Cardano creator Charles Hoskinson took to Twitter to blast critics who claimed that his forecast from July 2020 failed to materialize. At the time, Hoskinson predicted that there would be hundreds of assets on Cardano, thousands of DApps, and a series of interesting projects on the network within a year.
While Cardano bulls have been rubbing their hands in anticipation, some critics claim none of this has happened so far.
“You Haven’t Been Paying Attention”
Cardano is presently in a game-changing transition phase in the network’s evolution with the Alonzo hard fork that was launched in May. With this hard fork, the network will be able to deploy smart contracts that could set the stage for wider network adoption and a significant price appreciation for ADA, the native cryptocurrency of the Cardano blockchain.
Nonetheless, skeptics believe Cardano has not quite delivered on its promises. A Twitter user called attention to Hoskinson’s tweet a year ago, adding that there are no assets on Cardano. In response, Hoskinson noted that if you don’t realize there are “thousands” of assets currently running on Cardano, then you haven’t been paying keen attention.
Notably, Hoskinson is not wrong when he says there are thousands of assets up and running on the Cardano network. The blockchain onboarded native assets following the successful implementation of the Mary hard fork back in March. But the real question is, how many of these assets can be regarded as active?
Is Cardano Still A Ghost Chain?
Cardano, which touts itself as the first third-generation cryptocurrency, has over 6,800 assets running on it. Unfortunately, only two of these assets manage to crunch at least 10,000 transactions per month with the majority of assets on the chain remaining inactive.
Though Cardano has often received criticism from people terming it a “ghost chain”, Hoskinson has maintained that they are ignoring the noise and only focused on real developments.
With a market capitalization of roughly $44 billion, Cardano is one of the world’s most valuable decentralized networks. The proof-of-stake (PoS) network will fully embrace smart contract functionality by August-end — a fundamental requirement for building DApps.