In a recent Twitter video, founder of Cardano and CEO of IOHK, Charles Hoskinson explained his expectations regarding the improvement of the Cardano project in 2020 and beyond.
Cardano was created in 2015 to revolutionize the way cryptocurrencies worked. What began without a design principle or a white paper has evolved into what is now a cryptocurrency that aims to help billions of banked and unbanked users by developing a next-generation smart contract platform.
They focused on creating a highly scalable and sustainable secure proof stake protocol, even though they didn’t know whether it would work or not.
To accomplish its goals, the Cardano development team decided to conduct two parallel kinds of research to see which one would give the best results and make them feel better, discovering not only that PoS works but also that it is the most efficient protocol to work with.
Expected Optimizations
Founded in 2015 by Charles Hoskinson and Jeremy Wood, IOHK is Cardano’s latest parent organization. It manages the research and development efforts, and has a contract until 2020, where it will show the fruits of its research, which it wants to expand through bids for a couple more years, should the community accept it.
Cardano is much more sophisticated than any ordinary cryptocurrency hence it will comply with two mainstream network standards: Bolt and Inter Ledger. This will make it compatible with most of the mainstream cryptocurrencies like Ethereum, Bitcoin, and XRP, obtaining much more strength and achieving a greater number of users committed to the project by the end of the year 2020.
It will also develop a multi-asset standard with the extended UTXO model in search of “the best network-level stack of any cryptocurrency in the market”.
“This is the year you see Cardano basically ascend as the best cryptocurrency in the world. There really is going to be nothing on market that’s as good as what we’re delivering this year”.
Millions of dollars had to be spent to improve the Cardano docs which were badly out of date to obtain the best multi asset platform, but Hoskinson says the new documents will contain a large number of improvements making the project’s theoretical foundations more realistic and manageable over the years.
On the other hand, in his twitter, Hoskinson comments on the need to advance in the ecosystems and decentralized leaderships, something that is very wanted these days and that has been seen in several communities as one of the main desired objectives.
An uncertain future for such an ambitious project with one of the most solid teams of engineers and people experienced in the area. If Hoskinson could help create Ethereum, surely he can create a new —and perhaps better— protocol.
