While the cryptocurrency industry prepares for the launch of the Vasil hardfork at the end of July, the Cardano (ADA) founder Charles Hoskinson has given a detailed update on how things are developing and his organization’s plans for the future.
Describing the mammoth amount of work in progress, Hoskinson touched upon the plans for the foundation of multiple committees, including “governance steering committee, technical steering committee, and other committees that are related to things like growth and adoption,” in a video broadcast on June 30.
In order to support all this work and the network expansion, he stressed the need for more manpower, stating that “you have to allow a set of people in the ecosystem to grow and evolve to a point where those people are capable of participating.”
To this end, he announced setting up a website for signups, “so whoever wants to be part of this members-based organization in some capacity can sign up and then either you pay the membership fee to the organization or you contribute some sort of work to the organization or both.”
He added that:
“That’s one side of it. Another side is we need to get more people working for Cardano.”
Constellation of stars and cautious approach
In addition to the human resources that the Cardano system requires for growth, its founder highlighted that:
“You have to have a constellation of stars that allow you to steer in the right direction. Some of that is decentralization, some of that is resilience, some of that is effectiveness, the cost, some of that is use and utility.”
Hoskinson admitted Cardano was “slow to market with smart contracts”, but that it “missed a lot of the DeFi stuff that’s happening today.” He views this as a benefit, “as the DeFi markets come collapsing down and exponential losses are occurring.”
What the future holds for Cardano
Talking about the second half of the year, Hoskinson said that it was dedicated to “reflection, it’s a time for debate, it’s a time for cleanup, it’s a time to really dig deep and get everybody in the right place,” which is what his company will be doing.
“And with Vasil and pipelining with Vasil, I think there’s enough headroom there for you guys to build lots of interesting things on Cardano,” he said, referring to the developers building decentralized apps.
Finally, the Cardano founder said bear markets were the best time for finalizing the last elements of the foundation as an ecosystem because:
“Bear markets are where everybody gets much more collaborative. More people are willing to join and work with you, and people actually pick up the phone. Bull markets are crazy. Poaching is at an all-time high, people are very hostile, extremely negative language is used, and inhuman things happen.”
However, according to him, “one thing that’s remained constant through bull or bear – the Cardano community is here to stay.”
As Finbold reported, the Cardano developer Input Output (IOHK) team earlier said it was working hard on putting the finishing touches and preparing the ground for the highly anticipated Vasil hardfork.
Featured image via Charles Hoskinson YouTube.
Watch the entire broadcast: