Charles Hoskinson, the Founder of the 9th largest cryptocurrency in the world, Cardano [ADA], appeared in an interview with The Crypto Lark, wherein the two discussed the growth of the Cardano ecosystem and more. Here, the CEO of IOHK spoke about all the upcoming events in Cardano’s development story.
Hoskinson updated that the team is going to come out with a bunch of exciting projects. Currently, he is in Toronto, attending a significant cryptography conference where the team is about to give a presentation on Ouroboros Genesis. Hoskinson also stated:
“One of our scientists actually flew here from Switzerland and we’re gonna do a video and this is the first time we’ve ever talked about our sharding design that we have for Cardano […] This is the first paper with parallel chains paper that we’ve written so it’s like our take on DAGs and our take on how to shard things.”
Next, he revealed other positive updates coming out, such as videos about Shelley and the Rust project. The Cardano Founder mentioned a developer named Duncan, who is in ‘beast mode’ at the moment, is carrying out the job at hand. In his words:
“Duncan is just in beast mode right now. We’ve woken the sleeping Haskell giant and he’s having the time life you know writing specs and and actually doing the code the right way throwing away all this error code.”
About the launch of different versions of Cardano updates, Hoskinson conveyed that the 1.3.1 update is going to be released soon. Furthermore, the 1.4 update is ahead of schedule in terms of QA testing, which was expected to take a longer time. In the last bit of update, Hoskinson said:
“We’ve started hiring more people and it’s actually the first time we’re having multiple companies in the ecosystem contributing to that, so it looks like Emurgo is gonna provide Rust developers in addition to IOHK for Rust Cardano.”
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Zcash’s revolutionary blockchain hits first fork in the road; Adamant Capital Founder questions move
Zcash, the privacy-centric cryptocurrency project, swiftly stole the Libra’s limelight and switched the debate from payments and fiat-backing to blockchain technology and scalability. Lofty ambitions of Zcash aside, the Electric Coin Company’s [ECC] new blockchain has not convinced everyone in the community just yet.
Tuur Demeester, Founding Partner at Adamant Capital, shared his opinion on Zcash’s new crypto-adventure, much to the dismay of the larger ZEC community. He detailed a list of points surrounding the new project which, in his opinion, “sound horrible.”
Citing a report by Decrypt Media, Demeester highlighted flaws with respect to scalability, similarities in the crypto’s roadmap with other projects and the issue of “sharding.”
Nathan Wilcox, in the aforementioned report, had stated that the new blockchain was developed to make ZEC available to 10 billion customers by 2050; hence, the noted infrastructural improvements to the network. Coupled with the prospects of introducing sharding to “speed up transactions,” a switch was necessary.
Demeester’s primary issue with Zcash’s new blockchain is the introduction of a new coin, following the “implicit admission” that the coin they had, ZEC, was “never scalable” and a jibe at the privacy aspect of it, which the coin’s backers tout often. The lack of privacy transactions usage was described by many as one of the “biggest problems” for Zcash. This was because by default, transactions on Zcash are not set to “private,” unlike Monero [XMR]. In fact, less than 2 percent of all transactions are “fully anonymous.”
The Adamant Capital Founder highlighted its roadmap similarities with Ethereum, especially on the subject of sharding in the blockchain.
Finally, the report, citing Wilcox’s words, said that the ECC and the Zcash Foundation will stop receiving funding from mining rewards in 2020, while not mentioning how the development funding for the new project will come about. Demeester, in his final point of criticism, mentioned this as a “subsidy for ZEC Foundation.”
His full reply stated,
This sounds horrible to me:
– entirely new blockchain (new coin)
– implicit admission that $ZEC was never scalable, and that opt-in privacy doesn’t work
– roadmap has “a lot of similarities with ETH”
– “sharding” panacea
– subsidy for ZEC foundation https://t.co/R5vLXtKOCP
— Tuur Demeester (@TuurDemeester) June 23, 2019
Josh Swihart, VP of Marketing and Business Development at ECC, hit back at Demeester, calling the criticism “wrong and biased.” He said,
“Wrong and biased take. It’s a recognition that bitcoin doesn’t scale and that scalability and privacy are complimentary. Did you watch the session?”
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