• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: BREAKING: Ripple Scores Yet Another Win As Judge Torres Rejects SEC's Appeal Attempt
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Ripple Scores Yet Another Win As Judge Torres Rejects SEC's Appeal Attempt
Cardano

What Cardano’s Hoskinson Said About Terra: In The End Slow Wins

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Cardano
0

Inventor of Cardano and Input-Output Global (IOG) CEO, Charles Hoskinson, gave his opinion on the recent events related to the crash in the Terra Classic network, formally known as Terra. A collapse in the price of its native token LUNA caused the algorithmic stablecoin UST to deppeged from the U.S. dollar.

Related Reading | Cardano Activity Indicates Price May See Light At The End Of The Tunnel

The consequences have been catastrophic and continue to ripple across the crypto space. In a recent interview with CoinDesk, Hoskinson claimed the event highlighted the importance of taking time to develop a project before releasing it to users.

Otherwise, as the LUNA/UST crash seems to demonstrate, there is a higher risk for a product to become unsustainable. Hoskinson said the following on these events and the billions of dollars lost to hacks and other cyber attacks which have impacted crypto users since 2021:

if you move too quickly, as we’ve seen with Luna, and we’ve seen with $10.5 billion of hacks last year, you could actually get it to work until it doesn’t, and then when it doesn’t it’s a catastrophic failure and everybody loses their money.

Cardano could be the opposite in this case. The network has been constantly under development since its launch. Critics complain that this process might take too long.

Unlike other projects, Cardano took years before it was able to operate under a decentralized Proof-of-Stake (PoS) consensus protocol. In addition, it took several Hard Fork Combinator (HFC) events before the network implemented smart contract capabilities.

This adds to the critics that claim the network has been moving too slowly in the crypto space. As a response to these users, Hoskinson said IOG is “playing the long arc game”. Thus, he prefers to think about development in terms of years rather than months or weeks.

The CEO at IOG added:

We always say it’s not first, it’s best out of the gate. The people who are going to survive are those who are tested under stress and exhibit resiliency.

Better Safe Than Sorry? Cardano Inventor Bets On The Long Term

In that sense, Hoskinson said Cardano’s development progresses at a “slower” pace. However, he prefers this approach which contrasts with the rest of the crypto industry, in his opinion.

The CEO at IOG believes the space is incentivized to prioritize “speed over quality”. Thus, Hoskinson predicted that projects with a long-term vision and development will prevail over those focused on the short term.

Related Reading | Cardano Founder Says Yes, This Is A Bear Market

At the time of writing, ADA is one of the best-performing assets in the crypto top 10 by market cap. The cryptocurrency trades at $0.6 with a 12% and 17% profit in the last 24-hours and weekly chart, respectively.

Cardano ADA ADAUSDT
ADA with minor gains on short timeframes on the 4-hour chart. Source: ADAUSDT Tradingview
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Reynaldo Marquez

Reynaldo Marquez

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Related Posts

Cardano news ADA ADAUSDT ADA Price

Unreported Cardano News: ADA Whale Shares “Bullish” Trading Project

5 days ago
Cardano ADA bull

Crypto Analyst Puts ADA Price At $5, Here’s When

3 weeks ago
ADA

Analyst Says Cardano (ADA) Has Potential To Live In Future, Forecasts Massive Price Surge

3 weeks ago
Cardano

Cardano Activity-Related Metrics Light Up Despite Price Testing Lows

1 month ago
Cardano Charles Hoskinson

Here’s What Cardano’s Charles Hoskinson Believes Is Driving The SEC’s Crypto Crackdown

1 month ago
Cardano

Cardano (ADA) Has Finally Become King Of Crypto Market In This Metric

1 month ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Bullrun Forecast: 5 Cryptos Set for 2,500% Rise

    41 mins ago
  • Cardano (ADA) On-Chain Staking Launches on Another Crypto...

    6 hours ago
  • The Next Dogecoin? Scorpion Casino Token vs Wall Street...

    7 hours ago
  • Don’t Miss Out On What Could Be The Next...

    8 hours ago
  • PayPal’s Stablecoin Boosts Crypto Credibility; Ripple...

    24 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.