top of page

Charles Hoskinson clarifies Cardano's (ADA) project's pace

Charles Hoskinson commented on the slow supply of decentralized projects and applications (DApps) available on the Cardano (ADA) network.

Cardano ADA
Charles Hoskinson clarifies Cardano's (ADA) project's pace. (Pic by Michael Förtsch on Unsplash)

In Short

  • Charles Hoskinson commented on the low pace of projects and DApps available in Cardano.

  • One project was released for Cardano users after four months of the Alonzo hard fork.

  • Earlier, Hoskinson stated that 20 to 30 projects are highly likely to be released to this year's first quarter to the public.

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 are highly likely to be launched this year's first quarter to the public.

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 end up paying 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 been a success, 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 current 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, experiencing delays concerning its major upgrade: Ethereum 2.0. Late last year, Vitalik Buterin stated that the ETH network would delay its initial roadmap.

  • Facebook
  • Instagram
  • TikTok
  • Twitter
  • LinkedIn
bottom of page