- Cardano co-founder Charles Hoskinson has boldly declared that Cardano would outpace Bitcoin (BTC) and Ethereum (ETH) in the next ten years.
- Speaking at the Cardano Summit hosted in Argentina, Hoskinson disclosed that the team is more focused on an efficient and loyal community than engaging in aggressive marketing.
Cardano (ADA) has become bullish on all fronts as it stages a massive turnaround in its social media activities. According to Messari data, Cardano gained 2000 net followers on X in October to send its overall follower count to 823,870. This is quite positive as the project saw its followers decline from 836,000 in March to below 822,000 in September. Meanwhile, a renowned Cardano stakeholder who manages more than 200 million locked ADA tokens, Rick McCracken, believes that the project lacks an aggressive marketing approach.
McCraken Claim Against Cardano and Hoskinson’s Position
According to McCracken, several market projects have overshadowed Cardano despite its current position as the eleventh largest crypto. Despite this concern, Cardano co-founder Charles Hoskinson argues that the project could be larger than both Bitcoin and Ethereum in the next decade. This daring prediction was made at the just-ended Cardano Summit hosted in Argentina.
Putting this claim into perspective, our analysts pointed out that Hoskinson’s prediction implies the market cap of ADA could enter trillions of dollars to outpace the price of ETH and BTC. Interestingly, his assertion stems from the opinion that Cardano is technically superior to the top two crypto projects, especially with the recently implemented decentralized governance model and the incredible “items on its roadmaps”.
Throwing more light on this, Hoskinson explained that it has the capabilities to address all problems. To him, this explains why the team focuses on building a more efficient community rather than directly focusing on marketing. Speaking at the recent event, Hoskinson clarified that the team is focused on long-term sustainability rather than short-term success.
Taking a dig at Venture Capitalists funds, the Cardano co-founder indicated that these projects contradict the whole purpose of the blockchain technology since they are centralized. Based on our observation, his confidence is strongly backed by the upcoming Voltaire era which is expected to introduce on-chain governance. At the Summit, Hoskinson pointed out that:
This fully decentralized governance structure will enable Cardano to quickly adapt and resolve issues without third-party involvement.
Previous Claims by Charles Hoskinson
Prior to these interesting claims, Hoskinson recently declared Cardano as the number 1 blockchain in the industry. As CNF previously disclosed, the CTO of the Cardano Foundation, Giorgio Zinetti, who appeared to agree with Hoskinson, labeled Tezos and Polkadot as smaller chains that already have on-chain governance.
I would say it is the biggest event in Cardano’s history, and it really makes us different from many other chains. I think we are the largest layer 1 with on-chain governance. There are some smaller players, like Tezos and Polkadot, who already have on-chain governance. But if there was a leaderboard, real decentralized layer-1s, we would be number one.
Earlier, we also reported on Hoskinson’s subtle attack on Ethereum, calling it a “dictatorship blockchain“ that only relies on its co-founder Vitalik Buterin for direction.
At press time, ADA was trading at $0.36 after surging by 2.8% in the last 24 hours. However, the asset remains 41% down from the year to date.
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