— Charles Hoskinson (@IOHK_Charles) June 30, 2022
Hoskinson Says Bear Markets Are for Building
Despite the negative effects of bear markets on crypto prices, Hoskinson said the period presents the perfect opportunity to build.
“Bear market is a period when everybody gets more collaborative. It is when more people are willing to join and work with you,” Hoskinson was quoted as saying in a Twitter live video.
The Cardano exec stated that the IOG team will take advantage of the ongoing bear market to carry out important upgrades that will make the popular blockchain project stronger.
IOG’s Major Focus
Hoskinson shared some details of some of the things the IOG team is focused on at the moment and at the top of the list is its flagship upgrade, Vasil Hard Fork Combinator (HFC).
According to Hoskinson, the Vasil tesnet will be launched on July 3, 2022, and it will be followed by a mainnet launch by the end of July.
He noted that Vasil has been the most complicated Hard Fork Cardano has built since its inception. Hoskinson added that the team initially postponed Vasil’s mainnet launch earlier this month because it could not afford to make any mistakes like other crypto projects, especially Terra.
After the Vasil mainnet launch, the Cardano team will concentrate more on four development tracks, such as Shirley, Goguen, Basho, as well as Volataire.
The four development tracks run concurrently and will further introduce better features and improvements to the Cardano network in the near future.
Hoskinson noted that many of the features that will be introduced by these four development tracks will go live when the Vasil upgrade is finally launched by the end of next month.
Cardano Founder Hails Community Members
Hoskinson did not fail to acknowledge the resilience and support from the Cardano community as he remained optimistic about their support for the project, saying:
“One thing that remains constant is that bulls or bear, the Cardano community is here to stay.”