Hoskinson: Cardano will seek partnerships with Goguen in the Silicon Valley

  • With the launch of the Goguen phase, Charles Hoskinson, the inventor of Cardano, aims to expand into Silicon Valley.
  • The OBFT hard fork will take place on February 20 and will mark an important milestone for Cardano.

In a new AMA, Charles Hoskinson, the CEO of IOHK, said that Cardano could find acceptance in Silicon Valley very soon. Hoskinson revealed that he and Emurgo have already discussed a strategy. As he noted, Silicon Valley needs a working solution and a strong developer community to prevail. Therefore, Hoskinson said that approaching Silicon Valley only makes sense with or shortly before the launch of the Goguen phase:

When Goguen hits or shortly before Goguen, I think that is our time to go and really aggressively push things on Silicon Valley. Silicon Valley has a unique and lukewarm relationship with cryptocurrencies. They like building things, likes doing creative new things.

Looking back at the past, Hoskinson noted that when Bitcoin came out it wasn’t very functional and frustrated a lot of people, including himself. As a result, Ethereum was developed as a potential alternative. As a result, a number of venture companies have emerged in Silicon Valley to promote the crypto and blockchain sector. He also added that there are two important factors for success in Silicon Valley:

You need to teach people how to deploy solutions on our platform and the burden is upon us to have great developer experience and for that infrastructure to help developers get to their solutions. So once we have those two elements it’s gonna be very easy for us to evangelize not just in Silicon Valley, but also evangelize in places like New York City, London, Tokyo and other large markets that have a lot of things going on. […]

Very shortly we will a position where we clear all these major updates and […] we will be in a great position to start open up that dialog, and that’s and continuous, unending dialog.

Cardano makes important progress

In less than 5 days the OBFT hard fork will take place. As Hoskinson explained, the update proposal was released yesterday on the network. According to the design of the network it takes five days until the update is accepted. Once the OBFT hard fork is completed, all nodes will use the new Cardano client, which has a completely new design.

The Haskell implementation is the result of 18 months of development. The implementation consists of two main components: the Cardano node and Cardano Explorer backend and the Web API and will ensure that the Cardano architecture is scalable, agile and interoperable.

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The subsequent update will be the Byron Reboot. This will be user-centric and will target the Daedalus wallet. As Hoskinson promised, the poor user experience with the Daedalus wallet will be significantly improved with this update. It is expected that the update will be released in March.

Regarding the launch of Shelley in mainnet, Hoskinson explained in a previous AMA that the Haskell test network will be split into 2 phases. Phase 1 will be used exclusively for the migration of the stake pools. The second phase will see several updates, including a “balance check” to activate staking for users. Once these updates are activated, it will be foreseeable when the Shelley mainnet will be able to be launched, Hoskinson said.

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Hydra Paper nearing release

In one to two weeks, the Hydra Paper will be published, the result of two years of research and development. Then, Hoskinson says, Hydra will be live and accessible to everyone for the first time. In the previous AMA, Hoskinson stated that in the long term Hydra will take Cardano to a scaling level of VISA.

The exact numbers are still being discussed. But it looks like our TPS rate is in the thousands and has a lot of room for improvements and beyond that. […] The base ledger is looking like its performance is somewhere between 50 to 100 transactions per second. So adding the scaling solution on top will give us the capacity over time to become a VISA card, MasterCard scale system.

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About Author

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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