Wednesday, May 5, 2021

Charles Hoskinson: Over 10,000 Tokens on Cardano Will Go Commercial Once We Turn On Smart Contracts

Charles Hoskinson, the CEO of Input Output Global (IOG) and creator of Cardano (ADA), has revealed that the number of tokens issued on the Cardano blockchain since the implementation of Mary Hard Fork is now more than 10,000.

In a new interview with Forbes, Hoskinson revealed the mind-blowing increase in the number of tokens issued on Cardano. He made this disclosure after he was asked to share what’s next on Cardano’s roadmap.

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The mathematician disclosed that relatively 20,000 people are participating with the tokens but they are still running as a side chain. He said once smart contracts functionality is implemented on the network in a few months’ time, there will be a clear road to commercialization.

Hoskinson pointed out that his team is getting nation states to do cool things, which would, in turn, bring millions of users to the Cardano network.

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Charles Hoskinson noted:

“What we’ve been doing is pulling all the pieces together. We’re kind of finishing up the Cardano 2020 research agenda, and the idea is that over time as the research crystallizes, we’ll turn it to the best commercial product we can. 

“Ideally, you pick up a number. Ours was “let’s do it in five years or something; let’s have it all done by 2020.” Of course, I’m a very optimistic person and I tend to underestimate engineering and scientific complexity, so we didn’t quite hit that milestone. 2021 is kind of our overflow year, where we’re pulling together and turning on all the things we dreamed of over the last five years. That includes things like our governance stack, smart contracts, our metadata standard, token issuance, full decentralization. We’ve hit almost all our goals: we’ve done metadata, we now have a native token.

“There are more than 10,000 tokens issued on Cardano in just a month, which is mind-blowing. And in the next few months, we are turning on smart contracts. The last mile from there—we will be turning on all the governance components.

“We already have 20,000 people participating with them, but they’re running as a side chain, so some of those things need to be linked to the main network. Once those things are turned on, commercialization of the platform is already underway.

Read Also: Charles Hoskinson: Biden Tax Plan Could Notably Bearish Values of Cryptos; I Have Never Owned Ethereum (ETH)

“We’re getting nation states to do cool things and we’re bringing millions of users in through that push model. We’re also doing decentralized finance, non-fungible token marketplaces—all the usual suspects that you see in the Ethereum lab.”


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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