- In the past week, the crypto social media universe has been in a heated debate over Cardano’s progress, sparked by a prediction Charles Hoskinson made a year ago.
- In a new update, Hoskinson has fired back, claiming that Cardano has achieved most of what he predicted and continues to grow faster than most of its rivals.
A year ago, Charles Hoskinson predicted that by the end of this month, Cardano would have flourished, with hundreds of assets and thousands of dApps. This has been the subject of scrutiny and debate in the cryptocurrency social media space, with both sides defending their points of view, as we reported. And now, Hoskinson has responded, shooting down the critics and claiming that they are just ignorant.
At the end of July last year, Hoskinson stated, “This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility.”
The Internet never forgets, and as such, Crypto Twitter revived the comments this week. Those who are not as fond of Cardano were quick to criticize, claiming that it has been a massive underperformer. The Cardano community defended the project fiercely.
Hoskinson has now weighed in in his latest update. “It’s kind of bizarre that the crypto media and people on Twitter have decided to make an issue out of a tweet where I predicted that there were going to be many assets and dApps on Cardano by end of July,” he stated.
Hoskinson, who was also one of the founders of Ethereum, believes that Cardano has achieved what he predicted it would.
To be honest, we actually have that kind of traction. There are tens of thousands of assets. Over $10 million worth of NFTs has been sold throughout the Cardano network. There are thousands of them issued, and all kinds of commercial activity there.
“You’re just ignorant if you think Cardano has failed” – Hoskinson
Hoskinson continued, “There’s enormous amounts of commercial interest, traction, community effort with Cardano…. All things considered, the ecosystem is quite healthy and viable.”
Since that time of the prediction last year, we’ve seen a tripling in the population size of Cardano and obviously a lot of value accumulation as well. We’re the number one staking network in the entire space, number one for commits (GitHub), and we have a humongous population in every social channel, from Reddit to Telegram.
Hoskinson also mentioned that Cardano has also made it into the Grayscale Trust. The institutional crypto investment company announced the addition of ADA to its Digital Large Cap Fund on July 2nd. ADA is now the third-largest holding, only behind Bitcoin and Ethereum.
Those who levy criticism at the project are either misinformed or malicious at this point. Cardano remains one of the fastest-growing, most stable, most mature and systematic cryptocurrency projects.
Hoskinson also gave an update on the progress that his team has achieved of late. On stablecoin research, the team will be releasing its algorithmic stablecoin paper on July 14. “Omega’s in progress, we already released the Mithril paper, we have a Hydra Pay paper which is just getting cleaned up and finalized and will come out soon,” he told the community.
Omega + Hydra + Mithril = GG
— Charles Hoskinson (@IOHK_Charles) May 23, 2021