In a recent interview with Cointelegraph , Ethereum ( ETH ) co-founder and Cardano ( ADA ) founder Charles Hoskinson explained why he believes Cardano is poised for a trillion-dollar market capitalization .
One of the main hallmarks of Cardano's development approach is its emphasis on research first.
The genius founder won't always be around
Although there has recently been a new crop of what Hoskinson calls ” science coins, ” such as Algorand ( SOMETHING ), AVA , and StarkWare , when Cardano was just starting out, this approach was radically unorthodox. To this day, the approach often attracts criticism for being too pedantic and slow academically . However, Hoskinson believes it will allow Cardano to shine in the future:
“So my argument for academic rigor is that it's not just about today, but about tomorrow in two different ways. It's about tomorrow from the point of view that we can get protocols that can scale to billions of users. And there are no protocols in the world that allow us to do that right now. So they have to be designed. And then two, who will come up with the protocols in five years, in 10 years, in 15 years? Are we always going to have the founding genius around here? No. ”
Scaling to a billion users
To ensure that the project can function and grow even without its founding “genius” , a project must create “a decentralized brain” that enables perpetual innovation:
“So when quantum computers come to life, we will have defenses against that. When we start doing these things on satellites, we will have protocols for that. Well, we want these things to work on a mobile phone with the same user experience and use snarks. recursive. <...> And it doesn't have to be built by a company or a party. You can get out of the academic world in a very decentralized way. <...> So I think this is the superior long-term approach and it's the only approach that will really lead us to the protocol of a billion people. ”
Reaching the trillion dollar capitalization
Hoskinson believes it is only a matter of time before the crypto industry grows from billions to billions . A key element of this growth is demographics:
“The first key point here is for everyone under the age of 35. If you take a representative sample of them, statistically speaking of McKinsey and these other people are more likely to own a cryptocurrency than to own a bond, stock or gold. So investor interest in this asset class is skewed toward young people. And as young people get older, they get richer. ”
In addition, Hoskinson hopes that governments will begin to adopt blockchain technology and, at the same time, provide clearer regulation :
“Over time, states will manage their voting systems. Eventually the states where their property registry, all of these things. So the fact that those systems exist and do all of these things creates more influx of value. And thirdly , regulations are being established that institutional investors can finally put money into our industry, bringing in billions of dollars of new investment. ”
And when all of these factors are adjusted , Hoskinson believes that Cardano will position itself to benefit the most :
“And I think we are better positioned to capture the largest segment in the long term. Whether that happens in five, ten or fifteen years, a lot of things could happen to speed up or slow down our entire movement.”
Many in the crypto community agree that the industry could grow to the trillion dollar range, but only time will tell if Cardano will be the main beneficiary of such momentum .
Do not stop reading: