Cardano Creator Examines Shiba Inu and Dogecoin, Lists Key Factors in Evaluating Crypto Projects

source: coinchapter

Cardano (ADA) creator Charles Hoskinson calls for calm and restoration of perspective especially for the new members joining crypto-currency. Pointing out at the thousands of people joining cryptocurrency, he arguably states that due to this giant move by people towards cryptocurrency the world’s economy is about to experience a drastic change.

According to Hoskinson, unrealistic expectations have bred impatience in the crypto industry. As a consequence of local returns, people have developed very unhealthy views on how long things should take and where value comes from. And many people are starting to subscribe to the Greater Idiot Theory of get-in-fast, get-out-fast. And somehow you will have this great life. Forgetting that they are subscribing back to a dying monetary policy.

He adds that; the point of these cryptos such as Bitcoin, Ethereum, and Cardano is to steer humanity into the future. He furthermore expresses his concern and care for the need of creating value for people.

Hoskinson Creator Sentiments

Broadcasting from his YouTube channel the C.E.O. of the blockchain tech firm responsible for the development of Cardano, Input Output Hong Kong (IOHK); tells his subscribers that crypto projects should be evaluated based on their mission and vision.

He says that memecoins such as Dogecoin, SHIB, have accumulated tens of billions of dollars of value; but there’s no real user utility outside of the fact that there’s a social network behind them. The adherents of these things will argue that these social networks themselves represent the value and therefore, that’s all you need.

Old school people like Hoskinson say; you have to have real fundamentals, real transactions, real commerce, a potential for user utility, a path to these things and a view of how these things are going to work in the world, and change the world.

According to him, extremely high returns of some crypto assets have resulted in unrealistic expectations in the industry. Every year, we will see thousands of crypto-currency-related projects launching around the world without end, regardless of economic conditions. It also created a distortion about our expectations of return. And many regulatory bodies have warned people about this.

The universe of cryptocurrency is not about code or computer science, but about people. With projects such as Cardano, questions of freedom of people and standards of living will be easier to understand and solve. According to Hoskinson, human beings have shown restriction when in positions of absolute power. Thus, the point of blockchain technology is to act as a social law of physics. It constrains us from ourselves. We have shown the need for this in a global economy with many existential problems.

Why Cardano?

The point of projects like Cardano is to bring all the best engineers, scientists, communities and countries that bring out these approaches together to get things done. The source of value comes from the fact that, communities will be capable of solving problems locally and globally.