improve the system’s scalability and expressiveness, allowing you to achieve the same level of performance as systems like Solana and others. Or, at the very least, on the same scale of magnitude… Not only do you receive all the security, accuracy, and resilience you need, but you also get the best of what rivals have to offer…
“June and October are going to be fantastic months for us because they’re going to be the months when we switch on a lot of new features… in terms of Plutus upgrades, side chains, and pipelining…” then there are some incredible lines of applied research, such as Hydra…
“In terms of sustainability, you want a system that improves efficiency, scalability, and capacity to develop organically over time, while maintaining the same cost centre and quality of performance that you’ve grown to know and love… That implies you’ll need items such as Mithril…
“And then there’s self-determination, which is unique to Cardano and a few other cryptocurrencies, such as Tezos (XTZ)…. We have an excellent governance layer in place. You control data and have the ability to vote. Additionally, you may participate in the system’s governance… Additionally, Cardano has its own treasury. As with every government, it is capable of printing money. As a consequence, you may utilise it to finance the development of the project. Thus, self-determination encompasses not only self-determination but also self-funding and self-bootstrapping.”
Hoskinson discussed TVL in Cardano-powered DeFi protocols on March 12. His remarks were in reaction to a tweet from a $ADA HODler concerning Cardano’s Total Value Locked (TVL), which refers to the aggregate amount of cash locked inside its DeFi protocols.
According to the IOG CEO, many Cardano DeFi applications are awaiting the Vasil hard fork combinator (HFC) event, which is projected to occur in June, and once it occurs, we could witness even more amazing increase in Cardano’s TVL.
On 10 December 2021, Hoskinson said that he will name the June hard fork after his Bulgarian friend and Cardano ambassador Vasil Dabov, who had just died. Dabov worked as a blockchain consultant, a Haskell developer, and an accomplished ginkgologist.
IOG outlined in a blog post published on February 28 what changes we might anticipate during the June and October hard fork events:
“February’s release is only the beginning. We will deliver a variety of scaling features throughout 2022, with an emphasis on the June and October hard fork combinator (HFC) events. These include critical components of our scaling strategy, such as pipelining, the addition of additional Plutus CIPs, UTXO on-disk storage, and Hydra. When combined with parameter tweaks, these features will increase Cardano’s throughput and improve the system to support an ever-growing number of decentralised finance (DeFi) applications, smart contracts, and decentralised exchanges (DEXs).
“Plus, as discussed in our recent Cardano360 February presentation, IOG is developing a slew of new products and features, ranging from a DApp store and a new lightweight wallet to a Mithril fast sync solution and sidechains. Meanwhile, a tremendous community provides new decentralised applications, services, websites, tools, and APIs to continue expanding a thriving decentralised ecosystem.”