Building a global blockchain network presents unexpected challenges, says Charles Hoskinson. But that shouldn’t invalidate previous achievements.
C.E.O. Charles Hoskinson is pleased with Cardano’s progress.
Hoskinson told Crypto Capital Venture’s Dan Gambardello that people are too focused on the micro picture.
He added that this viewpoint ignores past accomplishments and fails to account for roadblocks. Especially when the task at hand is to use blockchain technology to create global change.
Hoskinson was referring to the community’s displeasure with Cardano’s current dApp offerings. Many expected the ecosystem to be a hive of activity four months after Alonzo smart contracts went live.
To many people’s dismay, only one Cardano dApp, MuesliSwap, is listed on DeFi Lama.
According to Hoskinson, Cardano has gone from being a top 10 project to a significant force in setting the research standard for Proof-of-Stake.
with over 100 exchanges, 2 million people, 130 dApps being built, 2 million assets issued on it.
Despite the progress made since late 2017, Cardano’s founder stated that “people get caught on the narrow.”
Hoskinson blamed the delays on significant changes over the four-year journey. This forced IO to change its approach, resulting in the delays.
We had to rewrite the software three times, there were major changes in architecture and vendors. There were approaches taken that didn’t work out, there were of course delays.
Using Ethereum as a metaphor, Hoskinson points out that Vitalik Buterin originally planned to launch ETH 2.0 in 2018. Buterin now estimates 2025.
Vitalik said that in 2015, he said Ethereum 2 would come out in 2018, worst-case scenario. It’s 2022, he’s saying maybe 2025.
Buterin said last week that ETH 2.0 is about 50% complete. But major tasks like combining the ETH 1.0 and ETH 2.0 chains and implementing sharding remain.
Hoskinson wonders if this means Ethereum’s achievements are “bad.” “It’s just the nature of the game,” he says.
Does that mean everything Ethereum has done and achieved is bad? No, it’s just the nature of the game and there’s things you learn along the way.