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Cardano upgrade delays tied to ‘boring’ academic approach — CEO

Cardano upgrade delays tied to ‘boring’ academic approach — CEO

Cardano has received criticism for the delays in the rollout of features and network upgrades. However, Cardano Foundation CEO Frederick Gregaard finds this slower cadence to be a point of pride. He stated that the network is “boring” due to its academic approach during the recent Cardano Summit in Dubai. Gregaard emphasized that Cardano is based on academic research that has been shared globally. He expressed pride in the fact that other fast-moving blockchain platforms are already using the research and principles that Cardano has developed.

Cardano Foundation CEO Frederik Gregaard (right) with Cointelegraph Arabic reporter Hermi De Ramos (left) at the Cardano Summit in Dubai. Source: Cointelegraph

He also emphasized the significance of this trend in light of increasing artificial intelligence (AI) adoption, highlighting the need for computable data in the industry. Gregaard noted that Cardano is one of the oldest and largest projects, with a strong GitHub presence and a track record of not experiencing downtime for over 2000 days.

Despite the perceived “boring” nature of Cardano, recent updates such as Hydra and Mithril have resulted in increased network activity. Additionally, Cardano’s total value locked (TVL) has risen by 198% year-to-date, positioning it as the 15th largest network among those reviewed.

As the ecosystem prepares for the upcoming Voltaire, the final era of the Cardano roadmap that focuses on decentralized governance, Gregaard emphasized the importance of capturing the essence of the network’s vision, mission, and culture. He mentioned the relevance of on-chain and off-chain governance discussions and indicated that Cardano will continue conducting workshops to contribute to a constitutional document.

CIP-1694 abstract. Source: 1694.io

Gregaard also addressed the concept of tribalism in the crypto space, acknowledging the strong community behind Cardano. He believes that a large and engaged community is necessary for public, permissionless blockchains, and mentioned the addition of over 200,000 noncustodial wallets in a bear market as evidence of Cardano’s community growth.

Looking ahead, Gregaard outlined Cardano’s path toward becoming a stable network, highlighting the upcoming hard forks and the enactment of CIP-1694. He expects Cardano to be used by nation-states in various areas, including financial markets, international trade, and voting. He also anticipates the evolution of the network’s application landscape.

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