$ADA: Charles Hoskinson Says the ‘Massive’ Cardano Treasury Is ‘Only Going To Grow’
On Tuesday (May 10), Charles Hoskinson, who is Co-Founder and CEO of Input Output Global (aka “IOG”, formerly known as “IOHK”), the company responsible for Cardano’s research and development, provided some reassuring news for $ADA HODLers.
Earlier today, Sebastien Guillemot, who is the CTO of blockchain company dcSpark — as well as the former VP of Engineering & Cardano Product Manager at EMURGO — reminded his followers that thanks to Cardano’s “massive treasury” startups such as dcSpark “can continue to build tooling” for Cardano. The IOG agreed with this assessment and said that Cardano’s treasury is “only going to grow.”
In case you are wondering what dcSpark does, according to its development team, the main goals are to:
- “Extend Blockchain Protocol Layers”
- “Implement First-Class Ecosystem Tooling”
- “Develop and Release User-Facing Apps”
The firm was co-founded in April 2021 by Nicolas Arqueros, Sebastien Guillemot and Robert Kornacki.
dcSpark is best-known in the Cardano community for its sidechain project Milkomeda. On March 28, the Milkomeda Foundation has announced the launch of Milkomeda C1, which “enables Ethereum dApps to be deployed in the Cardano ecosystem.” Furthermore, the Milkomeda project promises in future to deliver interoperability between Cardano and other layer one (“L1)”) blockchains, such as Solana.
On 2 August 2021, the dcSpark CEO published a blog post to explain why his company builds on Cardano.
He started by saying that Cardano provides it users with “a full fledged PoS system at their disposal which overcomes many of the usability pitfalls other PoS chains struggle with.”
Arqueros then said since Cardano’s mainnet went live in 2017, “the network has gained a significant amount of user interest, helping to make Cardano “one of the top crypto projects in terms of marketcap” and “over 2100 stakepools”, which makes it “both one of the most decentralized blockchains in addition to one of the most popular.”
Next, he explained why the Extended UTXO (EUTXO) model used by the Cardano ledger, which is an extension of Bitcoin’s UTXO model, is superior to the conceptually simpler account-based model used by Ethereum and most other smart contract platforms.
And finally, Arqueros mentioned that “what sets Cardano apart is its self-sustainable mechanism for supporting ecosystem growth: a decentralized DAO called Catalyst.”
Disclaimer
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