In a recent interview, Charles Hoskinson talked about some important concepts within blockchain technology in the context of Cardano’s (ADA) research and development. Hoskinson is co-founder and CEO of Input Output Global (IOG), the company behind the development of Cardano.
The interview with Charles Hoskinson was published by Forbes on April 26. This article briefly summarizes the key points of that interview. One of the points that Hoskinson makes is that his company contributes not only to Cardano, but also to the entire crypto sector:
“We published 102 scientific papers over a three-year period. A big part of those 102 papers was creating a strong theoretical foundation for cryptocurrencies in general, not just Cardano. For example, we wrote a paper, GKL15, which has already been cited more than 1,000 times. ”
Proof-of-Stake against Proof-of-Work
“With proof-of-stake systems, instead of mining, we say, ‘We’re going to assess your stake, treat it like an artificial lottery and that would mean you should earn that much on average.’ What is important is that you do not have the gigantic fixed costs that you have with proof-of-work systems, such as mining. Cardano, for example, is 1.6 million times more energy efficient than Bitcoin. ”
About the future of Cardano, the founder said the following:
“2021 is truly the year in which everything we have dreamed of over the past five years comes together for us. That means: the on-chain management, smart contracts, the metadata standard, the issuance of tokens and full decentralization. We make countries do beautiful things and we generate millions of users ”
Clearly, Cardano is far from finished developing. It also recently emerged that Input Output Hong Kong, Charles Hoskinson’s company, had posted a large number of vacancies online and that the company was looking for additional man and woman to prepare for one of Cardano’s most important updates yet to come. like the introduction of smart contracts.