Hoskinson: Cardano to Achieve Unrivaled Decentralization in Crypto After Major Project Developments

Cardano founder Charles Hoskinson has expressed confidence in Cardano making substantial strides in its mission to create a truly decentralized and inclusive blockchain ecosystem.

In a Thursday, May 25 video on his YouTube channel, Hoskinson provided an update on the project’s progress and outlined the significant developments that will contribute to the platform’s unrivalled decentralization in the cryptocurrency space.

First, Hoskinson highlighted CIP 1694, an important project which aims to bring a new way of governing Cardano. Currently, most major decisions on how things are done on the network are decided by the Cardano Foundation and a small group of people. However, according to Hoskinson, with CIP 1694, more people from the community will be able to have a say and be involved in making decisions.

“You should have a say, not people you’ve never met not people that aren’t accountable to you and not people who don’t have your best interest at heart and I’d like to believe we can get there. That’s why we built Cardano,” said Hoskinson.

He further mentioned that the team behind this project was working hard to build and test it on node 8.0, adding that they plan to release node 8.1 soon.

To further encourage community involvement, Charles Hoskinson announced the launch of a grant and Request for Proposal (RFP) program. According to him, these initiatives will provide interested individuals and organizations opportunities to contribute to the Cardano ecosystem by developing tools, infrastructure, and voting accountability mechanisms. He noted that these programs’ details will be unveiled in June and July.

In addition, the crypto guru revealed that Cardano is collaborating with the University of Edinburgh’s decentralization index lab to measure the project’s level of decentralization compared to other major cryptocurrencies like Bitcoin and Ethereum. This collaboration aims to showcase Cardano’s significant progress in decentralization, aligning with the project’s primary goal of building decentralized protocols.

He also mentioned various other ongoing projects within the Cardano ecosystem. These include advancements in peer-to-peer mechanics, signature support, and the development of the Hydra open-source program. According to him, these developments further contribute to Cardano’s journey towards unrivalled decentralization.

 “My belief is that we’ll actually be substantially more decentralized than all cryptocurrencies on Market which is one of the primary goals of these types of protocols,” he added.

Notably, Charles Hoskinson once again stressed the significance of focusing on moving forward even when facing criticism from others in the industry. That said, as Cardano prepares to enter the age of Voltaire, the network can anticipate a surge of projects and people joining, which will positively impact its overall growth and that of ADA, its native token.

Source: Read Full Article