In the latest YouTube video, Cardano network developer Charles Hoskinson claimed that he is not on board with the strange initiative of Silicon Valley about moving hurriedly ahead and wanting to make breakthroughs quickly. He pointed out that due to this mantra, the DeFi market lost around $10 billion in finances last year.
He also claimed that today every person with internet access could check facts and post comments on social media. However, the experts that have been working on the system are often ignored. He also said that the biggest amount of criminal activities are still performed by fiat currencies in the world since they are completely untraceable.
Cardano Network Aims to Become Fully Decentralized
Commenting on the future goals for the Cardano network, Hoskinson said in his video that the ultimate objective of the Cardano blockchain is to be fully decentralized and open-sourced. He also pointed out that at Github, Cardano was the number one project in terms of commits. GitHub is a social media platform for developers and programmers.
He also claimed that the network wants to move past the traditional hierarchical structure and evolve into the dApps savvy community. He compared the Cardano network with the Linux operating system and claimed that the developers should send at least one of their members to contribute to the Cardano development protocols.
Cardano network founder Charles Hoskinson added a new YouTube video talking about the DeFi sector growth. Recently, Cardano developers have been working on adding a DEX platform called SundaeSwap on the blockchain. Addressing the developers working on the network, he added that they need to adhere to a long-term plan.
He added that the type of software engineering required to elevate the blockchain requires a lot of technical expertise. Therefore, the developers need to stick with the long-term vision for the network. He also pointed out that in the next 5-10 years, many cryptocurrency projects will be left out through the process of natural selection.