In a recent YouTube video, Charles Hoskinson highlighted the rapid growth of the Cardano (ADA) ecosystem, while clarifying concerns raised by other members of the crypto community over the past year.
“We live in a world where arbitrary groups of people become fact-checkers and decide what is legitimate,” said Hoskinson, speaking about the government’s notion of cryptocurrency. He explained that most financial crimes are committed with the US dollar or other fiat currencies.
According to Hoskinson, the growth of the crypto ecosystem this year may be slower than in 2022:
“It’s hard to argue with a $2.5 trillion industry and imagine where this is going. I think we’re going to have to digest the better or worse consequences of becoming so big so quickly as an industry.
He also highlighted the need to turn Silicon Valley’s “quirky mantra of moving fast and breaking things” into crypto, which caused a loss of $10.5 billion in the decentralized finance (DeFi) space in 2021. Emphasizing on Cardano’s slow and methodical approach, Hoskinson said:
“So the VCs don’t even really understand that Cardano has a community. They think it’s just me behind a microphone.”
Hoskinson also said that Cardano will gradually turn into a sustainable open source project, comparing it to the Linux operating system. He hopes to move from a hierarchical structure developed by members of the Cardano community to an open-source dApp:
“They [the developers] At least one of its developers must commit to contributing to the Cardano protocol.”
In the long term, Hoskinson envisions a faster completion of the Cardano roadmap through this “small resource commitment.” He called out YouTubers, podcasters and VCs who have questioned Cardano’s development, “we are number one for GitHub”:
“If you’re the kind of expert that you’re going to consider the quality of our comments, tell us which ones are wrong, which ones don’t make sense and which parts of the roadmap we are failing dramatically. “
related: “The only thing holding us back is us,” says Charles Hoskinson of DeFi’s future.
In a similar live YouTube session, Hoskinson talked about DeFi’s potential within the industry, as well as Cardano’s minor role.
According to him, developers and creators need to promote a more long-term vision:
“With a vision and foresight for the future, it’s very hard to do this kind of engineering and do it right. Unfortunately, many projects in this area will not stand the test of time. It’s just a fact that we’re looking forward to the next day.” Will see a great extinction in five to 10 years.”
