Charles Hoskinson commented on the slow supply of decentralized projects and applications (DApps) available on the Cardano (ADA) network.
Charles Hoskinson clarifies Cardano’s (ADA) project’s pace. In an interview with Crypto Capital Venture on Tuesday, January 11, the CEO of Input Output Hong Kong (IOHK), the organization responsible for Cardano, said he was pleased with the achievements so far. However, much of the crypto community does not share the mathematician’s sentiments. The market was optimistic about Cardano after the Alonzo hard fork, implemented in September, symbolized the network’s entry into the DeFi world.
Since then, several projects have been announced, but only one is available to the network’s users: the decentralized exchange MuesliSwap, launched in early 2022. Previously, Hoskinson stated that 20 to 30 projects would likely be launched to the public in this year’s first quarter.
However, with each passing day, more users are skeptical that Cardano can compete with other blockchains, such as Ethereum (ETH) and Binance Smart Chain (BSC), which already have dozens of DApps and protocols.
Valuing achievements as a whole
Hoskinson noted that most people pay too much attention to “the small picture” without seeing the picture as a whole. According to him, this overshadows past accomplishments. On more than one occasion, Cardano’s leader has used his media channels to calm investors about the falling price of the ADA token, stating that the project’s primary focus is long-term.
Cardano’s biggest goal is to use blockchain technology to improve the world and people’s lives. He further noted that MuesliSwap had succeeded, ranking the Decentralized Exchange (DEX) among the top 10 projects. Hoskinson also said that his network had become a benchmark in staking. The list of Cardano DEXes is steadily growing.
Ethereum comparison
Despite being optimistic, the developer admitted that some mistakes made during Cardano’s journey caused the delays. The search for new tactics and modes of operation and development may have annoyed some users, but they were important in making Cardano what it is today.
He even compared his project to Ethereum, which is experiencing delays concerning its major upgrade: Ethereum 2.0. Late last year, Vitalik Buterin stated that the ETH network would delay its initial roadmap.