‘Consume Time and Apply Principles for Quality Blockchain’ — Cardano CEO- CEO clarifies the allegation that Cardano takes more time to launch its projects.
- He opines that good principles can bring quality projects in Blockchain technology.
- Charles Hoskinson reveals that ADA works on three basic principles.
In an interview by crypto entrepreneur Jebb McAfee, Cardano CEO Charles Hoskinson unveils steps to solve crypto-related issues using Cardano blockchain. The discussion went over topics like decentralization, governance, inclusive accountability, distress of modern governments
I interviewed @IOHK_Charles! We discussed Decentralization, Inclusive Accountability, Governance, Distrust of modern governments, and how Charles & Team are solving all of these dilemmas with the most rigorously tested blockchain in history: #Cardano #ADAhttps://t.co/cAqhR0oZMs
— Crypto Jebb (@CryptoJebb) February 13, 2022
Charles Hoskinson explains that Cardano has 230 different projects built on it and a vibrant ecosystem consisting of 3 million installed wallets. In essence, the platform combines pioneering technologies to provide unparalleled security and sustainability to decentralized systems.
He affirms that although crypto users say that it takes time for Cardano to build their projects, in reality the platform is fixing the right things with the project and finds time to bring quality products.
To add on, Charles Hoskinson asserts that good principles can also definitely help to produce quality works. This fact works with Hoskinson and his Cardano ecosystem team to stay different from other blockchain enthusiasts. He further says that there is no reason to be in the cryptocurrency space “if principles do not matter”.
Moreover, Charles listed three principles that govern cryptocurrency such as decentralization which can help for peer-to-peer transactions without any third-party intervention.
Secondly, inclusive accountability helps one verify something on their own. He adds that these characteristics have made cryptocurrencies more advisable to use. This is because once the sender transacts coins, the receiver can verify it and ensure no double payment is done.
The third principle is governance. This explains how different blockchain systems evolved. Charles Hoskinson points out that lacks this property and it is almost impossible for it to upgrade its protocol in a meaningful way. On this note, he feels the blockchain ecosystem must have mass adoption to not miss the ability to upgrade, iterate, and innovate.
Regarding the American Competes Act issued to strengthen the US economy, Charles reveals that it is the latest attempt of the Biden administration to spend a trillion dollars that somehow will make America competitive with China.
Charles Hoskinson also noted that the biggest scandal in the last two years would be the transfer of wealth from poor to rich, bankruptcy over several small businesses, which made the life of poor people in America harder.
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