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Hoskinson Defends Cardano Slow Progression

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Nov 30, 2021

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Is Cardano Too Slow?

The Cardano network gained a slew of additional features as a result of the Alonzo hard fork, particularly following smart contract inclusion. While the network’s community has been overwhelmingly positive about the enhancements, it has also been chastised for the ‘delay’ in rollout dates.

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Consider dApps, which were scheduled to begin on Cardano within weeks of the hard fork, according to a popular Reddit thread

With the recent debut of the Plutus Application Backend [PAB], an off-chain backend service for managing and handling the requirements of dApps throughout their lifecycle, the process appears to be well advanced. 

What Hoskinson Has to Say

Cardano founder Charles Hoskinson has provided an overview of how the community should “manage expectations” in terms of the development and security of these decentralized applications. In regards to their release, he stated, 

“Cardano dapps are under construction and I wouldn’t be surprised to see them in the market very soon like within weeks to months.”

Creating “high assurance” software with few risks and faults, according to Hoskinson, may be costly and time-consuming. This is why Cardano is regarded as “too sluggish” in the market. 

He further says that, given what’s at stake and how much money is at stake, I believe any project should go as quickly as possible. He reminds everyone that $10.5 billion has been lost or stolen this year as a result of poor dApp design and insider issues.

The CEO of IOHK also conceded that because of technological advancements and human mistakes, some of the dApps deployed on Cardano will undoubtedly be fake. In reality, Hoskinson put the onus of creating foolproof dApps squarely on the shoulders of the developers. 

Aside from that, the engineer emphasized the importance of the community asking pertinent background and developmental inquiries. These should include both the programs and their developers in order to avoid “back door exists” and security breaches, as well as “rewards and incentives for the audit, oversight, and curation of dApps.”

Cardano expanded its block size by 12.5 percent earlier this week to meet an expected surge in demand by scaling the network and speeding up transaction speeds and data throughput. This change could be in preparation for the implementation of dApps, which are projected to expand blockchain usage. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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