Charles Hoskinson, Co-Founder, and CEO of IO Global (aka “IOG,” formerly known as “IOHK”), the firm in charge of Cardano ($ADA) research and development, highlighted why “June and October are going to be wonderful months” in a recent interview.
During an interview with Marco Monty Montemagno, host of “InsideW3B,” Hoskinson made the remarks. When questioned about his top three priorities, Hoskinson said:
“Right now, I’d say the three key things we’re concentrating on are commercial comparability, sustainability, and self-determination.”
In terms of commercial comparison, we put a lot of emphasis on correctness and scientific brilliance at the start of the project… So we created all of these incredible protocols…
“This year, all of these changes will be released that will vastly improve the system’s scalability and expressiveness, allowing you to achieve the same level of performance as systems like Solana and others.” Or, at the very least, on the same scale… Not only do you receive all of the security, correctness, and resilience that come with a three-million-strong community, but you also get the best of what competitors have to offer…
June and October are going to be fantastic months for us because that’s when we’ll be turning on a bunch of new features… like Plutus enhancements, side chains, and pipelining… There are also some fantastic applied research threads, such as Hydra…
“In terms of long-term viability, you’d prefer a system that, as it runs, becomes more efficient, scalable, and capable of organic growth, while maintaining the same cost center and standard of performance that you’ve grown to know and love… That implies you’ll require items such as Mithril…
“Then there’s self-determination, which is only found in Cardano and a few other cryptocurrencies like Tezos (XTZ)… We have a fantastic governance layer in place. You have data, and you have the ability to vote. You can also take part in the system’s governance… Cardano has its own treasury mechanism as well. It has the ability to print money, just like any other government. As a result, you may utilize that money to help it grow. So it’s not just about self-determination; it’s also about self-funding and bootstrapping.”
TVL in Cardano-powered Defi protocols was discussed by Hoskinson. His remarks were in reaction to a tweet from a $ADA HODler concerning Cardano’s Total Value Locked (TVL), which is the total amount of cash locked inside its Defi protocols.
Many Cardano Defi apps are waiting for the Vasil hard fork combinator (HFC) event, which is likely to happen in June, according to the IOG CEO, and once that happens, we should witness an even more spectacular increase in Cardano’s TVL.
On December 10, 2021, Hoskinson announced that the June hard fork will be named after his Bulgarian friend and Cardano ambassador Vasil Dabov, who had recently died. Dabov was a blockchain consultant, Haskell expert, and ginkgologist with a lot of expertise.
IOG highlighted what changes we might expect in the June and October hard fork events in a blog post published on February 28:
“We’re only getting started with our February release. We’ll introduce a number of scaling improvements throughout 2022, with a focus on the hard fork combinator (HFC) events in June and October. Pipelining, new Plutus CIPs, UTXO on-disk storage, and Hydra are all part of our scalability strategy. These additions, when combined with parameter tweaks, will improve Cardano’s throughput and optimize the system to support a growing number of decentralized finance (Defi) apps, smart contracts, and DEXs.
Plus, as we mentioned in our Cardano360 February presentation, IOG is working on a number of new products and features, ranging from a DApp store and a new light wallet to Mithril fast sync and sidechains. Meanwhile, an amazing community provides new DApps, services, sites, tools, and APIs to keep a thriving decentralized ecosystem growing.”
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