Cardano establishes support at $1.44 as Hoskinson discusses 2022

Namrata Shukla
Source: Pixabay

Cardano was establishing support at $1.44 as its price moved parallel. At the time of writing, ADA was trading at $1.49 with a market capitalization of $50.593 billion. As the digital asset was closing the year with over 700% gains, Charles Hoskinson shared some goals for Cardano in 2022.

The founder of IOHK noted,

“My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano.”

Hoskinson added that a structure will be up and running soon to oversee the creation of decentralized products on the network. He stated that “a formal open-source project structure is going to be formed, kind of like Hyperledger to Linux.”

Cardano aimed to become completely decentralized and Hoskinson was repeatedly questioned about it. Finally, in 2020, IOG published a paper on block production decentralization, which was achieved in April 2021. However, better late than never the network transformed into a fully community-governed and operated in April 2021.

Cardano also achieved a big milestone through the launch of smart contracts on the blockchain. Kicking it into the world of decentralized finance applications and allowing it to provide financial services like lending, borrowing, and trading on its platform.

Among other achievements, Hoskinson noted that over “two million assets” have been issued on the blockchain, but a large portion of it was non-fungible tokens [NFTs]. 2022 looks up for Cardano blockchain in terms of DeFi as currently, 127 projects were writing code to build dApps on the network.

As per the IOHK founder, about 20 to 30 were in the pipeline to launch within the next three months. He added about his key plans going forward,

“Next year, what’s going to happen is that a formal open-source project structure is going to be formed, kind of like Hyperledger to Linux. We’re going to see many institutions wired in, and all the people that are currently working on it will be novated over, including me.”

With big plans for Cardano, Hoskinson also talked about revolutionizing and building a financial operating system for many countries in Africa. This will offer access to African to DeFi. With all tools packed, Cardano will be taking on 2022.