Charles Hoskinson recently came to YouTube to address the Cardano ecosystem’s rapid expansion and the concerns of the crypto community over the past year. Cardano’s founder stated that he is not the only one participating in making decisions because Cardano has a community that VCs are unfamiliar with.
Hoskinson noted that US dollars and other fiat currencies are utilized in massive financial crimes, while referring to venture capitalists as an arbitrary set of people who get to decide what’s genuine, particularly when it comes to the government’s position on cryptocurrencies. Hoskinson emphasizes Cardano’s careful and slow approach, stating that Silicon Valley’s ridiculous ethos of going fast and smashing things in crypto needs to be modified, citing the $10.5 billion loss in the DeFi market in 2021 as an example.
Hoskinson Response To Critics
Cardano‘s remarkable growth in the last year has prompted VCs, YouTubers, and podcasters to question the currency’s rapid ascent. However, in response to the critics, Hoskinson stated that Cardano had the most GitHub commits. In his video, he noted that the only reason a user should comment on the quality of their comments is to let them know if the comments are inaccurate, meaningless, or if there is a portion of the roadmap they are missing.
Cardano’s founder emphasized that the industry and Cardano must embrace the implications of rapid expansion, even if it is unexpected. According to Hoskinson, predicting the amount to which a $2.5 trillion business would grow is challenging. He believes it is best if the industry faces the consequences of growing so quickly, for better or worse. He also stated that the crypto ecosystem’s growth in 2022 may be slower than in the previous year.
Cardano Roadmap For 2022
Cardano will establish a permanent formal open-source project, according to Charles Hoskinson, who compares it to the Linux operating system. He expects that Cardano would move away from a hierarchical system and toward open-source DApps created by Cardano community members. Hoskinson discussed the DeFi market’s potential as well as Cardano’s limited involvement in the industry. He did add, however, that the modest resource investment will aid in the achievement of the Cardano goal.
Developers should stay dedicated to contributing to the Cardano protocol, according to Hoskinson. Developers, he believes, must encourage a long-term vision. In the long run, this small investment in resources will hasten the completion of the Cardano roadmap. He did, however, answer to VCs who questioned Cardano’s growth by stating that there is an engaged community.
While commenting about DeFi’s potentials, Hoskinson predicted that many DeFi projects would fail to stand the test of time. While predicting that there would be a mass extinction in space over the next decade, he also believes that developers and creators need to have a longer-term vision and foresight for the future.