Yesterday, Michael Parsons resigned as the Chairman of the Cardano foundation. Parsons had come under fire from IOHK, Emurgo and the Cardano community for not doing enough to push Cardano forward. His resignation could have a positive impact on the future growth of Cardano (ADA). That’s because, while most investors know of the IOHK and Charles Hoskinson, the other arms working towards the development of Cardano are equally important. For instance, the Cardano foundation is tasked with pushing Cardano in the market, and that’s as equally important as the technical aspects of the project that IOHK is primarily focused on.
Therefore, with an ambitious person at the helm of the Cardano foundation, Cardano can make huge strides in terms of partnerships and listing on exchanges. Cardano is a powerful crypto that is making huge strides in terms of development. It has some revolutionary tech behind it such as Ouroboros, which is a scientifically proven proof-of-stake algorithm. Ouroboros allows Cardano to scale to millions of transactions per second, while not compromising on security and decentralization. These are features that if well marketed, could see the widespread adoption of Cardano in the market, especially by corporations that handle millions of transactions by the minute. It takes a strong team to help put these capabilities out there and drive up adoption.
Besides, Cardano development is not an easy thing. It requires dedication, not just in terms of monetary resources, but time as well. This can be seen in the recent training of IOHK developers on functional correctness, in an effort to ensure that everything works out right, for the development of a revolutionary product like Cardano (ADA).
It’s an indicator that the IOHK team needs to focus fully on technical development, and not take up the functions of the Cardano foundation. Charles had earlier stated that they could easily take up these roles if need be, but that is no longer necessary since Parsons is now out of the Cardano foundation. Charles and his team can now focus fully on what the IOHK is best at, and that’s working on the technical development of Cardano (ADA).
For instance, the team is currently working towards the Shelley release in Q1 of 2019. This is a big deal considering that it will decentralize Cardano, and enable investors to stake Cardano (ADA). There are so many other things that the Cardano team is working on, such as quantum resistance, which all require full dedication from the IOHK team, and will add a big deal to the value of Cardano, once they are completed.
Things are shaping up right for Cardano (ADA), now that the Cardano foundation team is re-organizing. It has been the weakest of the three organizations developing Cardano (ADA), and if the right people come in, maybe Cardano could see more partnerships, as well as, more listings on exchanges. One of the exchanges that all Cardano investors are watching out for is Coinbase. It is widely expected that once Cardano (ADA) is listed on Coinbase, its value will rise, due to the increased publicity that it will get from this exchange.