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Cardano Could Reach Billions of Users, According to Charles Hoskinson

Mon, 03/22/2021 - 06:28
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Alex Dovbnya
Charles Hoskinson calls Ethereum "a dumpster fire," claiming that people will start leaving it for Cardano
Cardano Could Reach Billions of Users, According to Charles Hoskinson
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In a recent Periscope live stream, IOHK CEO Charles Hoskinson predicts that billions of people could end up using Cardano in the long run, claiming that it’s a matter of scale.

Everything is just a matter of scale as we live in the age of networks. Does it matter if takes 10 or 20 years for us to get a billion people? Because we will be at a billion people, the seventh of the entire population. Does it really matter if the next billion people takes us another ten years? No, because we will be at two billion people, a third of the entire world population.

Ethereum and BlackBerry

Hoskinson mentions BlackBerry, MySpace, and Netscape to make his point about the fragility of Ethereum as the leader of the decentralized finance boom: 

Things change, and they change very quickly in technology. So have some patience and understand where we are going.

He adds that the existing DeFi projects are not necessarily loyal to their current infrastructure, and they may migrate to Cardano out of self-interest.  

These businesses are not in the game to make Joe Lubin or Vitalik Buterin money. They are there to provide a service.

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As Hoskinson points out, no one was really willing to write on Windows in 2000 simply because they liked Bill Gates and Microsoft. Instead, it was their operating system of choice because of the network effect.

However, he also notes that no one in the industry has so far managed to build a sustainable model for decentralized applications that could be used by everyone in the long-term:

If the goal is rampant speculations, Ponzi schemes, no real use and utility, and no ability to scale to millions and billions of people, I want nothing to do with that.

As reported by U.Today, Hoskinson revealed that over 100 projects were ready to move from Ethereum to Cardano earlier this month.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at