10.01.18 - A Cardano development update from Charles Hoskinson, co-founder and CEO of IOHK

A joint effort from myself and the legend @tom.kelly :sunglasses:


awesome vision, awesome job, keep up the good work. And don’t let me lose any ada! i too have some stuck on binance.




In total how much did it all cost and how many units do u have :slight_smile:

2,300 ADA. The desire, for a multitude of reasons, is to move 80% off Binance to a wallet. No trading with ADA; it’s buy and hold. That was the initial plan and it’s now under review…

Basic stuff. I am appalled that this one mission critical operation, and I might add, exclusive user interaction, is broken. At what appears to be several levels.

Time to slow down the future vision-making and ensure the product released is working.


Generally, programmers are a self-motivating bunch and they don’t need much oversight to get things done. The issue with ‘getting back to base’ w/IOHK is that they have no one base where all their programmers are - I’m pretty sure most are telecommuting and conferencing in for meetings. This means that Charles can run things remotely, checking status, unblocking people who are blocked, and providing direction as well as setting priorities. I doubt Charles has much time to do any hands on coding.

With that said, makes me wonder how much time is he actually putting into managing versus selling Cardano… If he can’t run the day to day affairs - which is the job of the CEO - then delegating this role to someone else might be a better idea, perhaps his alter ego, Jeremy. Or perhaps Jeremy is already taking on that role - I’m not sure.

I’m mostly in agreement with your sentiments though - this is a -very- -very- fragile time for Cardano, and LASER focus is required to deliver on the cleanup of Byron and the upcoming Shelley.

Not to jinx or anything, but most tech projects will fail because of non-technical reasons… like continuously blowing estimates/deadlines, lack of leadership/oversight, non-frugal attitudes like spending money on 60" TVs, lambos, company vacations, outings, etc, and basically lack of integrity at the top, e.g. Charles starts doing drugs, pursuing hookers, gambling, instead of focusing on his work… it will inevitably show up elsewhere in the company. At that point, they become vulnerable, start making more mistakes, and it all snowballs to hell… No amount of money is going to lift someone out of a hole that they themselves keep digging deeper and deeper.

I don’t doubt the tech is sound. I am only apprehensive about the delivery and gaining momentum at this point in time.


Thank you for the large information on upcoming progress …
looking forward to the cold storage …
greetings from Lisbon …

1 Like

I would argue that the openness structure of the code itself , would show that for all futures, the flexibility and openness (secured) power of the blockchain itself will attract buyers… what you see to the extent of the wallet problems and things like that at the moment, are being solved at their market rate; The fact that someone down the road is opening a huge betting market for example , does not mean that 5 years down the road, they dont lose their customers when, Ada offers to do that for 10-50% less and absorbs whatever value proposition that it can…

The extent that valid and secure truth is vaporware, I think at the moment, is the extent that a lot of cardanos value is extrinsic/speculative…

Real Linux users can build their own programs or use a tutorial , they dont necessarily have a special demand on the devs’ time.

The value of functional use of the crypto currency in day to day life is only barely starting to be explored. The fact that Ada USD futures are being traded and some of the first ATMs are coming out in physical locations are indicate the reality of the use case scenario in the immediate future. People who sit at their computer and PayPal their friend or business partner , or , use their altcoin market, are a very small small proportion of the world population.

And the more (slowly) the coin develops , the more opportunity for democracy of access, and help FOR the stakeholders. Like one poster said , they would tell their grandma to buy Ada… I wouldn’t necessarily , because old people may have to factor in death or fixed asset pool mortality rates … But i think the case can safely be said there is no real “bad” time for the coin … I am a small fry, and very risk tolerant , but I hold Ada at least at 100% of my AA at this time, even sacrificing other potentially exponential gains, because the scope of the project literally is most future accepting. That said , I think the speculative plays with Ada are more complex and are not what many people see them as. … and as such when I desire to engage in more speculation, I will maybe buy agi coin or alphabet, or some other short running daap that could be absorbed or improved on by Ada .

Just my 2 cents , idk.


Charles thanks for your honesty and taking the time to let the community know what is happening behind the scenes. I believe in the project 100% and I believe in you.


ADA . Elegant. Excellence. A strive for perfection.


Thanks a lot for the update!
And really appreciate the developer teams for their dedication and hard work! Thanks a lot to all of you!

1 Like

Another great interview.

1 Like

Hello everybody,

First, I would like to mention that I am 100 % convinced about cryptocurrencies and the Cardano Project.

Reading/listening Charles’ message below (thanks a lot for all infos/update), some aspects kind of irritate me.

  1. IOHk / big Cardano stakeholders / Cardano Foundation are seating on millions of USD of fresh funds and we talk about hiring a couple of developers here and there (at the end of the video)? In my humble opinion, Cardano/IOHK Team needs to massively invest to get a pace that will better follow the speed of the cryptocurrency wave. I was expecting to hear about a manpower plan of hundreds of individuals and not “a couple of guys” and 1 (or 2) partnerships. For a project/company that is expected to play a crucial role in changing the currency market, hiring a couple of guys sounds like a joke for me, mainly for the resources that are available.

