Cardano is Recording Overwhelming Demand: Charles Hoskinson

Cardano is Recording Overwhelming Demand: Charles Hoskinson

Charles Hoskinson, the founder of Cardano (ADA), recently announced that the company is witnessing “overwhelming demand” despite it still being in the second phase of its Goguen upgrade.

Hoskinson noted that Cardano does not have the programmability facility at the moment, nor the smart contracts needed to meet the demand, but that didn’t stop companies from subscribing to it. Already, several applications are using Cardano’s metadata features.

The founder and CEO of Cardano noted that “at the moment our company has no more capacity to serve the flow that comes to Cardano.”

In a previous report, we quoted Hoskinson saying that over 100 companies could migrate from Ethereum to Cardano, despite Cardano’s current inability to cater to the clients.

The influx of clients spiked significantly following Cardano’s successful launch of the Mary hard fork at the start of this month. The upgrade effectively turned the company into a multi-asset network ecosystem.

Meanwhile, Charles Hoskinson is actively working with several African governments to attract millions of users to its database. IOHK, the host company behind Cardano, has collaborated with several African countries to get its citizens to create digital identities.

Hoskinson Comes with Proof for Critics
Hoskinson recently broadcasted a map of Cardano’s ecosystem via Twitter to shut critics who labeled the company a “ghost chain.”

Charles Hoskinson. Source: Google

Speaking about the DeFi ecosystem, the CEO noted that the company “has to listen to what people are saying,” referring to dApps that function as speculation vehicles alone, like NFTs, without providing any sustainable use cases for the cryptocurrency community.

He added that “most dApps are currently centralized by a small group of actors who control the changes in the protocols.”

Meanwhile, Cardano plans to provide complete decentralization for the protocol by enabling block-creation by pool operators by the end of this month.

 

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.