Charles Hoskinson, founder of Cardano blockchain (ADA), is not holding back regarding his vision for the future of Cardano blockchain. Speaking at the fourth annual Cardano Summit 2024 in Buenos Aires, Hoskinson laid an ambitious roadmap for the next decade.
He predicted Cardano would surpass Bitcoin and Ethereum in size, functionality, and influence. As the Layer-1 network grows, Hoskinson predicts it will become the foundation for major global infrastructures.
Cardano’s Impressive Seven-Year Journey
Since its launch, Cardano has made waves in the blockchain world. In just seven years, it has scaled to a massive 11-figure network, attracted millions of users, and built the largest research group in the blockchain space.
The Proof-of-Stake (PoS) open-source ecosystem led development activity in 2022. This marked its second consecutive top-charts position, as it also topped the charts in 2021. This record underscores Cardano’s effort to maintain its peak position in terms of blockchain development activity.
Hoskinson proudly highlighted these milestones, setting the stage for even bigger achievements. Cardano’s growth shows how careful planning and a long-term vision can lead to success. It has become a strong competitor in the crypto world by sticking to its strategy.
Cardano to Outpace Bitcoin and Ethereum
Hoskinson confidently predicted that Cardano would surpass the Bitcoin and Ethereum blockchain within the next 10 years. This growth, he explained, will be fueled by increasing use cases. This bullish sentiment comes as governments and major entities begin to trust and adopt Cardano’s infrastructure.
For Hoskinson, this is not just a possibility; it is inevitable. His vision for Cardano goes beyond being just another blockchain. He envisions it as the network that will power future global systems.
Hoskinson Addressed Smart Contract Rigidity
Notably, Cardano’s rise has faced challenges within the crypto industry and Web3 space at large. Recently, debates on crypto X have centered around the rigidity of Cardano’s smart contracts, especially when compared to Ethereum’s more flexible offerings. Hoskinson, however, recently criticized Ethereum’s governance model, describing it as overly reliant on co-founder Vitalik Buterin.
Critics argued that Cardano’s protocol is too rigid, slowing user interactions and processes. However, Hoskinson addressed these concerns head-on at the summit, pointing to a major upcoming upgrade.
He said this upgrade will improve composability and introduce the Babel fees feature. This will reshape how Cardano handles transactions and user instructions, making the network more versatile.
A few days ago, the layer 1 blockchain took a significant step forward in its protocol evolution as it launched Ouroboros Peras. This new development is part of the firm’s ongoing commitment to enhancing the blockchain’s efficiency and scalability.
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