  2. Saying that because Cardano team was on vacation during Christmas’s time some extra efforts had to be put in place to assist requests from Bittrex and Binance is not just not acceptable. It sounds like a 21 000 000 000 USD worth company rely on a couple of guys to have the business running. Come on !! The real world business like transport (ships, flights, etc.), hospitals, internet, Amazon, Uber, etc. do not stop because is holidays; and they deploy all necessary resource to insure it. We need to realize that cryptocurrencies have to fight for a place in the real world, challenging Banks, finance establishment, etc. and we cannot have this kind of amateurism (my opinion). A blockchain and all its ecosystem and related services cannot rely “on a couple of guys”, it does not sound serious.

  3. Nothing is mentioned about how to give Cardano more visibility (Marketing Plan or something similar). I think we need to further ‘’connect’’ with people and ADA visibility is going to be essential

Bottom-line, my point here is to say: guys, Cardano is not just a nice cryptocurrecy project conducted for a devoted community….is a big &%%^#$$# business and it deserves to be treated as such ! Cardano needs to operate and be useful for real people; and everybody is expecting results.

At some point, I feel that there is a risk of a “Mindset Circle” from the key stakeholders/Managers of this project. A more “business” or “real world” reflexes from these stakeholders I think will be helpful to propel Cardano to the place that everybody is expecting. My three examples above illustrate the gap I do believe exist, to certain extend, between a “Rose-colored IT project approach” vs “business approach”.

My only hope with this message is that, by sharing my thoughts, someone will enrich his perspective on this matter (or not :slight_smile:)

Thank you. Best regards



I agree with all you said in 1 and 2 but I have some comments regarding the 3rd point.

Right now and until Shelley, the network is still centralised in a few servers and as we all know it has its technical limits. This means longer queueing and processing times for the transactions to go through the Cardano blockchain. Especially since the TPS (Transaction per second) are deliberately set to 7 by the Cardano developers. We already can see a big difference with October transaction times as there are more and more users using the network.

I believe that the marketing button should definitely be activated at some point, however right now, it is clear that Cardano is not ready. One step at a time, so that Cardano can have full control of its growth. That’s probably the smart thing to do and a sign of maturity and experience.

Cardano is not Ethereum who is trying to repair its engine while the vehicle is being driven on the highway at full speed.

When the Shelley Era will start and when more and more nodes will be born, the network will achieve its full decentralisation and will then be ready to absorb any new influx of users, and then yes, marketing should definitely be activated.

That is only my humble opinion and I might be completely wrong.


Hello Pierre,

Thank you for your clarifications. If the network is still not fully ready to deal with massive transactions, I am totally agree to hold the Marketing plan (or promotional activities at large) to a bare minimum…

Thanks again for your thoughts !

Best regards



Not trying to be a conveyor of bearish sentiment at all Diego, but, comparing cardano to a 20bn corporation is a large stretch , they may both have the same on a ledger somewhere , but one resides mostly in invention and development space and a regular publicly traded entity of this size would be doing much more as you say, ‘operations’ management … the way in which Ada is seemingly “slow” to develop, is much less slow when you compare it say, to other competing math innovations or to other competing security innovations.

There is really not much to compare Ada to in the entire world of enterprise, because it is new and unique, and so it should justly be developed as safely as possible… right now the devs are looking and coding the future … in the future, they will be looking after and coding the operations … as well.

So I don’t think it’s fair to compare them to a global logistics company or even any large company …

But we all know how you feel because we all love Ada , or we wouldn’t be here. :slight_smile:

I agree.
Cardano no marketing.
Why Cardano no marketing?
Please Cardano marketing.

Thank you,well said. You can’t start booking a big luxury hotel while construction is still going on.


My guess is they will start their marketing effort when they have a solid MVP, which is actually a good thing. Imagine that they had marketed Cardano from the start or even now when there are still some issues with the wallet and exchanges that need to be resolved.

If the Shelley update rolls out smoothly it would be the best time to start marketing as they would be marketing a working and more valuable product. This would also allow them to market on more specific aspects of what cardano is actually capable of at the time of marketing instead of promising what it would be capable of.

You wouldn’t want a car manufacturer who markets a car that they are going to make without showing it drives smoothly, even if it’s still in early development.

Just my 0.2 :ada:.

1 Like

Hi Accelerandant

Thank you for your time in replying my message.

Sorry if I took the wrong examples while comparing ADA with other companies. I do understand that the focus now is developing ADA (Safe, etc) and not the ‘’operations’’.

My key point was to highlight the fact that ADA has to make its way to the ‘’real/business’’ world where tough rules and practices prevail, and the ADA Team needs to be aware and prepared for that. I am just the messenger :slight_smile: