In a recent interview, Charles Hoskinson objected to users criticizing ADA for fluctuating at $0.40. Their doubts about Cardano are compounded by the emergence of competing tier one platforms, including Solana and TON. However, Hoskinson is not intimidated by short-term market fluctuations. In his opinion, the path to long—term success is the right foundation for the project and competent management.
Hoskinson recalled his work as CEO of Ethereum in 2014. At that time, he was afraid of the growth of the NXT crypto project. According to Hoskinson, it appeared "out of nowhere", quickly implementing the functions of decentralized exchange and smart contracts - technologically, the project was many years ahead of Ethereum. However, despite the innovations, NXT has sunk into obscurity, Hoskinson said. And he clarified: now its "blurred" market capitalization is less than $900,000, and the cryptocurrency itself occupies 8645th place in the CoinMarketCap rating and has zero trading volume.
According to Hoskinson, the collapse of NXT can be explained by two factors: poor token distribution and an inadequate management system. This led to the split of the project into different branches, including Lisk and Waves. The head of Cardano claims that if NXT had implemented the right management system, Ethereum would not exist today.
"Management is of great importance. This is the key factor determining whether a project will succeed or fail. In the long run, poor management will kill any project," Hoskinson said.
As for Cardano, Hoskinson has high hopes for the upcoming Chang (Cardano Improvement Proposal (CIP) 1694) hard fork, which is scheduled for the second quarter of 2024. This hard fork should implement a new proof-of-stake model called Ouroboros Leios and make major changes to the network management structure, according to the developers.
According to Cardano Blockchain Insights, in March, the number of addresses on the Cardano network exceeded 4.6 million. Since the beginning of the year, this figure has increased by 3.75%.