IOG Spills The Beans on Cardano’s Future Success

Updated: 12 December 2022

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Input Output Global (IOG), the company behind the development of the Cardano blockchain, has shared insights into the network’s future and what differentiates Cardano from the other blockchains. The company believes that one of the vital aspects of Cardano is its high level of decentralization.

IOG shares insights into Cardano’s future

The Chief Commercial Officer at Cardano, Jerry Fragiskatos, talked about Cardano’s future during an interview held at Scott Melker’s podcast. He noted that one of the unique features of Cardano is that it did not have a lot of insiders, given the distribution of ownership for ADA tokens.

Fragiskatos noted that most ADA holders were individuals, and there were a few whales and insiders. Moreover, none of the venture capitalists had a large share of ownership.

He added,

I think time will tell, and I think we’re taking the right approach. And I think we will be one of the ones that come out the other side of this, including some of the more you know, do things quickly and break fast.

He further predicted that Cardano would overcome the criticism and it would emerge as one of the survivors in the crypto space. The harsh bear market has affected the ADA token, dropping by 77% over the past year. However, Fragiskatos believes that ADA will survive like companies that survived after the dot.com bubble burst.

After Cardano introduced smart contracts last year, the network was touted as a potential Ethereum killer. Fragiskatos believes that just like Cardano, Ethereum would also likely survive.

On December 9, Olga Hryniuk, a staff at the IOG Marketing and Communications department, shared Cardano’s Weekly Report. The report showed that there were 108 projects already launched on the Cardano blockchain, while 1,151 projects were building on the blockchain. The network was so far recorded 55.3 million transactions.

Charles Hoskinson on Solana being a Cardano sidechain

Last week, the Solana and Cardano community engaged in a casual conversation on Twitter, with the two parties seeming to agree with the likelihood of Solana becoming a Cardano sidechain.

The discussion was ignited by a member of the Cardano community, who urged other members to vote on whether they would like to see Solana being a sidechain to the Cardano blockchain. The poll results showed that 80% of the voters agreed.

Cardano’s founder, Charles Hoskinson, seems to have gotten hold of the discussion, to which he participated by leaving a meme. Hoskinson did not show any serious plans of considering onboarding Solana as a Cardano sidechain, but he seemed to welcome the community suggestions.

Solana is also touted as a potential Ethereum killer due to the network’s keen focus on low costs and high transaction speeds. However, the network has faced several outages this year that have made the network look unreliable. Moreover, the demise of FTX and Alameda also dealt a blow to Solana, as San Bankman-Fried was a key investor.

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