Developer behind surging Cardano ADA token talks crypto and blockchain technology predictions.
With 7x returns this year, Cardano ADA ranked fifth largest in the cryptocurrency market and sparked controversy over the benefits of rallying over blockchain leaders like Bitcoin and Ether.
Supporters point out that in areas such as identity management and governance, networks and projects use relatively little energy and can benefit from the rise of Decentralized Finance (DeFi).
“Charles Hoskinson, founder of the Cardano platform and CEO of IOHK, a blockchain research and engineering company, spoke to Bloomberg News about his efforts and the broader crypto ecosystem.
He developed a secret ballot system to investigate some of the toughest challenges cryptocurrencies face.
The developer behind surging Cardano ADA token talks crypto and blockchain technology predictions.
The following statement by Hoskinson, who was also part of the Ethereum founding team along with Vitalik Buterin, has been edited for clarity and length. How is the Ethiopian project progressing?
Its population is about 1 million. From kindergarten to high school. I think the first issue will be released from September to October.
In the beginning, regardless of the degree or academic performance, if they received praise, it was used as a universal system of recognition.
Our intention, among other things, is to fight for the entire national identity card system, which has a population of about 110 million.
How do you work for human rights? We strongly believe in high human rights standards.
Governments such as China and Saudi Arabia have many serious violations of this system.
There is no point in creating an identity solution or blockchain. These decisions can be used against the population.
All transactions must be completed. Everything changes, and in some cases you have to work in the country for years and then leave.
We recently turned down a deal with one of the Central American countries that we really wanted to do, but after learning that the situation was getting worse and the rule of law was getting worse, he said that he would not allow us to make a deal. government.
This is a company, but the company’s vision is a global system. For everyone, Berlin and New York are not places where the best system is needed.
You have to get into difficult places and be very careful. What are your thoughts on Ethereum now?
You are trying to apply your youth and wealth to what you think fits into the ecosystem. Many people work with it, for example ConsenSys.
A massive company with lot of cash. If you have that drive, something will happen.
Major efforts on the modernization strategy will take place in 2022 and are expected to be completed by the end of 2022 or early 2023 at current prices.
How about a rope? The original premise of Tethers was that all Tethers in circulation had US dollars in their bank accounts.
The fiction is over, and they think it could be gold, China’s trade document, worth the dollar. Who knows?
Usually under control of less than $60 billion or more and with very strong promises.
Regulators will be reluctant to attack Tether until alternatives to Tether such as USDC emerge and the Tether name is rejected.
This could collapse a big part of the cryptocurrency market, similar to the Lehman Brothers bankruptcy in 2008.
Therefore, it is necessary to remove the lever, eliminating the risk and eliminating the problem.
This effectively prevents the penetration of neutrals.
What do you think about increasing the competitiveness of cryptocurrencies?
Maximalism is Satoshi’s religion and teachings. When he said, “I will change it when it is 15% faster,” he said.
“I cannot change it because it is not in the Bible or in the official Bitcoin document.
“Anything with cryptocurrencies because when I choose one blockchain, all other companies attack it.”
What does IOHK do?
Thoughtless encryption. This is the closest thing to magic in the industry.
When someone sends bitcoins, they need to own the entire blockchain so that they know it is genuine and has never been used twice.
However, if you have evidence without knowledge, evaluate it the same way.
Tests are run in kilobytes, and blockchains can be exabytes. It’s actually the only way to scale in terms of smart contracts and transactions, but it’s also great for protecting human rights, protecting whistleblowers, and ensuring freedom of association. For this you need a system.