Charles Hoskinson comments on Cardano progress, says ADA set standard for Proof-of-stake

Charles Hoskinson believes that Cardano has made progress despite challenges associated with proof-of-stake blockchains. The altcoin’s progress has increased its relevance and demand across the crypto ecosystem. 

Cardano hits key milestones, sets a standard for Proof-of-stake

Cardano is now traded on over 100 exchanges, the Proof-of-stake blockchain has come a long way, hosting 130 decentralized applications on its platform. As Cardano hit several key development milestones, Charles Hoskinson shared his comments on the altcoin’s progress. 

Hoskinson said that he is content with the progress made by the Cardano network. The CEO of Input Output Hong Kong (IOHK), the company behind Cardano has acknowledged Cardano’s development. 

Hoskinson was quoted as saying:

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.

Comparing Cardano with the Ethereum network, Hoskinson reveals that the altcoin has set the standard for Proof-of-stake (PoS) blockchain. The Cardano founder explained how Ethereum delayed the launch of ETH2 in 2018 and the update is still under development. 

Hoskinson said,

Does that mean everything Ethereum has done and achieved is bad? No, it’s just the nature of the game and there are things you learn along the way.

@Pentosh1 believes that Cardano price is preparing for a break in the next few weeks. The altcoin has posted losses consistently for a week. 

FXStreet analysts evaluated Cardano and predicted that the altcoin’s price could double within weeks, following a 70% correction.