On 11th August, Charles Hoskinson held an unplanned AMA [Ask Me Anything] session on Twitter. The AMA included topics such as the Bitcoin market, the future of cryptocurrencies, the recent feud between Hoskinson and Vitalik Buterin, among others. Here, Hoskinson talked about his concerns regarding Cardano.
The Founder of Cardano began by saying that he has everyday-concerns regarding Cardano as he wakes up and introspects if Haskell was the right choice of code, or if his ambition to execution for Cardano was the right decision. Moreover, he feels that a lot of innovation could have been put into Proof-of-Work [PoW]. In his words:
“The challenge with Cardano was that we went for gold, we went for everything, we said we want the best programmers, the best programming language… We want the best technology, the best consensus protocol, the best governance. The best this, the best that.”
Further, Hoskinson stated that this ambitious approach helped build an all-star team for Cardano. He also believes that the team’s ambition and appetite were ‘grand’. At the time of the team building process, Cardano was able to attract people who did not lean towards the cryptocurrency space but the technology and the possibility of innovation behind it.
Hoskinson recalls the results of working with the team as magical, except that it did not meet with the high hopes of the team in terms of pace. Hence, it began to work harder on the speed at which the project was progressing. This led to a reduction of the earlier mentioned grand appetite of the team to introduce pragmatism into the equation. Here, the Founder cited an example, saying:
“…like for example with Prometheus in the rust library, and that’s okay you know, that’s the reality of these projects. So you know, as a CEO you’re always haunted by the poor choices you made, the mistakes you made… You know these types of things. And you just have to keep moving forward and you have to pivot.”
He stated a good news and a bad news, wherein the good news is that the hard part of over. According to Hoskinson, the bad news is that Cardano is not the market leader yet when it could have been by compromising on its ambition. However, Hoskinson is confident of the direction Cardano is moving in but is haunted by the delays and bad processes acting as a hindrance in the way.