Charles Hoskinson: crypto needs a 'WiFi or Bluetooth' moment

30 Mar, 2019
by Joeri Cant
News
Charles Hoskinson: crypto needs a 'WiFi or Bluetooth' moment

The founder of Cardano, Charles Hoskinson, recently stated that the cryptocurrency industry was looking for its own 'WiFi or a Bluetooth' moment. 

According to Ambcrypto, the founder of Cardano development team IOHK, drew parallels between cryptocurrency and its underlying technology’s revolution to existing technologies like WiFi and Bluetooth. He further explained said that the cryptocurrency industry is not on the same level yet.

The IOHK CEO said that the world was being a witness to standards that were being set that will eventually enable the propagation of information and value systems that are not just limited to cryptocurrencies like Bitcoin, Ethereum, and Cardano, but also to traditional systems like bank accounts.

'Consumers kind of have gotten used to this idea that when they pull out their phone ー if they are in Korea, Japan, South Africa, or here in America – that their phone will just connect to the WiFi network. But there’s no reason that should be true, that was only due to the hard work of an entire industry', Hoskinson said.

Read more: Bithumb experiences another major hack, 3M of EOS & 20M of XRP lost

Chepicap recently reported that Cardano had successfully released its 1.5 mainnet which marked a big step towards proof-of-stake consensus. The update also brings a number of optimizations mainly focused around the crypto wallet Daedalus.

Given that Cardano 1.5 is technically a hard fork, the team reported that the update took place in a smooth and automatic way because this was a planned protocol upgrade whereby all parties of the current federated system have agreed to the change.

The tenth largest digital currency is currently trading at $0.069, showing a loss of almost -1%, with a market cap of $1.81 billion. The coin registered a 24-hour trading volume of $108 million.

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