Cardano founder, Hoskinson has expressed great admiration for the blockchain, labeling it a foundation of trust for the crypto space.
Hoskinson Praises Cardano
American entrepreneur and founder of Cardano, Charles Hoskinson has publicly applauded Cardano, a decentralized public blockchain platform for its growth and development over the years. During the recently concluded Cardano Summit 2023 in Dubai, Hoskinson emphasized the critical role the network has played in advancing the crypto space and its journey as a leading blockchain in the industry.
He stated that Cardano’s origins were modest yet its robust vision has enabled the blockchain to make significant advances and progress in the crypto space since its inception.
Hoskinson described the network’s numerous achievements, stating that the blockchain has maintained a flawless track record characterized by uninterrupted daily operations for the last five years. He further solidified his admiration by titling the network as a “root of trust,” signifying the blockchain’s pivotal role as a dependable global anchor for the crypto space.
“The fact that Cardano has never failed in 5 years, it’s always been running 24 hours a day 7 days a week, it’s become effectively the root of trust of the entire cryptocurrency space there is no engine better-there is no code better than what we’ve re we’ve written,” Hoskinson stated.
Hoskinson’s endorsement of the blockchain comes at a time when the blockchain and its community are growing rapidly with new projects and developments. The price of Cardano’s native token ADA has also seen slight growth recently and many investors expect the cryptocurrency to begin a price recovery phase.
ADA continues campaign toward $4 | Source: ADAUSD on Tradingview.com
Founder Reveals New Framework
During the Cardano Summit 2023, Charles Hoskinson outlined a new framework for the ecosystem called Partner Chains.
“Partner chains are the next frontier for Cardano’s evolution! IOG unveils a revolutionary framework enabling independent, interoperable, layer 1 blockchain networks to thrive,” Input-Output revealed in an X (formerly Twitter) post.
According to Hoskinson, Partner Chains are a unique approach for developers and validators within the network to utilize the blockchain’s strengths and technological resources to build their uniquely optimized partner chains.
The new framework is said to deliver transformative solutions to how blockchains are launched, operated, and managed. Partner Chains also promise to solve major blockchain challenges like interoperability, security, tokenomics, and lock-ins.
Many Cardano community members are looking forward to the integration of the new framework. Midnight, a data protection-based blockchain, is already positioned to be the first partner chain to adopt the framework and enjoy its potential benefits.
Featured image from Binance, chart from Tradingview.com