Cardano Blockchain co-founder Charles Hoskinson has admitted that his forecast of the number of DApps coming to the blockchain in July 2020 is yet to be met.
Referring to his famous July 2020 tweet, Hoskinson tweeted On March 23, “Remember when I predicted thousands of assets and DApps on Cardano? Well I was wrong, there are now millions of native assets issued and DApps now in the hundreds. #slow and steady,
Remember when I predicted thousands of assets and DApps on Cardano? Well I was wrong, now millions of native assets have been issued and DApps are now in the hundreds. #slow and steady https://t.co/mK4So6NHa1
— Charles Hoskinson (@IOHK_Charles) 23 March 2022
Although he may have misspelled his own tweet, as he did Predicted Back in July 2020, it was reported that by 2021, there will be “hundreds of assets and thousands of DApps” on Cardano (ADA).
While the number of assets appears to be exceeded Thanks to the new non-fungible token (NFT) minting protocol, the number of decentralized apps running on the network is not so impressive.
DeFiLlama, the decentralized finance analysis platform, tracks a total of $315.72 million in Total Value Locked (TVL) excluding just seven dApps and staking governance tokens running on Cardano. Two of these dApps have $0 TVL outside governance tokens.
hawkinson believe that Developers look forward to deploying the Vasil hardfork upgrade on Cardano, scheduled for this June, to launch their projects
According to the leading Cardano ecosystem tracker Cardano Cube, there are 579 DApps in various stages of development.
What most people don’t even understand is that many Cardano dApps are looking forward to the launch of Vasil Hardfork in June to benefit from pipelining. So looks like we haven’t seen anything yet on TVL https://t.co/mMHxwRrF96
— Charles Hoskinson (@IOHK_Charles) 12 March 2022
While the data contradicts some of Hoskinson’s higher predictions from 2020, it confirms that Cardano’s ecosystem has been growing steadily throughout 2022 so far. The launch of the SundaeSwap decentralized exchange (DEX) on January 21 fueled a huge increase in Total Value Locked (TVL). According to DeFiLlama, prior to the launch, Cardano TVL grew more than 24x from $3 million to $87.7 in a single day from January 20 to 21.
The TVL of the ecosystem, including the value of staking tokens, now sits at an all-time high of $315.7 million, with Minswap DEX leading all other dApps with $195.2 million. This makes Cardano the 25th largest blockchain network for TVL. Cardano’s TVL is approximately $421.5 million, if the value of the staking governance token is to be counted.
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Despite Cardano’s growth this year, the network’s TVL is still weak compared to its Layer-1 competitors in DeFi, such as Ethereum (ETH) and Solana (SOL). According to DeFiLlama, both the chains grossed a whopping $137.3 billion and $7.2 billion respectively.
