- Cardano’s founder has eaten the humble pie over his 2020 prediction about the network.
- The founder predicted that the network would have “thousands of assets and DApps”.
- While the prediction has not come to actual fruition, Cardano’s community is optimistic about an avalanche in the coming months.
Charles Hoskinson, Cardano’s founder, has admitted that his prediction for the ecosystem has not come to pass. While the milestone was missed, the new figures around the ecosystem have been indicative of stellar growth.
The Missed Prophecy
In July 2020, Hoskinson predicted that in 12 months Cardano’s ecosystem would be sizzling with activity. “There will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects, and lots of unique use and utility,” he wrote.
One year down the line, things did not go according to plan as the planned integration of smart contracts was still a novelty. At the time, DApp activity on the platform was at an all-time low, sparking widespread criticism of the network.
“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 are now in the hundreds.#SlowAndSteady,” he wrote on Twitter. His tweet hinged on the growth that the network had experienced since the implementation of the Alonzo hard fork one year later than originally predicted by Hoskinson.
The excitement that followed the hard fork saw ADA rise to over $3.00 and trade as the third-largest cryptocurrency after BTC and ETH. Despite the flurry of activity the ecosystem has seen, DeFiLlama recognizes only 7 top DApps running on the blockchain and an impressive $331 million in total value locked (TVL).
The Light At The End Of The Tunnel
Hoskinson believes that the bulk of DApps are around the corner and would explode into the scene in June. He predicts that the Vasil hard fork would lead to a spike in total value locked on the blockchain.
“What most also don’t understand is that many Cardano DApps are waiting for the Vasil hard fork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL,” he wrote on Twitter.
At the moment, Cardano’s DApps and TVL do not come close to Solana and Ethereum. Solana has a TVL of $7.6 billion while Ethereum holds a staggering $125.52 billion according to Defi Llama.