Today, Charles Hoskinson has given a surprise AMA to the community, and it is clear that Cardano (ADA)’s technical development will move faster in 2019. According to him, one of the reasons why development has been slow in 2018 is because they were dealing with a codebase that didn’t have good documentation. That’s because the original engineers who were contracted to work on it had already left the IOHK.
However, in spite of this challenge, the IOHK team has been able to write new code, with proper documentation, and avoid the legacy issues that came with the old code. For instance, they completely rewrote the entire wallet code.
Going forward, it will be easier to roll out new features, and test them out with ease. One of the developments to look forward to in 2019, is the Shelley release, and Charles has assured the community that it will happen in Q1 of 2019. With the Shelley release, Cardano will become fully decentralized with the community fully involved in the project through staking pools.
However, the most important aspect to being able to develop faster is that most of the FUD around Cardano will disappear, and help drive new money into Cardano (ADA). One of the biggest negative sides to Cardano (ADA) that is constantly given attention is that the development process is too slow. The argument usually is that, by the time Cardano is done working on its roadmap, other projects will have gained an edge in the market, and negatively impact on Cardano’s value. Now that the process is getting faster, and new developments can hit the market faster, this FUD will no longer have basis. This is likely to drive up demand for Cardano (ADA), since it can boost sentiment around Cardano (ADA), a key attribute to driving up demand.
This move by the IOHK also signals to the competence of IOHK. That’s because, the fact that they have managed to build a new codebase from scratch, and stay within its roadmap is a sign of their technical competence. Technical competence is part of what makes for the fundamental value of a cryptocurrency. When the team is competent, it means that they can deliver a technically sound project, which is key to adoption.
In the case of Cardano (ADA), this is a project that is aiming to change the change the financial landscape of the third world. It also offers a platform through which, developers can create systems on a decentralized platform that is scalable, efficient and fast. Cardano is one of the projects that have what it takes to change the world. Once its roadmap is completed in 2020, this could be one of the most important projects in the decentralized ecosystem.
On the basis of its use cases, and a highly competent team, this is easily one of the most undervalued cryptos in the market, when trading at 3 cents. However, if the recent pump is anything to go by, Cardano could emerge as one of the most valuable projects in the long-run.