Cardano (ADA) doesn’t live on hype, says Charles Hoskinson. His project is a long-term enterprise involving many teams, technologies, and products worldwide.
In Short
- Charles Hoskinson calls Cardano an ‘antithesis’ to the mindset of people looking for great price valuations.
- Cardano builds protocols that could take decades to complete and use.
- The project has great potential, and billions of people worldwide will use Cardano.
The founder and current leader of Cardano (ADA), Charles Hoskinson, commented that the ephemeral emotions of the market are not influencing his project.
In a new blog post on Saturday, December 18, Charles Hoskinson shared his thoughts on Cardano and his journey in the cryptocurrency market. With more than ten years of experience in the industry, he is also known for being one of the co-founders of Ethereum (ETH).
About Cardano, the mathematician classifies him as an “antithesis” of the mentality of many investors and traders in the market, who only look for large price valuations:
“We have always chosen a systematic, patient, and refined process that goes from release to release, from launch to launch, rather than chasing the hype and the most recent cycle.”
Charles Hoskinson has remarked that Cardano supporters should not be concerned about ADA token price fluctuations. At the end of April, he had already asked the cryptocurrency community to calm down. He says that people need to focus on the project’s fundamentals. Now he claims that “what matters is the long game.”
Cardano can reach billions of people
In the text, Hoskinson says Cardano is building protocols that could take decades to finalize and use. But have the potential to be “as ubiquitous as the Internet” and could be adopted by billions of people worldwide.
Since the Alonzo upgrade allowed Cardano to support smart contracts, programmers are developing several projects on the blockchain. Some projects include decentralized exchanges, DApps, NFTs, and even a converter to migrate projects from the Ethereum network.
However, so far, no major protocol has been produced. But as Hoskinson states, the team responsible for the network prefers to take it slow and ensure they do everything in the best possible way. Rug Pulls, and other fraud types are common in other protocols where the source code and software architecture is not conveniently proven or tested. The damage to reputation and trust is not easy to forget for the users of these projects.
Another area that can benefit from the project is education. Cardano already has projects and partnerships in this area, mainly in Africa. Earlier, Charles Hoskinson stated that the world’s population that did not have access to the traditional financial (TradFi) and educational system was part of the target audience for his network.
The potential of the Metaverse
The mathematician commented on the challenges of being at the helm of a large project in the cryptocurrency market. Defining the performance of a crypto project is a complex task. According to him, with all his experience, keeping up with changes in this industry is often challenging.
However, he stressed that the world of cryptocurrencies is here to stay and will be “brilliant.” The Metaverse has the potential to be one of the largest areas in this sector, offering users a “huge category of products.”