Cardano Founder: What He Said About Competition and The Chase for Hyped Project

Cardano Founder: What He Said About Competition and The Chase for Hype Project

Cardano has been one of the most powerful projects in the industry in recent years. ADA in particular has made significant strides on the price chart despite its recent downtrend, and its steady flow of development has helped it move forward.

Even so, Cardano wasn’t immune to criticism. For example, although executives have a transparent and optimistic view of the future development of the project, its “misleading” assumption has also made it a target for many companies.

But how far has Cardano recently developed as a platform that was founded in 2015? Given its characteristics, is it ready for mass adoption?

Cardano’s Founder Believes in Staying Calm and Patient

In the founder Charles Hoskinson opinion in his personal blog, he said that now the cryptocurrency ecosystem is by no means peaceful and there will definitely be problems. 

Hoskinson admitted that what he said was the same that being the CEO of a technology company in the cryptocurrency space is a brutal affair. There is really nothing like the 24/7 blast of information, scandals, new protocols, concepts ranging from NFTs and the metaverse to a constantly changing landscape.

Needless to say, these developments can take a while in this fast-paced system. Cardano is no exception here. Regardless of what other competitors are pursuing in the short term, the executive wants to play long-term according to its own statements.

“Projects like Cardano were and still are the antithesis of this mentality. We’ve always chosen a systematic, patient, and refined process that moves publication by publication, release by release instead of chasing hype and the latest cycle.”

He added that their view is that these protocols will be as ubiquitous as the Internet and used by billions of people. This level of introduction will be years to decades, not weeks to months, and will not become memes. Finding peace and clarity in all FUDs remains a challenge.

ADA Community Blames Slow Growth on Human Process

Cardano claims to be secure and resilient but also promises that it is an agile network that grows and adapts with every evolutionary step. Changes to the network parameters are part of Cardano’s transformation process. Hoskinson believes that Cardano’s focus is still on evolving along with its evolution.

However, many criticized the slow development and congestion of the Internet. Mainly because patience can also hinder progress. Some critics claim that this “slowness” has also spawned competitors such as Solana and Avalanche.

The two ecosystems mentioned above allow not only Cardano but Ethereum to compete for its money as well.

Still, Cardano executives did not fully accept criticism of the jaw, with Hoskinson targeting critics of actual adoption.

Even so, some people still believe that the fundamental problem preventing Cardano from becoming a powerful nation is not so much the blockchain itself as it is related to its human process.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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