Cardano (ADA) breaks 7 month downtrend, as founder rues the slow pace of dApp rollouts

2022-3-25 18:10

Input Output CEO Charles Hoskinson admits he wrongly predicted there would be thousands of assets and dApps on Cardano. Instead, he smugly declares there are now millions of native assets and hundreds of dApps.

Remember when I predicted thousands of assets and DApps on Cardano? Well I was wrong, there are now millions of native assets issued and DApps are now in the hundreds. #SlowAndSteady https://t.co/mK4So6NHa1

— Charles Hoskinson (@IOHK_Charles) March 23, 2022

The comment was in reference to a July 2020 tweet, which caused a stir based on detractors calling it pie in the sky thinking.

One such detractor was Alex Saunders of Nuggets News, who, at that time, said the limited number of experienced Haskell devs doesn’t support those numbers. However, he sees this happening in five years, not one year, as Hoskinson had foretold.

“I’ll take the other side of that bet. There is no way earth you’ll have 1000s of dApps in 1 year. There’s not even that many devs familiar with your system. I do think you can get there in 5. Sorry@IOHK_Charles let’s keep it realistic. $ADA.”

Saunders has since abandoned his socials following allegations of failure or inability to pay money owed to friends and followers.

While Hoskinson’s 2020 call has been exceeded, albeit with a skewed timeline, what good is that without “killer” dApps?

Where are the usable “killer” dApps?

According to Coinmonks, Cardano has a total of 199 dApps in various states of development. Of those, just 17 are live and usable.

Source: CoinMarketCap.com

In addition, none (to date) have hit it off in the same way as OpenSea on Ethereum, PancakeSwap on Binance Smart Chain, or Magic Eden on Solana, to name a few.

While Cardano’s architecture and development approach seem rock solid, without “killer” dApps that users want to use, it will continue losing ground to the other Layers 1, who seemingly prioritize user experience over unglamorous “under the hood” development.

Nonetheless, investment website Seeking Alpha says Cardano is “on the brink of a decentralized app (DAPP) explosion,” which, if it goes to plan, could see ADA hit 33% of Ethereum’s market cap, giving a predicted price of $3.75.

Cardano (ADA) is on a tear

Cardano has been down-trending since the Alonzo smart contract upgrade went live in mid-September 2021. But a stellar performance over the last week sees ADA up 35%, making it the biggest large-cap percentage gainer.

On Wednesday, bulls pushed the price decisively above the 50-day moving average, also breaking the six-and-a-half-month downtrend line in the process. Today sees a continuation of bullishness, with ADA up 14% over the last 24-hours at the time of writing.

The Relative Strength Index (RSI) takes a sharp increase into overbought territory, current at 73 – a level not seen since late August, in the run-up to ADA’s all-time high of $3.11.

Source: ADAUSD on TradingView.com

Signs point to a trend reversal. But it remains to be seen whether the fundamentals, primarily the coming dApp releases and whether they hit mass-market appeal, can sustain this momentum.

The post Cardano (ADA) breaks 7 month downtrend, as founder rues the slow pace of dApp rollouts appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 1.1466 (-100%)

cardano dapp pace month ada slow rollouts

cardano dapp → Результатов: 49


Фото:

Cardano price movement: how will the Basho phase impact the value of the ADA token?

Cardano ADA/USD is a Proof-of-Stake (PoS) blockchain network that is founded on peer-reviewed research and has seen a consistent level of development through evidence-based methods.   Cardano is designed to be a decentralized application (dApp) development platform that features a multi-asset ledger and verifiable smart contracts powered by the ADA token.

2022-1-19 20:46


EMURGO to develop new dApp tool stack for Cardano blockchain

EMURGO, the official commercial arm of Cardano and the Cardano Foundation, overseer of the Cardano blockchain, announced the launch of a project that will see the two organizations combine efforts and resources to foster the development of a community-generated and maintained tool stack to support the Cardano ecosystem and accelerate decentralized application development.

2022-1-19 19:19


Фото:

EMURGO Unveils “Oracle Core” Geared Toward Cardano’s Goguen Era

Cardano’s (ADA) official commercial arm EMURGO unveils “Oracle Core” to drive smart contract adoption. “Oracle Core” to Help Developers Build and Run Oracle Pools After having successfully launched the Shelley upgrade, the Cardano ecosystem is now gearing for the highly-anticipated Goguen era that will bring greater smart contract and decentralized applications (dApp) adoption within theRead MoreRead More.

2020-8-31 19:02


Cardano starts off first day of Shelley Virtual Summit with 5 new announcements

Cardano’a parent company IOHK started off the Shelley Virtual Summit with 5 major announcements, unveiling some of the innovations that were made possible by the public mainnet launch of Shelley, including its identity solution PRISM, a new model for governance on Voltaire, as well as a $20 million fund aimed at dApp development on Cardano.

2020-7-3 19:59


Фото:

Upgrade Shade: Cardano Founder Appears To Taunt Ethereum

As the Ethereum community prepares for a network-wide upgrade tomorrow night, not everyone is celebrating. Charles Hoskinson, CEO of IOHK and the public face of the Cardano community, seems to have taken the fork as an opportunity to flaunt something the larger dApp platform has not yet been able to achieve: a workable implementation of proof-of-stake […] The post Upgrade Shade: Cardano Founder Appears To Taunt Ethereum appeared first on Crypto Briefing.

2019-1-15 19:43


Чем Cardano отличается от Ethereum

Ethereum и Cardano — две наиболее известные блокчейн-платформы для децентрализованных приложений (DApp). Оба проекта стараются создать удобную среду для разработки децентрализованных приложений и смарт-контрактов.

2018-8-13 16:42