Charles Hoskinson, the founder of the Cardano (ADA) cryptocurrency, recently shared his opinion on the present state of the cryptocurrency industry in a YouTube video titled “Thoughts on the Market and the Ecosystem” aired live on May 29.
The co-founder of Ethereum (ETH) believes that it will all be achieved as an industry. He highlighted the rising number of developers competing to construct incredible engines that will process billions of transactions a year, if not more, containing trillions of dollars in value.
Hoskinson assures its future-proofing programmable finance, and that this financial operating system will be social, institutional, and Fortune 500-sized. Hoskinson went as far as suggesting that it may someday rule nation-states.
Such a future is unavoidable according to Cardano’s creator.
Cardano is a Part of Human Freedom
Hoskinson continued to explain that recently, the cryptocurrency market has seen an injection of money from individuals who trust in the technology, traders trying to make a quick buck, and those who came out of frustration and rage caused by the financial systems, banks, and officials’ corruption, hyperinflation, and nepotism.
It’s not only about money, its about freedom.
There will be further improvement in financial engineering, the availability of financial goods, and the marketplaces on which they trade in the next decade according to Cardano’s CEO.
According to Hoskinson, altcoins and meme coins have increased their share of the cryptocurrency market in 2021, which has seen Bitcoin lose its established market dominance.
Hoskinson stated that in 2020/2021, it will be interesting to note that this is the first time a large counter-cyclic movement has been observed, in which both Bitcoin dominance has plummeted to 43 percent and institutional preferences have not been solely Bitcoin.
Innovate to Stay Ahead
People distinguishing proof-of-stake (POS) from proof-of-work (POW), according to the Colorado tech entrepreneur, has influenced the price of cryptocurrencies in the crypto market (POW).
The simple fact is that decentralized blockchain platforms have become so popular, the initial PoW system that made Bitcoin work has outlived its usefulness. PoS platforms, like Cardano, are likely the future of blockchain – and human freedom.