Sometime back, Charles Hoskinson said something to the effect that he would like to see Cardano (ADA) become the first trillion dollar crypto. And true to this statement, the team is working on building a crypto that is based on research and scientific philosophy for efficient functionality. It is on this basis that the IOHK team is now training all their developers on ensuring “functional correctness” when using the Haskell programming language.
According to an IOHK blog article titled, “functional correctness with the Haskell masters”, the Cardano team intends to carry out the training across different geographical locations. They have already done it in Germany. The training is being done, in collaboration with John Hughes, one of the creators of the Haskell language. Once this training is complete, all IOHK developers who use Haskell will be better versed in using the different Haskell tools, in an environment as complex as Cardano. This is quite clear in the excerpt below.
“Every Haskell developer has heard of QuickCheck and understands the basic ideas, but in complex real-world programs like Cardano, it is sometimes not so easy to use the tool properly. It was therefore great to have the intricacies and finer points explained by John himself, who has been using QuickCheck for 20 years and has worked with many industries, including web services (Riak, Dropbox and LevelDB), chat servers (Ejabberd), online purchasing (Dets), automotive (Autosar specification), and telecommunications (MediaProxy, Ericsson and Motorola). He helps find bugs and guarantee correctness every day. Given John’s experience, the training participants were able to spend about half of their time learning the finer points of QuickCheck from the master himself. It was tremendous fun enjoying John’s obvious enthusiasm for, and deep knowledge of, the subject. The rest of the session was dedicated to understanding the link between formal specifications, written in a mathematical style, and Haskell implementations.”
This training is a welcome validation to the serious of the Cardano (ADA) team in building what could emerge as a trillion dollar crypto. So far, most of the advances they have made all point to their adherence to science. For instance, through extensive research, they have created the first verified POS algorithm that has the same security capabilities as bitcoin’s POW. This is just one of the many breakthrough functionalities that the IOHK team has created for the Cardano project.
Clearly, once the Cardano roadmap is complete, there is no doubt that the value of this crypto will skyrocket. That’s because it has what it takes to gain in adoption in key industries including the finance industry. It stands to gain in adoption because smart contracts written on Cardano are guaranteed to be correct, secure, and are designed to scale without any issues, irrespective of the number of transactions running on it.
It is without a doubt on a trajectory to becoming a trillion dollar crypto. But is such a valuation practical for Cardano? Well pretty much so? That’s because its use case is so diverse that it can eat up into the market share of most of the rest of the market, just like bitcoin (BTC) currently dominates the market at the moment. Essentially, Cardano has what it takes to dethrone BTC from the top position, once the IOHK completes most of what they are working on. It could be the first crypto that not only reorganizes how corporations run their operations but governments as well. It’s a project worth exploring for long-term investors.
