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Charles Hoskinson Praises Cardano, Calls It The “Root of Trust” For the Entire Crypto Industry

Charles Hoskinson, Cardano Co-founder and CEO of Input Output Global (IOG) has lauded Cardano, describing it as the “foundation of trust” for the entire cryptocurrency industry.

Speaking during the just concluded Cardano Summit 2023in Dubai, Hoskinson encapsulated the journey of Cardano thus far and offered an intriguing glimpse into the promising future of community governance and innovative technologies within the Cardano ecosystem.

“Not too long-ago Cardano was very small but we had a great vision,” Hoskinson said on Thursday, “.…if you think about what we’ve achieved over the last seven years…it’s pretty remarkable and we’re just getting started.” 

Further, Hoskinson emphasized the remarkable resilience and trustworthiness of Cardano, which has been operational for five years without any failures.

“The fact that Cardano has never failed in 5 years, it’s always been running 24 hours a day 7 days a week, it’s become effectively the root of trust of the entire cryptocurrency space there is no engine better-there is no code better than what we’ve re we’ve written,” he added.

Additionally, during the summit, Hoskinson unveiled an exciting new framework called “Partner Chains” that promises to bring about a groundbreaking transformation in the way new blockchains are launched and managed. This innovation combines modular blockchain technology with Cardano’s renowned attributes of security, liquidity, and reliability. Charles emphasized that this framework will empower developers and validators to harness Cardano’s core strengths and leverage new Cardano technologies to create optimized partner chains.

Notably, the recently announced data protection-focused blockchain, Midnight, will be the first partner chain to implement this groundbreaking framework.

Meanwhile, the Cardano community remains actively engaged in building and expanding the Cardano ecosystem. The latest weekly development report revealed several key highlights from October. The IOG teams actively contributed to the Cardano Summit with keynotes, panels, masterclasses, and a diverse lineup of products and services.

The report also highlighted the ongoing efforts of the Mithril team in their pursuit of decentralizing the Mithril networks by developing a peer-to-peer (P2P) networking proof of concept.

Additionally, improvements in the equality comparison of PlutusTx, Hydra example and Catalyst gearing up for Fund11 were among other key developments.

Furthermore, the report showed that as of November 3, 2023, Cardano boasts 148 launched projects, 9 million native tokens, and a staggering 1,295 projects in the development pipeline, with 77.6 million transactions processed.

That said, recent developments on Cardano reflect the project’s continued growth and potential as a trusted foundation for the entire crypto ecosystem.

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