Charles Hoskinson, the founder of Cardano, confidently stated that ADA, the main token of Cardano’s blockchain, could surpass top cryptocurrencies like Bitcoin and Ethereum.
Hoskinson’s statement, made during the eagerly awaited Rare Evo conference, has created a lot of buzz and discussions in the cryptocurrency world. People are excited and speculating about how digital assets might change in the future.
Cardano: Pioneering Decentralized Innovations
Since it started, Cardano has been all about introducing new ideas and working hard to create a decentralized digital future. One special thing about the platform is its strong focus on on-chain governance. This means that people from the community actively take part in making decisions.
During his keynote speech, Hoskinson stressed this commitment. He highlighted that Cardano aims to be more than just a cryptocurrency. He sees it as the foundation of a new kind of digital world—a place where trust and honesty are brought back to life.
Cardano’s Unique Path: A Vision of Decentralized Influence
At the core of Hoskinson’s forward-looking prediction is Cardano’s special dedication to on-chain governance. This fresh way of making decisions in a decentralized manner lets the community play a big role in shaping the network’s future.
Hoskinson stated, “This is our challenge, and this is why I believe Cardano might become the biggest cryptocurrency globally. I see it becoming more than just a cryptocurrency. It could be the foundation of a new digital society, a place where trust is rebuilt, shifting from ‘don’t be evil’ to ‘can’t be evil’.”
Cardano (ADA) is currently trading at $0.2591. Chart: TradingView
Hoskinson’s Positive Outlook for Cardano, and Evaluations of Bitcoin and Ethereum
While Hoskinson is hopeful about Cardano’s future, his keynote speech didn’t avoid discussing Bitcoin and Ethereum critically. He mentioned that Bitcoin’s design, unchanged for over 13 years since its start, might become a weakness over time.
Regarding Ethereum, he pointed out that its leaders don’t think on-chain governance is practical. Hoskinson disagreed with this idea, saying that as crypto platforms grow and involve millions of users, having some form of on-chain governance could be a smart advantage, not a problem.
Differing Opinions and Ongoing Discussion
While Hoskinson’s statement has received praise and excitement, there are still people in the cryptocurrency community who disagree.
Evan Van Ness, who is a well-known member of ConsenSys and supports Ethereum, criticized Cardano. He called it a “zombie chain” because it’s positioned below Base’s TVL (Total Value Locked).
It's been live for just a couple weeks, but @BuildOnBase has already flipped Cardano in TVL
(even new and immature) L2🚀
zombiechains 📉 pic.twitter.com/LOe0oGxRek— Evan Van Ness 🧉 (@evan_van_ness) August 24, 2023
This criticism isn’t the first time from Van Ness. He had previously highlighted about a year ago that Cardano seemed to have less transaction activity.
Whether ADA can truly rise to surpass Bitcoin and Ethereum is still uncertain. However, one thing is clear: the world of blockchain and digital assets is as ever-changing and unpredictable as the markets they mirror.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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