Search Inside Bitcoins

Charles Hoskinson Says He Was “Wrong” About His Prediction Of DApp On Cardano

Cardano ADA coin crypto
Cardano ADA coin crypto

Charles Hoskinson has admitted that his prediction made about Cardano two years ago is incorrect. “Remember when I predicted thousands of assets and DApps on ADA? Well, I was wrong,” the Cardano founder tweeted while referring to his prediction in July 2020. He stated that while DApps are in the hundreds, there are now millions of native assets issued.

But he may have forgotten his tweet or misremembered it. At the time, he predicted that there would be “hundreds of assets and thousands of decentralized apps.

But today, the number of assets running on networks appears to have exceeded his prediction due to the emergence of the nonfungible token (NFT) minting protocols. On the other hand, his prediction of the number of DApps on the network has not materialized yet.

Only 7 DApps Are Currently Running On The Network

According to DeDiLlama, a decentralized finance analytics platform, only seven DApps are running on the Cardano network, with $315.72 in total value locked (TVL). Two of the DApps still have no TLV outside of governance tokens.

According to Hoskinson, developers are still expecting the deployment of the Vasil hardfork upgrade on the network this June before launching their projects.

Punt Crypto Casino Banner

Cardano Cube, a Cardano ecosystem tracker, noted that about 579 DApps are at the various stages of their development and deployment.

Cardano Sees Increased Network Activity

Although the recent data doesn’t correspond with Hoskinson’s bold predictions two years ago, it does show that there is an increased level of activity on the ADA ecosystem since the beginning of the year. In January, the SundaeSwap decentralized exchange (DEX) was launched, helping to cause a massive rise in total value locked (TVL). As a result, Cardano TVL skyrocketed by more than 24 times to $87.7 million from a mere $3 million within 24 hours in January.

Cardano’s TVL is now at a record level of $315,7 million, with Minswap DEX topping the charts with $195.2 million. Following this growth, ADA is now the 25th-biggest network by TVL.

Your capital is at risk.

Read more:

Read next

X

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

Buy Crypto

68% of retail investor CFD accounts lose money.

eToro - Best Cryptocurrency Platform
Buy Crypto

68% of retail investor CFD accounts lose money.

X