Saad Ullah
Cardano blockchain has reached a milestone with Input Output Global CEO Charles Hoskinson declaring that the original scaling roadmap is now complete, while additional projects like Hydra and Leios continue development amid funding discussions.
Cardano (ADA) Original Scaling Roadmap Reaches Completion
Input Output Global CEO Charles Hoskinson has made a significant announcement, claiming that Cardano has now been completed. To clarify this statement, Hoskinson explained that specifically, the scaling components outlined in the original roadmap have been accomplished, marking a major milestone for the blockchain project.
Currently, Input Output is working on additional enhancement projects beyond the initial roadmap. These include Hydra, a layer-2 scaling protocol designed to increase transaction throughput, and Leios, an ambitious layer-1 upgrade aimed at further improving the network's capabilities. However, Hoskinson noted that these projects are being developed "at risk," meaning without guaranteed funding.
"We are currently doing all the Leios and Hydra work at risk, whether we get paid or not. If we don't get funded, then we will finish it and leave for other opportunities," he stated, indicating that IOG would complete current development work but potentially exit the ecosystem if further funding isn't secured.
Cardano Initial Development Funding Already Utilized
When Cardano was first launched, Input Output Global was allocated 2.4 billion ADA tokens at genesis to fund the ecosystem's development. This substantial allocation was intended to support the project through its initial roadmap phases.
A social media user recently suggested that Cardano remained incomplete and called for an audit of the original funding allocation. Hoskinson responded by clarifying that the original development contract had actually expired back in 2020, indicating that the initial funding period had concluded as planned.
This clarification highlights the transition from the initial development phase, which was covered by the genesis allocation, to the current phase where ongoing development requires new funding mechanisms through the Cardano Treasury.
ADA Treasury Funding Becomes Point of Contention
Hoskinson has actively advocated for the community to approve the current funding proposal. He emphasized that the Cardano Treasury has "a huge stockpile of ADA," while warning that delays in funding decisions could potentially harm the ecosystem's continued development.
"We shouldn't expect perfection, nor squeeze the people who have been building our ecosystem for years. I want Cardano to win," Hoskinson stated earlier this week, appealing to the community's desire for the project's success.
The funding discussions have apparently become contentious, with Hoskinson expressing frustration that some community members are using the budget discussions as an opportunity to settle personal grievances. Some critics have argued against providing additional funding to Hoskinson, citing previous projects that didn't meet expectations, such as the Atala Prism initiative in Ethiopia that failed to achieve its intended goals.
Cardano Achievements and Community Governance
During his most recent ask-me-anything (AMA) session, Hoskinson acknowledged that Input Output had made "a lot of mistakes" throughout the development journey. However, he also highlighted Cardano's substantial achievements and current position in the cryptocurrency space.
"Today, right now, Cardano is an ecosystem worth around $25 billion…Millions of people in it. Thousands of dApps. It's in the top 10, and it's regarded as one of the greatest successes of the cryptocurrency space," he stated, emphasizing the project's significant growth and adoption despite challenges along the way.
Hoskinson suggested that some community members are "disgruntled" and attempting to "hijack the process in order to get even." Nevertheless, he emphasized that funding decisions ultimately rest with the community's delegated representatives (dReps), stating, "As a dRep, it's your decision. This is what decentralization basically means."
This situation illustrates the growing pains of transitioning to a truly community-governed blockchain, where funding decisions become increasingly decentralized and potentially contentious. The ongoing discussion around Treasury funding represents a critical test for Cardano's governance mechanisms as the project moves beyond its initial development phase into a community-driven future.
The funding debate comes at a pivotal moment for Cardano as it seeks to build upon its completed roadmap with advanced scaling solutions that could potentially enhance its competitive position among leading blockchain platforms.
Saad Ullah
