Despite the recent decline in prices of Cardano and other cryptocurrencies, the fundamentals of the platform are still very strong. Charles Hoskinson, the founder of Cardano and CEO of IOHK, explains the current metrics and says that every single one of them has grown significantly since the beginning of the 2020year.
“The good news is every single metric you can measure about the health of Cardano from January 1st 2020 till end of 2021, every metric over the last 24 months has been absolutely exceptional from the amount of ADA staked, to the amount of active users, to the catalyst participation, to the social signals, to account creation on Reddit, Telegram and other things, to the actual transaction volume on Cardano, the growth of use and utility of Cardano, the DApp ecosystem that’s formatting for Cardano, even venture capital investment. Every metric you can measure, meaningful or otherwise, has improved. It’s not a single one that hasn’t.”
“The noise would have you believe that all of these doesn’t exist or it’s a fantasy because it’s 10 years out and by then all the network effect is lost. But the people actually paying attention realize that we’re developing faster than most people in the ecosystem. We’re still number one in many cases, many weeks for GitHub commits and the noise would have you believe that maybe that’s just ‘hello world’ being appended again and again and again. The reality is when you actually look at it, it’s real software. It’s real code.” Hoskinson’s comments come as the price of Cardano continues to be in a downtrend since hitting an all-time high of $3.09 on September. 2nd.
The Cardano creator highlights that ADA’s price action is just “noise” as he believes the seventh-largest crypto is still one of the leaders in the digital asset space.
He also added: “It’s very significant updates that are accelerating and more teams are coming in. More decentralization is occurring at the core and next year we’re going to see the formation of a very serious industry-leading open-source project, which I think is the bureaucracy of open source and the governance of open source done right and built for high participation of dozens if not hundreds of companies.”
Here is link from Hoskinson’s youtube chanell :