Cardano don’t need to compete with Ethereum: Charles Hoskinson

Cardano is only about developing things not hype
  • Hoskinson states that Cardano is not about price, but it is for development
  • Cardano’s ecosystem is at the point of celebration to success
  • Upcoming five to ten months seem to be fantastic for the progress of the ecosystem

Cardano is not about the price or hype, and it only aims to help development. On Monday, Charles Hoskinson, the chief executive officer of IOG, tweeted a video addressing the Cardano community. According to Hoskinson, Cardano is not about price and hype, instead it is about development. Additionally, he mentioned that if the fact does not appeal to someone, then there are ecosystems like Tron and dozens of others that do that.

Cardano is at the point of celebration

According to Hoskinson, success needs to be celebrated, and Carano is at the point of success. From about three years from where the ecosystem is, Hoskinson has been commercially running around to convince nations, states, prominent firms, writing pilots, and doing all kinds of things. After the struggle period, the ecosystem is now witnessing substantive progress. As the ecosystem has gained the fruit from millions of users, now it is the moment to celebrate.

Hoskinson has no concerns regarding Ethereum

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Several critics of Cardano have repeatedly accused it and its founders of lack of progress in recent years. The critics also have claimed that the network effect Ethereum has earned, as a first mover in the smart contract space, Cardano cannot catch it up. Addressing the critics, Hoskinson mentioned that it is easy to do decentralized finance (DeFi). Indeed, there is no comparison among 80,000 developers and 22.6 million developers. On the Ethereum blockchain, only 31% of the new dApps were deployed last year. The fact comes as the network costs 50 bucks for anything. 

Moreover, Hoskinson highlighted that he does not need to compete with a 96 years old karate person in a wheelchair. The IOG CEO also commented that Ethereum had established a small monopoly, but this effect means nothing.

Past shouldn’t be counted for measuring the progress

To comment regarding the ecosystem’s progress, Hoskinson mentioned that the coming five years to ten years are what matters. In the coming years, Cardano will be setting the stage for citizens in Uganda or Tanzania for being able to get a microloan P2P, without using a bank to do it. The latest facility is going to bring millions of users to the Cardano ecosystem.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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