Cardano

In his most recent Cardano (<a href="https://finbold.com/cryptocurrency/cardano/" rel="noopener noreferrer nofollow">ADA</a>) update, the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company’s founder Charles Hoskinson has informed the public about the network’s progress so far and touted the efforts of its team toward decentralization as a future standard to be used in <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency sector</a> regulation.Indeed, Hoskinson stressed the platform’s advancement in the face of criticism, as well as detailing the plans for this year, such as global workshops on <a href="https://finbold.com/guide/how-to-buy-cardano/" rel="noopener noreferrer nofollow">Cardano</a> Improvement Proposal CIP-1694, writing “a ton of really great code,” with a special emphasis on decentralization efforts, as he explained in a <a href="https://www.youtube.com/watch?v&#61;KfL2U2hAGWw" rel="noopener noreferrer nofollow">video</a> shared on May 25.<blockquote>“My belief is that we’ll actually be substantially more decentralized than all <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> on the market, which is one of the primary goals of these types of protocols.”</blockquote><h2 id="header-0">On Cardano decentralization</h2>Specifically, he argued that “criticism is always going to be there, but in the long run, I think we’re going to win because we are winning together as opposed to a particular company, a particular agenda, or particular person.” In his view:<blockquote>“There’s no greater example for that than when we have our moment where we get to measure Cardano’s decentralization against the rest of the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a> space, and I think it’s going to be a wake-up call for all of them.”</blockquote>In Hoskinson’s words, while Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) maximalists and others might dismiss it at first as “academic waste,” the decentralization metrics will probably make their way into <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> standards, and “when people start saying things like ‘sufficiently decentralized’ and (…) what regulations should apply” to cryptos based on their decentralization level, it will have a significant impact:<blockquote>“Those who are more decentralized will be treated like commodities and like protocols like TCP, and those who are more centralized are going to be treated unfavorably from that perspective.”</blockquote>Finally, the Cardano co-founder highlighted the importance of self-sovereignty, as well as “pushing power to the edges and putting you in control of everything (…) as opposed to some of us” as the entire point of the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> sphere, which has also been the main driver for progress behind the Cardano project.Meanwhile, the price of Cardano at press time stood at $0.36, recording a slight decline of 0.07% on the day and dropping 3.30% across the previous week, adding up to the 13.78% losses on its monthly chart, as per data retrieved by <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> on May 26.Watch the entire video below:<react-video url="https://youtu.be/KfL2U2hAGWw"></react-video>Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>

Charles Hoskinson touts Cardano decentralization as ‘wake-up call’ for other cryptos

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