We could almost describe the entirety of 2018 up to this point has been one prolonged bear attack on the cryptocurrency market. And that's no understatement, it's had a profoundly negative effect on several cryptocurrencies, seeing many of the giants of the field falling below a number of lower supports on a recurring basis.

Out of these, Cardano (ADA), hasn't been left out of this bearish storm, as it's seen its own developmental roll as the year has thundered on.

More recently, the CEO and Founder of IOHK, Charles Hoskinson, took the initiative to inform users about the upcoming 1.4 and Shelly updates which are forthcoming for the newer Cardano 1.4 Network.

Hoskinson had this to say to users:

“The update 1.4 for Cardano is coming along well and we’re in regression testing right now. We’ve had a few regressions but nothing significant is found yet and it’s a lot of new code. There has been a huge amount of refactoring on the core, and we’ve found new database solutions, so we’ve gone from lots of storage to little storage and become much more efficient.”

Known for his past (and current) experience as a skilled computer scientist, he had also shared a number of his thoughts about the new appointees which were inducted into the Cardano Foundation. The comments made by Hoskinson here come in the aftermath of the recent appointment of Pascal Schmid as the interim Chairman of the Foundation Council.

According to Hoskinson:

“What this means is that at the moment Pascal is the current custodian of the Foundation and will be in charge of the transition to reinvigorate and reconstruct the Foundation. There are a lot of things that have to be done between now and when the foundation can become effective as an entity.”

An official member of the IOHK, Hoskinson had also gone on to state that he would like to see IOHK and Emurgo working together in a closer state of collaboration, which may be an upcoming possibility in the next 60 days.

He went on to further add that it would be a truly encouraging sign to see diversity and community management with a higher level of grants, with this same amount of funding being allocated to many different organizations.

According to Hoskinson, these organizations can then be responsible for building Cardano communities all across the planet.

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