Charles Hoskinson Talks About the Future of Cardano, Alonzo Fork and MainNet
Cardano will soon produce Alonzo fork. It’s brought a lot of new things. According to Charles Hoskinson, the project team is busy preparing for the launch of smart contracts
In his interview, the creator of the cryptocurrency recently shared his vision of the future project, answered the question, which projects are ready to migrate to the testet, and also told what difficulties the developers had to face.
According to him, the expansion of functionality before the launch of smart contracts reveals huge prospects for Cardano. The Plutus platform will be the basis for many other projects.
Because Cardano’s source code has its own features, the developers have launched Plutus Pioneer Program to teach work with dApps. More than a thousand developers signed up for it.
About the project
Cardano was created in 2015. A strong team is working on cryptocurrency. During the 6 years of its existence, the project has undergone many protocol updates, refinements and changes of the original blockchain.
From the Byron Era, which started in the fall of 2017, to today’s version Goguen, which survived a series of forks (Mary, March 2021), (Alonzo, in turn), the blockchain became more decentralized and received a wide range of functionality.
Together with the introduction of Alonzo, the Plutus smart contracting platform will finally be launched. DEX and NFT projects, stable coins, oracle platforms and any other projects present in other blockchains will be able to work on it.
The Pioneer Testnet test network will be launched first. Then, after 4–6 weeks of testing and refinement, smart contracts will be launched in MainNet.
Integration with projects
As we have already said, more than 1000 developers are interested in the possibility of creating dApps. The VC-Catalyst Special Fund, created by the Cardano team, is ready to finance 100–200 projects, both for the purpose of creating from scratch and for the purpose of migration.
The company has also entered into contracts with 2 dozen dApps and platforms that are ready to start working on the TestNet. Their transition will take up to six months.
Most teams are not interested in full migration to the new blockchain, but multi-chain work. However, there are also such as SingularityNet, who are ready to completely switch to Cardano. In any case, integration work will only begin after the testet is launched.
Why is it so long?
It is no secret that the project was criticized for its slow development. Hoskinson admitted that the project had a lot of technical problems at the start. The main one is in choosing Haskell.
This programming language wasn’t quite right for blockchain. Therefore, the developers spent two years (2018–2019) on its modernization. Cardano’s source code was rewritten three times before 2020, until the goals were achieved.
Then, says Hoskinson, everything went smoothly. In 2020, the Shelley Update was launched, which made PoS mining possible. And in 2021, Alonzo will launch smart contracts.
Today, the Cardano blockchain is functional and stable. Although the transition to PoS was started 2 years later than in Ethereum only in 2016, today Cardano is already a year mined by staking. Ethereum is still going to this goal.
In the project more than 2,000 betting pools. 80 percent of the blocks are mined by 200–400 major staking-miners. For comparison, in the BTC blockchain 50% of blocks create 8–10 mining giants.
Therefore, the crypto project is more decentralized and environmentally friendly than bitcoin. Hoskinson hopes that users will appreciate the team’s performance, and Cardano will be able to contribute to the further development of the blockchain space.