Cardano’s Prism Solution Will Compete With Microsoft: Hoskinson

According to Charles Hoskinson, Cardano’s prism solution will compete with some tech giants such as Microsoft because of the programming language that makes it possible to implement phases after the introduction of Shelley faster. In the latest Cardano coin news today, we take a closer look at the ADA solution.

With Cardano’s Prism dentity solution, IOHK wants to compete with major companies such as Microsoft. In an interview with Ryan Selkis, Charles Hoskinson, the inventor of Cardano and IOHK founder, explained the progress of the project and the challenges of the past few weeks including the future roadmap. As he noted, Cardano has a reputation building over the years, for taking a very long time to develop and making almost no progress.

Over the past two years, IOHK had a lot of issues as the strategy got overturned and the company went with Haskell, a new programming language that was very difficult to learn. However, as Hoskinson explained, the advantages of the decisions are becoming more apparent:

“But the reality is that all the things we were working on for the last 5 years are coming together all at once. Now we are in the situation where we can ship things in a matter of weeks that normally would have taken us month with the old code and processes. The other thing is we are starting to get a competitive advantage from Haskell. What people don’t understand about Haskell und functional programming is; yes, it is very hard and there’s a big barrier to entry, but you have to write a lot less code, so cases 5-10 times less code than C++ or Java.”

IOHK will also launch the new roadmap for the post-Shelley developments at the virtual summit for the launch of the Shelley upgrade. One of the topics will be how the platform can be used commercially. One product that Hoskinson pointed out was the Prism, a new solution that uses decentralized IDs and intended to compete with products from Microsoft:

“Like our identity product Prism. We gonna do a major demo at the summit in July and then we should give you guys a beautiful roadmap how we want to get it out in the market and compete with Microsoft and the other offerings, probably before the end of the year.

And what’s nice that is already used in production. We are using parts of that for the credentials system in Georgia and we are bidding on a farmers vouching system […] and it allows us to be very competitive in the permissioned ownership space which is where security tokens live and these other asset classes.”