IOHK founder and acting CEO Charles Hoskinson said to Bloomberg that more than a hundred crypto companies and ventures are in the process of transitioning from Ethereum to Cardano.
In the words of Hoskinson, more than a hundred crypto enterprises will soon enough leave the Ethereum blockchain and release their coins on Cardano. These actions will become feasible once the functionality of Cardano “reaches a high level”. Previously it was revealed that SingularityNET is ” honestly discussing ” migration to Cardano.
Despite the rapidly increasing price rate of ADA and the continuous development of the Cardano network, some critics still consider this blockchain network useless. As noted by the co-founder of Castle Island Ventures and CoinMetrics, Nic Carter, the Cardano blockchain has no noteworthy use instances:
“I haven’t heard of a single widespread product adopted on Cardano, and I haven’t observed any developer excitement for the platform.”
While not hiding his DeFi aspirations, Hoskinson thinks Cardano is far more efficient than the present industry leader, Ethereum.
Hoskinson, however, has far more elaborate plans than simply expelling Ethereum from DeFi – he wants countries to utilize Cardano for administrative uses. While Cardano is still far from being a blockchain network to be adopted by governments, Hoskinson has already achieved a celebrity reputation and claims to be recognized at airports and sent mails by supporters.
We remind that in early March, the Mary update was applied to the Cardano network, expanding its functionalities with the possibility for the establishment of custom token projects without using any smart contracts.
