Cardano (ADA) Founder Charles Hoskinson Says Network Has ‘Thousands of Assets’

Cardano (ADA) Founder Charles Hoskinson Says Network Has 'Thousands of Assets'

Cardano (ADA) founder Charles Hoskinson has said there are “thousands of assets” on the Cardano network in response to criticism surrounding activity on the cryptocurrency.

The criticism came in response to a prediction Hoskinson made in July of last year, in which he said that in a year Cardano would have “hundreds of assets” running on it, “thousands of DApps [decentralized applications], and “tokens of interest projects and lots of unique use and utility.”

After a user claimed that Hoskinson’s predictions had failed as there was “not a single dapp on ADA” and only one or two projects announced they would be working on the Cardano network, Hoskinson replied claiming there are “thousands of assets on Cardano.”

A project called CardanoSpace also replied clarifying it is a working decentralized application on the network. According to available data, there are nearly 6,900 assets on the Cardano blockchain, but only two have over 10,000 transactions per month.  

Cardano added the ability for developers to launch native tokens on its blockchain earlier this year after the launch of the much-anticipated Mary hard fork. The Cardano network has, as CryptoGlobe reported, over 70% of ADA’s circulating supply staked on it ahead of a major upgrade called Alonzo that will bring smart contracts to it, allowing decentralized finance applications to be deployed on it.

The Alonzo hard fork is part of the network’s “Goguen” era, named after Joseph Goguen, an American professor of computer science from the University of California and the University of Oxford. The Goguen era comes after the Shelley phase, in which Cardano became a decentralized blockchain and community members became validators.

Alonzo will be rolling out in a series of phases, with each one opening up more of the public until it’s fully integrated. The first, blue, is the one being rolled out in the testnet for now. The process is reportedly going to take 90 days in total, and as such smart contracts should be enabled on Cardano by the end of August.

DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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