By Solomon Odunayo
The efforts put in place by the firm behind developments in Cardano (ADA), Input Output Hong Kong (IOHK) led by Charles Hoskinson, and everyone that ensure progress within the Cardano ecosystem, are paying off, as the project made the list of 50 most innovative crypto projects recently released by CoinDesk.
About two days ago, a major crypto news outlet CoinDesk, released a broad list of crypto projects it termed most innovative and outstanding among other projects.
The crypto news outlet wrote:
“CoinDesk has been covering this varied space for seven intense years. The CoinDesk 50 is our selection of the most innovative, consequential, and viable projects. Together, these organizations promise another internet revolution.”
How the Rating Describes Cardano (ADA) Project
The rating acknowledged the leadership of the CEO of IOHK Charles Hoskinson, as he leads his team of developers to achieve a carefully constructed base-layer blockchain.
It furthered by stating that the protocol is steadily and progressively building trust in experimental Proof-of-Stake (PoS) consensus.
CoinDesk wrote:
“Cardano, created by Charles Hoskinson, is a carefully constructed base-layer blockchain. The protocol is looking to build trust in experimental Proof-of-Stake consensus by peer-reviewing its development, every step of the way.”
40. @Cardano, created by @IOHK_Charles, is a carefully constructed base-layer blockchain. The protocol is looking to build trust in experimental Proof-of-Stake consensus by peer-reviewing its development, every step of the way.#CoinDesk50https://t.co/a1xPEjhBNw pic.twitter.com/lhQp9Gqvsf
— CoinDesk (@CoinDesk) May 13, 2020
The rating further described Cardano (ADA) as a slow and steady crypto project. The crypto news outlet referenced what Charles Hoskinson said about Cardano (ADA) project back in 2018, which has seemingly been the motivation behind progress in the ecosystem.
CoinDesk wrote as follows:
“Proof-of-stake is solved,” Charles Hoskinson, CEO of blockchain firm Input Output Hong Kong (IOHK), said way back in 2018 when discussing Cardano’s novel consensus algorithm. Hoskinson is known throughout the crypto-verse for ruffling feathers and making grand claims.”
The rating also added that one can easily guess the prospect of the crypto project as it advances, especially in a time when blockchains are launching with or converting to Proof-of-Stake (PoS), citing Ethereum as a case study.
Cardano (ADA) Is the Tortoise to Ethereum’s Hare
Conclusively, the rating acknowledged the slow pace of development in the Cardano (ADA) project, which could result in a long-lasting achievement.
“This slow pace of development means that Cardano hasn’t officially shipped its mainnet. Yet, its technical specs, and high-profile deals, have some believing the thirteenth largest blockchain is the tortoise to Ethereum’s hare.”