Cardano, IOHK

Lately, there has been lots of criticism for the IOHK due to the delay in releasing Shelley, and the new Cardano roadmap. So much is the nagging that, Charles Hoskinson is sharing memes with the message, “it will be ready when it’s ready”.  The pressure stems from the fact that, the IOHK had promised that Shelley would be out in Q1 of 2019. While the IOHK may be at fault for giving deadlines that it can’t meet, the community could be missing the point too.

Most people pressuring for Shelley are not really doing so for the tech, it’s for the ROI. The 2017 rally brought into crypto, investors with a very short-term mindset. Lots of people expect that Shelley will propel Cardano’s price, and give them instant wealth. However, this short-term approach will make not make anyone rich after all. If the IOHK were to rush and release a half-baked product that doesn’t work as expected, then any pump would be followed by a dump of epic proportions. That’s because, the IOHK has always positioned Cardano as a project that is built on the science philosophy.

As such, after more than a year of development, if whatever they release to market doesn’t match up to that rhetoric, Cardano would be dead on arrival. The ROI that investors are chasing so much would turn into a pipe dream.  As such, it would be better off waiting until everything works as it’s supposed to work. In fact, the whole idea of timelines cast in stone should be done away with. It’s better that the team works without pressure and come up with something that can help Cardano (ADA)  rival Ethereum (ETH) and the many other platform blockchains that are all angling for the smart contracts market.

Besides, there is no point in rushing since the market at this point is sluggish at best. After the massive selloff in 2018, this year could experience sideways movements all through the year, as buyers slowly return to the market. In this environment, no news can drive up the price in a manner that replicates 2017. If anything, most cryptos seem to have become immune to news at this point – both good and bad news. In essence, even if Shelley were to be released soon, chances are that the potential gains would be minimal. It would probably be a long candle to $0.10, followed by a sell-off due to lack of overall market momentum.

As such, since there are no potential benefits in terms of ROI at this point, it would be best to let the team take as much time as it needs to get things done. Coding is not easy, especially for such a complex project. As Tom Cargill once said, “The first 90 percent of the code accounts for the first 90 percent of the development time. The remaining 10 percent of the code accounts for the other 90 percent of the development time.” Shelley could be in the remaining 10% stage, and it’s taking a huge amount of time to get it right.


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