Hoskinson Expects Cardano To Be Better Than Ethereum In 6-12 Months

Updated On Feb 19, 2018 by Cameron Bishop

Recently, in an interview with Finance Magnates, Cardano ADA founder, Charles Hoskinson, explained in great detail about the project, future plans and clarifications to remove any unwanted doubts surrounding the project. The notable excerpts from the interview is provided below.

When Finance Magnates asked why nearly 95% of Cardano’s investors in ICO were Japanese, Hoskinson stated that the nature of the project and sales strategy is responsible for the domination of Japanese investors. Further, Hoskinson opined that China, Japan and South Korea are the three major crypto markets and he concentrated on Japan due its crypto friendly regulations. Hoskinson also stated that he considered the European markets as “secondary offering.” The strategy has certainly yielded positive results, according the founder of Cardano ADA.

Hoskinson also denied accusation that Cardano preyed on the elderly. According to him, only 5% of the investors were more than 65 years old.

Regarding Cardano’s relationship with Tidashi Izumi, the person behind Noah coin (considered to be a scam), Charles said,

“He’s one of those 1400 distributors and I don’t have any business relationship with Izumi. He owns nothing at Emergo, nothing in the CF, nothing in IOHK. We don’t endorse NoahCoin, we don’t endorse any of his projects. He was an independent agent, working with 1400 other people. I disavow him, I want nothing to do with him. I don’t know the man.”

Hoskinson has left Ethereum and Lisk projects a while back. Therefore, when questioned whether he will stay with the Cardano project, Hoskinson said

“Well I’ve been here for 3 years already, they keep saying that I go away in 6 months, but I’ve kind of already gone past that threshold. The other thing is that I’ve stuck around at Ethereum Classic for damn over a year, putting my own money to build a client. We’ve just released the client, so we’ve honored that commitment.”

Hoskinson pointed out that his company had grown from 2 people to 100 people and operate in ten countries. He also revealed that personally he has written 70,000 lines of code. Hoskinson also informed that Cardano has established three research centers, one each at Edinburgh, Tokyo, and Athens.

About future plans, Hoskinson said he will expand the use of Cardano and take it beyond proof-of-concept. The team is working towards mass enterprise adoption. To a question about the rising popularity of Cardano, Hoskinson said the popularity is derived from the science, team, progress, and philosophy of the project.

Hoskinson further said that within 6 months or a year from now, Cardano

“will be pound-for-pound better than Ethereum and Bitcoin in every dimension and aspect, just based on how our roadmap is rolling out. That’s just generation one.”

Charles also conceded that Ripple is a strong player in the market, in addition to Ethereum and Bitcoin. He also expressed a desire for Cardano ADA to conquer a similar status as TCP IP. Hoskinson also underlined that Ripple is trying to transform from the inside, while he is trying to transform outside and spread Cardano across all continents. He also felt that deploying a tracking feature in a coin is not a right thing to do as it gives power to a centralized actor to breach fungibility. Hoskinson also underlined that crypto currencies were basically built to avoid capital controls and civil asset forfeiture.

Charles concluded that

“The only way you can really have a high assurance there is using formal specification and verification. Then there’s user education, and when you do these three things you end up having a very secure ecosystem. Now, there is a question of what will we support to be able to enhance security in the ecosystem. So multisig hardware wallets, and paper wallets, are absolutely required for people to safely secure their funds.”

He also added that Cardano will be listed on other exchanges on a step-by-step basis to avoid any coding related issues.

Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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