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Hoskinson: Feedback loops will give Cardano an advantage over Ethereum

  • Cardano’s creator, Charles Hoskinson, has stressed the importance of a feedback loop to maintain an advantage over Bitcoin (BTC) and Ethereum (ETH).
  • In preparation for the launch of Shelley, exchanges are already updating their wallets, as Hoskinson stated.

Cardano’s creator, Charles Hoskinson, spoke in a recent video about the advantages of the cryptocurrency over Bitcoin and Ethereum. Thereby he pointed out that Cardano is in a stage of feedback loops that will drive the future development of the platform. Hoskinson also referred to the importance of the participation of the community in Cardano’s upcoming Voltaire era.

On the other hand, the creator of Cardano said that users will currently notice that the exchange wallet are disabled. With the launch of Shelley in a few days, the exchanges are currently updating their platforms.

Cardano’s (ADA) future will be better

The creator of Cardano specifically referred to a discussion that originated in the Cardano community about state pool parameters. From the discussion Hoskinson and the IOHK chief scientist noted a formula that could allow the optimization of rewards for the staking pools after Shelley’s launch.

Hoskinson stressed that Cardano is entering a new stage of development that encourages people to contribute ideas. This means that, according to Hoskinson, there are thousands of people motivated to improve Cardano’s platform not only in economic terms, but in terms of equality and efficiency. Hoskinson said that feedback will be especially important when Cardano enters the Voltaire era:

All these ideas will at some point enter into Voltaire’s framework. We have built things so that every 6 to 8 days we can evolve quickly. This is another example of a feedback loop where you, the community, participate, we operate, and others work. Over time, the system becomes something different.

Hoskinson also referred to the native token standard of Cardano that will soon be introduced. For that, IOHK will migrate ERC20 tokens to a Cardano testnet while the feedback loop will there get in action too to develop security tokens and a token building policy. In that regard, Hoskinson said Cardano has a number of factors that will make its platform “infinitely more resilient, useful, fast and secure” than Bitcoin and Ethereum. Cardano, Hoskinson said, does not require centralized control to improve the system.

Finally, Hoskinson emphasized the importance of feedback loops, emphasizing that through them the Cardano ecosystem will be actively open to everyone, whether an individual or large corporation.

The most magical part of all this is that it is universal, so the moment we adopt it, it is available to everyone. Every single user of the system, for whatever they want to do. The richest person and the poorest person are same in terms of their access and capabilities […] Because the very same thing that makes sure money is private, can make your vote private; the very same thing that makes sure money is secure, can make your vote secure; the very same thing that can allow you to do a 10 billion Dollar massive transaction to a required company can use the same settlement system, the same foundations and frameworks that can allow you to tip 2 pennies to your favorite YouTuber. […]

So feedback loops matter and I am incredibly glad that we are starting to really see them in the Cardano ecosystem. There’s a lot of work that we gonna have to do moving into the future, especially in 2021 and it is a high priority that these loops are there.

Below you can see the full video of Cardano’s creator, Charles Hoskinson:

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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