Charles Hoskinson, the CEO of IOG (Input Output Global), got a win over a bet of $50,000 with Polymarket for Cardano’s on-time launch of smart contracts. The acquired amount will directly be given to a sort of charity that suits Hoskinson. In the scenario of IOG’s historical irregularity in dealing with the rollout deadlines, a few people had argued about the rollout of the smart contracts on the day of the deadline. However, in late Sunday evening, the launch of Alonzo’s smart contracts was carried out officially.
Cardano concerning the scientific method
It is famously known that the scientific method of Cardano concentrates on iterative testing, accountability, and repeatable processes. Although that is considered to be well and good, the snag is that it often causes slow progress. This was witnessed in the recent year when “IOG” was in between its process of rolling out the previous Shelly phase. A continuous delay in the deadlines had become the target of a lot of criticism noting that Cardano was entirely talkative without doing an action.
On several occasions, Hoskinson spoke in favour of the scientific approach in constructing blockchains. He stated that his preference is to handle things appropriately without letting them get adverse enough to be amended next time. Hoskinson, while giving his remarks over it, mentioned that this could be considered a responsible and mature way of evading any system failures, which can, sooner or later, be advantageous for preventing potential losses. He also compared this approach with the experiential approach of Ethereum and explained that there is a little bit of immaturity in such proceedings of Ethereum network as the results of the things done by Cardano network are better and assured not to fail.
The response of Polymarket
Polymarket claims for itself to be a platform for information markets, permitting the consumers to make a trade on the top extremely-discussed subjects (e.g. politics, coronavirus, current affairs, etc.). By the way, it operates on the blockchain of Ethereum. After Polymarket lost the bet, it complied with the rule and nicely acknowledged being wrong about Cardano’s smart contracts for thinking them to be delayed as usual. Hoskinson opted for the “Magic-Yarn-Project”, which assists the children struggling against cancer by producing character wigs for covering hair loss caused by chemotherapy treatment.
Moreover, the Polygon co-founder “Sandeep Nailwal” also participated in the bet stating that Hoskinson’s company would fail to fulfil its commitment. He betted for an amount of $20,000 wager. Despite the continuous urges of Hoskinson, Nailwal has not yet responded to this.