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ADA Cardano founder Charles Hoskinson commented on the sharp drop in ADA prices and talked about the future roadmap of the project.
Cardano founder Charles Hoskinson made an important statement on the future roadmap of the project when commenting on the sharp drop in ADA prices. Hoskinson said Cardano's core infrastructure needs to be more community-controlled and the development process needs to be decentralized to a broader group of companies.
Hoskinson admitted that the ADA has lost a lot of value, saying: "There is no doubt that there has been a sharp decline." He recalled that the ADA rose to $1.20 last year and believes there was considerable excitement at the time that prices might return to 2021 levels.
According to Hoskinson, the market outlook changed completely after October 10, and the plunge reinforced the view within the Cardano community that the project needed to return to its core principles.
Hoskinson believes Cardano should not be judged solely on price performance, emphasizing the network's track record in reliability. He said Cardano has earned a reputation as an uninterrupted, vulnerable and 24/7 blockchain based on years of intensive work.
Hoskinson also said there is a strong need for Cardano's core infrastructure to ultimately be controlled by the community or smaller, more flexible companies. He pointed out that through this shift, he hopes the Input Output Group will focus its activities on the two most successful areas: developing new projects and conducting innovation, R & D work.
Hoskinson said the Input Output Group is working to make open source development activities more decentralized, explaining that their goal is to have many independent organizations (not just a few companies) working on Cardano's core infrastructure.
Hoskinson added that Cardano's Haskell-based node software is no longer a product of a single company, but a joint contribution and development of multiple companies.
* This article does not constitute investment advice.
