InstaForex

July 6, 2021

Cardano (ADA) Failed? This is Charles Honskinson's answer

 A year ago during the launch of the Shelley di Cardano (ADA) update, its founder Charles Hoskinson was confident the network would accommodate hundreds of tokens and thousands of dApps.


However Nugget’s News pioneer Alex Saunders denied the ability, taking at least 5 years to achieve Hoskinson’s ambitions.


The individual once again criticized Cardano’s development in a recent tweet yesterday, noting the Ethereum network is far more advanced than its competitors.


One year later & still no:

-smart contracts

-erc20 converter

-100s tokens

-1000s dApps

Nothing against @IOHK_Charles, I advise @Cardano projects, own $ ADA & support all. But people need to realize network effects put $ ETH 100x ahead of competitors. ⌛️🇹🇿🇪🇹https: //t.co/fyzxA7uex9 pic.twitter.com/XWd75rGJdL


- Alex Saunders 🇦🇺👨‍🔬 (@AlexSaundersAU) July 4, 2021



Cardano was criticized for yet to develop a smart contract, ERC-20 converter, and clearly failed to approach “hundreds of tokens and thousands of dApps”.


This criticism invites controversy between supporters of Cardano and Ethereum.


Anyway, based on CardanoAssets.com there are 6,861 assets available on the network and the majority of them have a transaction volume of less than 1,000 for the monthly record.


Hoskinson appeared in response to the criticism received, stating only those who did not pay attention would make such claims. While Cardano has managed to record several application launches.


Cardano is among the networks that are often underestimated. The same thing happened during Shelley’s launch but Hoskinson considers the delay a normal one. At the very least, the figure believes they are very meticulous with every approach.


At the time of writing the ADA hit a value of $ 1.42, it was down nearly 1% in 24 hours. These assets have registered an increase of over 7% for a period of one week