It is interesting to note that, an American entrepreneur, Hoskinson was also a co-founder of the Ethereum blockchain platform. However, on May 17, Hoskinson turned to Twitter to make a cheeky remark about his former partner’s network. The post was in response to Buterin’s Twitter thread in which he was deliberating the contradictions he had about Ethereum, decentralized finance (DeFi), and democracy in general: In addition, Vitalik considered:
Doubts over ADA
Meanwhile, in response to opponents who have called ADA a “obfuscated scam,” Hoskinson, the Chief Executive Officer of IOHK, has clarified once again that Cardano does not have anything to hide. In the wake of the “state of collapse” that the UST experienced, which resulted in the collapse of the Terra ecosystem, concerns have been aired about stablecoins like Deus Finance’s stablecoin Dei (DEI) which also lost its peg and cryptocurrencies on the whole. Concerns that Cardano’s ecosystem is missing several key components have lately come back into the spotlight. Although ADA is valued at more than $20.1 billion, its DeFi ecosystem has a total value locked (TVL) of more than $137 million (without staking of governance assets), and detractors contend that Terra’s ecosystem had a TVL of more than $30 billion when it was at its height. To this purpose, Charles Hoskinson revealed what maybe might be considered the most important factors leading to the expansion of Cardano’s ecosystem: “Years of progress, building, and a massive community.” At the moment, there are 937 projects being developed on Cardano, which is an increase from the previous number of 925. Cardano has recently welcomed the launch of eighty-four new projects, while the total number of non-fungible tokens (NFTs) projects has increased to 5,549.
