Founder Charles Hoskinson confirmed Cardano's initial blockchain phase completion, but future plans are in question due to lack of funding.
Completion of Cardano's Initial Phase
Charles Hoskinson announced the completion of Cardano's initial phase via social media. He noted that the primary roadmap goals, especially scalability, have been met. However, further development of the platform remains questionable. Specifically, Hoskinson mentioned that work on the Hydra and Leios protocols is being undertaken at significant financial risk, as IOG currently self-funds these projects.
Funding and Governance Debates
Since Cardano's inception, IOG was granted 2.4 billion ADA to support the ecosystem, yet this allocation was tied to an original contract that expired in 2020. This historical detail has sparked spirited discussions within the community as some critics question whether Cardano has indeed completed its path. Hoskinson emphasizes that IOG's current contributions far exceed initial commitments.
Future Prospects for Cardano
The future of Cardano will depend on decisions made by the community within its decentralized governance framework. Hoskinson highlighted the importance of approving the budget to avoid delays, emphasizing that the Cardano Treasury holds significant reserves. At the same time, he expressed concern that funding discussions have turned into a arena for personal grievances within the community.
Cardano has completed its initial phase; however, further development and system upgrades rely on funding and community support. The decisions made by participants could greatly influence the ecosystem's future.
