When you think of the face of Cardano, Charles Hoskinsons’ is the first that comes to your mind. Over time, Hoskinson has devoted time and effort to the Cardano project. However, things aren’t as rosy as they used to be according to a new video released by Charles Hoskinson. In the video, Hoskinson talked about how he has been having difficulties within the Cardano Foundation. He also talked about the disadvantages of having a centralized body within what is supposed to be a decentralized exchange.
Cardano (ADA) Price Today – ADA / USD
The chief executive officer of IOHK, said that the Cardano Foundation is not doing well regarding promoting the platform. For this reason, he decided to leave Cardano. According to him, the Cardano community said that the foundation is not doing its job. In his words: “the board has failed to execute its core responsibilities”.
The Cardano platform has great potential and ambition. It intends to give people around the world financial freedom. With ADA as its native token, Cardano intends to change the future of business and commerce through decentralized self regulating applications.
In his words:
“Traditionally, after a cryptocurrency is launched, it has a central foundation that is in charge of issuing tokens, constructing cryptocurrency, lobbying for exchange listing, community management and business development. It is this body that encourages people to build on the platform. While this approach seems effective, it places too much responsibility and power on a single entity. This naturally leads to organizational resistance. So, for competitiveness and progress sake, there is always a tendency leave things centralized even if the platform is supposed to be decentralized.”
What he means is that having a centralized body within a decentralized system can easily contradict the whole concept of decentralization if care is not taken.
Cardano (ADA) On CoinMarketCapital
At the time of writing, Cardano was trading at $0.073609. This shows that it is down by 1.44% against the USD and down by 0.91% against Bitcoin. The 24 hour trading volume is $26,542,952 while the market capitalization is $1,908,465,631. The next few days of trading will determine if the price action will change.