Charles Hoskinson won a $50,000 bet with Polymarket on Cardano launching smart agreements on time. He is the founder of Cardano and co-founder of Ethereum. The money will be donated to a charity of Hoskinson’s choosing. Some had questioned whether smart agreements would be online on the due date day, given IOG’s inconsistent experience with conference rollout due dates. Nonetheless, late Sunday night, Alonzo smart agreements were formally announced.
So since @PolymarketHQ lost, they have to donate $50,000 to the charity of my choice. I thought about it and found a small one with a really good heart https://t.co/dIgeqCrEuK
— Charles Hoskinson (@IOHK_Charles) September 13, 2021
Cardano’s clinical approach
Cardano’s “scientific method,” according to common belief, emphasizes accountability, repeatable procedures, and iterative screening. While this is all well and good, the downside is that development is often slow. This was discovered in 2015, while IOG was still in the process of launching the Shelley stage. Delayed due dates prompted a lot of criticism, implying that Cardano was all talk but no action.
Hoskinson has spoken about the scientific method for creating blockchains on numerous occasions. He claimed that his concern is based on getting things properly the first time. Hoskinson recently said that this is the completely mature and accountable technique to eliminate system failure. In the long run, this benefits users in terms of preventing loss.
Hoskinson says, “I just happen to believe that the way we do things is a little more mature and responsible because it results in a higher level of certainty that the systems we develop will not fail.”
Polymarket describes itself as a “global information markets platform that allows you to trade on the world’s most hotly contested topics (e.g., coronavirus, politics, current events, and so on).” It is, by the way, based on the Ethereum blockchain. Polymarket made good on the pledge after losing the wager with Hoskinson and readily recognized they were wrong about smart agreements on Cardano not launching on schedule.
Hoskinson chose the Magic Yarn Project, which helps children with cancer by making character wigs to cover hair loss caused by chemotherapy. That isn’t all, though. Sandeep Nailwal, a co-founder of Polygon, also staked a bet that Cardano would fail. This time, the stakes are $20,000. Although Hoskinson has triggered Nailwal, he has stopped working to react till now.
Yesterday @Cardano monumentally launched Smart Contracts & $ADA believers won >$1m on https://t.co/24cV56AYzg
At Polymarket, we believe in giving credit where it’s due & sticking to our word. We stand corrected & donated $50k on behalf of @IOHK_Charles & the Cardano Community. https://t.co/0MfIUh9zZm pic.twitter.com/TqMLlCzEDh
— Polymarket (@PolymarketHQ) September 13, 2021
If you find this article informative then do not forget to share it with your friends and family!
Also read: Litecoin: Everything you need to know