Projects Like Cardano ($ADA) Will 'Be Used by Billions', Says Charles Hoskinson
Cardano ($ADA) founder Charles Hoskinson has revealed in a blog post he believes that projects like the blockchain he works on will be “as ubiquitous as the internet and used by billions” in the future.
That type of adoption, he wrote, will take decades to be seen, all the while the project’s developers slowly move forward in pushing out new upgrades “instead of chasing hype and the latest cycle.”
In his post, Hoskinson wrote:
Our view is that these protocols will be as ubiquitous as the internet and be used by billions. This scale of adoption will take years to decades, not weeks to months, and won’t be a meme. Ultimately it’s the long game that matters.
The founder of Cardano, who’s also a co-founder of Ethereum, wrote that Cardano and projects like it are the “antithesis” of mentality associated with startup culture in which progress is achieved “at any personal cost” and with mentality associated with cryptoasset communities that keep pushing developers to do more for price changes.
Hoskinson noted that being a leader in the cryptocurrency space is “a brutal affair” as there is “really nothing like the 24/7 blast of information, scandals, new protocols, concepts ranging from NFTs and the metaverse to a constantly changing landscape.”
Cardano’s approach, it’s worth noting, has notably seemingly been paying off. As reported, the number of active addresses on its network quadrupled from October to November as on-chain activity picked up and transaction fees on the network dropped from $0.45 to $0.38 on average.
According to CryptoCompare’s recent Asset Report, in October there were 50,506 active addresses on the Cardano blockchain, while in November there were a total of 216,072 active addresses.
Similarly, the number of addresses on the Cardano network staking ADA has grown to surpass the one million mark even amid a cryptocurrency market downturn that saw the space lose over $400 billion in market capitalization. Earlier this month the network hit a milestone after processing 20 million transactions.
Hoskinson’s company Input Output Hong Kong (IOHK) has already started preparing for future attacks on the Cardano network by quantum-powered adversaries.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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