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Charles Hoskinson (CEO IOHK) updates Cardano

Charles Hoskinson, the CEO of IOHK, assured the community that all Cardano (ADA) releases are on schedule and that everything is proceeding at a rapid pace. Hoskinson's last update came when IOHK celebrated its 5th birthday and looked back on the achievements of the past few years.

Upcoming Cardano releases

Charles Hoskinson, the CEO of Cardano’s parent company IOHK, announced a preliminary schedule for some of the company's most anticipated releases.

In a YouTube update posted on IOHK's 5th birthday, Hoskinson said the restart version of Byron will be released this month. Byron will make it easier to connect to the network, reduce synchronization times and enable faster recovery, he added, adding that a specific date will be announced “soon”.

While the CEO was talking about when to expect further Cardano releases, he noted that from now on all dates related to Cardano will be announced by Aparna Jue, the company's product director.

However, he revealed that the Haskell-Shelley test network will be announced after Byron's restart. When that date is set, he added, Jue will reveal the final date range for the Shelley main network. Hoskinson noted that although there are currently only a few updates, the team does not want to deliver the new era without a high security check.

Cardano's scalability solution is coming soon

Hoskinson's most notable announcement was that of Hydra, the scalability solution to be used on Ouroboros, Cardano's proof-of-sake protocol.

The solution is the result of five years of research and will enable Cardano to accelerate transactions and smart contracts. However, he said Hydra will not be inter-operable with Tezos, EOS, or Ethereum 2.0. At the moment, only Cardano can use the solution on which applications can already be built. Hoskinson also addressed the current market downturn and urged the Cardano community to remain positive despite the drop in prices.

“In the event of the worst scenario regarding the markets and a global pandemic, we remain confident that crypto will do quite well”.

However, while he remained confident that the markets would eventually restart and the crypto space be strengthened, he found that there will be enormous volatility in the market that should not be taken lightly.

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