- IOHK is optimistic that the five years spent in developing Cardano’s protocol will be a huge success in the cryptocurrency industry in 2020.
- Cardano’s Ouroboros PoS protocol will see the issuance and maintenance of digital assets made easier compared to Ethereum.
The IOHK has put a great deal of time, expertise and money to bring to the market a revolutionary product to meet the highest expectations. According to the CEO of IOHK, the organization behind the development of the Cardano blockchain platform, Charles Hoskinson, it is going to be a lot easier to issue as well as maintain digital assets on Cardano than on Ethereum.
Cardano ready to fulfill goals set for 2020
The development of Cardano has been gradual over the years. However, Hoskinson is optimistic that the time, effort and money put in the network’s development would see the world get access to the best cryptocurrency. The CEO talked in regards to the capacity of the Cardano network, and what it has to offer for the industry and not in terms of price performance.
Over the past five years, IOHK has studied both the proof-of-stake (PoS) and the Proof-of-Work (PoW) consensus algorithms. The research has seen the team come up with one of the most scalable and reliable PoS protocol referred to as Ouroboros. The protocol genesis version can already be used for staking as well as run smart contracts to ensure the development of a comprehensive cryptocurrency network.
The game changer is that the protocol levels the ground for all digital assets on Cardano network unlike the different standards of tokens on Ethereum. This according to Hoskinson, will be very attractive to decentralized applications developers.
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