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Ethereum’s [ETH] Charles Hoskinson gives his insights on the slow progress of IOHK

Ajay Narayan



Ethereum Co-founder, Charles Hoskinson gave his insights about the slow progress of IOHK
Source: Unsplash

In an interview, Charles Hoskinson, co-founder of Ethereum and CEO of IOHK, stated to the Cardano community that nothing would derail the project or slow down its development. Speaking at an interview by Crypto Insider, he elucidated the progress made by the community in the cryptocurrency space and how they had various projects established within a small time frame.

Charles spoke about the various projects and the constant progress that was witnessed while executing them. He spoke about the side-chain protocol, proof of stake, the Programming Language Theory, and the two programming languages that they wrote, which he claimed were all a huge success.

They also built an entirely new operating environment for smart contracts with IELE virtual machine, and also figured out how to use “formal methods” for cryptocurrency development. He added:

“The wallet back-end that we’re launching with 1.4 is the first example of that, but now all of our engineering is pivoting in that way. We’ve launched two tests nets that are with KEVM and the IELE and the backends for those were created straight from semantics using the K framework.”

He stated that the progress might seem slow or even painful from the outside. He added many individuals would compare IOHK with other projects and say that the IOHK platform is moving very slowly towards progress. He stated:

“All I am saying is guys, it’s all interconnected”

Charles further added that they built a whole copy of Ethereum with the Mantis client and Scala. 15,000 lines of code use Scala checks and it was the first Ethereum client verified with property-based testing. They were running the whole Ethereum Classic network with it. He further stated:

“You can you can deploy Ethereum Classic full node with it and actually it’s soon could have Ethereum’s support. So we wrote that whole thing as a small team of just seven people it’s not hard to ship something that’s useful, upgradeable and meaningful.”

According to Charles it was going be “a decade or two” but the platform was actually capable of growing to a stage where they could overcome the incumbents. He added that the main agenda was to get some liquidity and get all the governance issues “ironed out”. In addition, they would get a great community to work with who would efficiently work towards progress.

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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.