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Cardano is a multi-ledger system that will support multi-currencies, says Charles Hoskinson




Cardano is a multi-ledger systems that will support multi-currencies, says Charles Hoskinson
Source: Unsplash

Charles Hoskinson, the creator of Cardano and CEO of IOHK, organized a surprise Ask Me Anything session on his YouTube channel on March 24, 2019. In this session, the CEO covered various topics such as the Roadmap update, the release of training materials, Cardano’s status as a multi-asset ledger, and EOS centralization.

On being asked about the roadmap update, Charles Hoskinson assured that it would be announced during the IOHK summit being held between April 17-18, 2019 in Miami.

Hoskinson further spoke about whether ADA would be the only cryptocurrency for the entire Cardano ecosystem, or there would be more currencies introduced in the future. He stated that it would not be a “particular usual financial system,” if users cannot issue their own assets, adding that Cardano was a multi-ledger system that would support multi-currencies.

Hoskinson went on to say,

“And, we think we have a great strategy for handling that, I’ve partnered with somebody personally who’s in the ICO market to see what we can do about bringing STOs to our platform as well or at least ensuring inter-operability standards. So, we will be a multi-asset ledger.”

Additionally, Hoskinson remarked that EOS “felt like centralization,” rather than a “perfectly legitimate product.” He added that he failed to see any differentiation between deploying something on EOS versus deploying something on Amazon. The Co-founder of Ethereum said,

“[…] expect for being much more expensive, unpredictable pricing and lower quality of service and also when things go wrong, and have no recovery mode outside of begging a committee of people to save you […] This is not innovation, this is just application old concepts and then bolting on poorly conceived governance system and cutting a lot of poor facilities.”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.