Cardano CEO Gives Video Update

Cardano CEO Gives Video Update

In his yesterday’s impromptu AMA, Charles Hoskinson, founder of Cardano (ADA), talks about the function of ADA tokens, the Cardano treasury, recent price drops, and a range of general topics.

The CEO explains the slow pace of Cardano development by emphasizing the importance of peer review in protocol development.

I think it’s incredibly important to differentiate the development of software from the development of protocols and scientific endeavours. Protocols don’t come along very often... Why should we then constraint the development of something that could be around for decades to the same forcing factors that we would look at with a cellphone application or with a web application?

Charles Hoskinson, founder of Cardano

In response to a question regarding the function of ADA token, he elaborates that the token has many different features, including:

  • store of value;
  • a computation token;
  • serves as a stake in Cardano’s Proof-of-Stake system;
  • and gives voting power in Cardano’s treasury management decisions.

Charles explains that Cardano users will be able to vote on funding a project proposed by the Cardano team with money in a collective account (treasury), accumulated as the result of inflation.

Charles says that he is not at all concerned by the recent crash of the market and encourages long-term investors to look at crypto at the macroscale.

The founder of Cardano goes further to talk about what blockchains bring to the table. He lays special emphasis on the need for a credential identity system that Cardano seeks to provide. Such systems will open opportunities such P2P lending for people who are unfairly deprived of them.

In a lengthy 2-hour AMA, Charles shares his views and ambitions on a variety of topics such as dealing with stress, world peace, privacy, AI, and even giraffe neck aches.

Watch the full video on Youtube:

Timestamps below are the courtesy of reddit user MoonP0P.

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