Cardano delays due to betting on wrong tech, ambitious roadmap
Charles Hoskinson, the co-founder of Ethereum and founder of Cardano, joins Elisha Owusu Akyaw on episode 14 of Cointelegraph’s Hashing It Out podcast to discuss the current state of crypto and take a deep dive into Cardano. Hoskinson gives his perspective on the recent happenings in the industry, crypto adoption in Africa and more. He also addresses issues surrounding Cardano, including delayed updates.
The show begins with Hoskinson’s explanation of why there was a need to create Cardano. Hoskinson explains that even though creating a new network involves rebuilding the network effect, it allows you to have an unadulterated vision, which is necessary for what Cardano intends to do. On the current state of the network, Hoskinson acknowledges that it takes time to get things done, with about 85% of the initial roadmap completed:
“It took seven years for Cardano to grow from an idea to an ecosystem. We have already seen some huge wins like the NFT sector.“
The founder of Cardano acknowledges the multichain nature of the industry. Hoskinson says everything is going multichain, even if it starts on Ethereum or Cardano. He believes that to stand out among the various blockchains, you need the right product-market fit, great user experience and a “softer” onboarding process.
Cardano has come under some criticism for continued delays and network updates over the years. Hoskinson attributes these setbacks to “betting on the wrong technology and being a bit ambitious with the roadmap.“
Another area of interest for most followers of the project has been the partnerships and collaborations between Cardano and projects in Africa. Hoskinson elaborated that there are several lessons to be learned after dealing with corruption and geopolitical tensions.
The founder of Cardano said he has concluded that it is more reasonable to deal with companies and individuals rather than governments. He plans to expand Cardano’s reach on the continent from East Africa to West Africa, with Ghana as a prime focus.
Related: Africa: The next hub for Bitcoin, crypto adoption and venture capital?
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