Charles Hoskinson highlighted the rapid growth of the Cardano ecosystem and clarified concerns of the crypto community.
Growth likely to be slower in 2022 than in 2021
In a recent YouTube video, Charles Hoskinson highlighted the rapid growth of the Cardano (ADA) ecosystem. He also clarified the concerns expressed by other members of the crypto community over the past year.
“We live in a world where random groups of people can boss around and decide what’s legitimate”. Hoskinson said as he spoke about the government’s perception of cryptocurrencies. He pointed out that a vast majority of financial crimes are committed with the US dollar or other fiat currencies and not cryptos.
According to Hoskinson, the growth of the crypto ecosystem this year may be slower than in 2021:
“It’s hard to imagine where the industry of $2.5 trillion. I think as an industry we have to deal with the consequences of the rapid growth, even if things are going in the wrong direction.”
Hoskinson went on to say that traditional investors do not yet understand the crypto market well. The community plays a major role in cryptocurrencies. But the traditional world doesn’t understand that:
“That’s why VCs (venture funds) don’t understand that Cardano has a community. They think the Cardano network represents just me behind a microphone.”
Hoskinson wants Cardano to be open source
Hoskinson also said Cardano will gradually move to a permanent open source project. He compared it to the Linux operating system. He hopes to move away from a hierarchical structure to open-source DApps developed by members of the Cardano community.
In the long term, Hoskinson envisions faster completion of the Cardano roadmap through “small means commitment”. He called out YouTubers, podcasters and VCs who have questioned Cardano’s growth. He said: “We are 100% behind the idea of GitHub commits”.
“If you’re such an expert that you’re going to give your opinion on the quality of our comments, tell us which ones are wrong, which ones mean nothing, and which parts of the roadmap we’re failing dramatically at.” According to Hoskinson.
In a similar live YouTube session, Hoskinson spoke about DeFi’s potential. He also talked about Cardano’s small role within the industry. According to him, developers and creators should take a more long-term view:
“It’s very difficult to do this kind of engineering and do it right, with an eye on the future. Unfortunately, many of the projects in this space will not stand the test of time. It’s just a fact that we’re going to see a major extinction in the next five to ten years.”