Charles Hoskinson Input Output
Charles Hoskinson, founder of Cardano, recently spoke with Insider.
He spoke on a variety of topics, including the future of DeFi and what he called "bitcoin minimalism".
Cardano is one of the fastest-growing blockchains. It can now be used to create smart contracts.
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Charles Hoskinson, Cardano founder, believes that no single blockchain will have dominance in the crypto sector. Instead, there will be an "internet" of blockchains. Recently, the network was upgraded to be able to host smart contracts as well as other applications such non-fungible tokens.
Its native ada coin has seen a nearly 1,250% increase in value this year and is now third in market capitalization behind bitcoin and Ethereum.
Insider spoke to Hoskinson about the recent key alonzo network upgrade and the future of decentralized financial services. He also discussed how small blockchains such as cardano are still not seeing the benefits of institutional investors joining the crypto-craze.
He spoke on a range of topics, including maximalism in crypto, the need for more quality standards for networks, and his forthcoming tour to Africa, the third-fastest growing crypto economy.
These are the top ten quotes, slightly edited for clarity.
"Unfortunately, in our industry there is a lot of maximalism. If you talk to a Bitcoin person, they will tell you that bitcoin is the only truth and all other coins are a sh*t coin. The other thing is that DeFi must become'real-fi.' It needs to mature, which means it needs governance. It needs metadata standards, quality standards, real customers, and identity built in. What decentralized finance must mature. "What is great about cryptocurrency is that they are separated from humanity in this regard. It's not about price, but about variance. - On discussing transaction fees on different cryptocurrency networks. "(I am) going to Africa. We're going there to South Africa, Tanzania, Zanzibar Burundi Ethiopia Kenya, Kenya, Egypt, and we're also going to South Africa. Five heads of state will be meeting us." On his upcoming trip to Africa, where crypto adoption has increased 1,200% in one year. "This funding round (raised $4 million) - We think that over 50,000 people participated and the engine continues to grow." Cardano's most recent funding efforts. "Almost all of the growth has been organic and there wasn't a central driving force doing market-making deals behind-the scenes. This was a double-edged knife, and it meant that it took us a long time to be listed on Coinbase. - On the challenge of organic growth. "Institutional investors tend to buy bitcoin, but they are starting to look at utility impact, environmental concerns, and other criteria as investments. This excludes bitcoin. - Concerning investor reservations about bitcoin. "So they must move down the line, and actually have proof of stake systems. We're the largest. We believe we should be the one receiving the largest share of these allocations. - On cardano's advantage over its competitors.
