Tackling FUD, Hoskinson Insists “We Don’t Need A Magical Cardano 2 To Survive”
The crypto market has seen some ups and downs in the past few months. For example, ETH and Bitcoin have only hit multiple all-time highs in the last 2 months. In contrast, ADA – one of the favorite candidates against ETH – has not seen any new peaks since September.
ADA 4-Hour Price Chart | Source: Tradingview
So is Cardano still an “Ethereum killer”? And will it still have the strength to overcome this gigantic obstacle?
This is a difficult question to answer, especially since the hype about Alonzo and the platform’s smart contract function have been forgotten and ADA’s price performance is not that great either.
The idea of an “Ethereum killer” has been discussed in countless crypto projects and media platforms in recent years. However, many private investors only ridiculed them.
First of all, it should be clear that Ethereum is of course still the king of decentralized applications (dApps). When a project decides to build an application on the blockchain, Ethereum with a ratio of 9/10 is always the preferred target.
Fast loyalty disappear quickly
That’s not to say that Ethereum is always perfect. In the wake of the DeFi and NFT boom, these technologies are adding massive data traffic to the already overloaded Ethereum network. As a result, the gas charges in the network rose continuously.
On the contrary, many believe that Cardano, one of many competing Layer 1 blockchains that has been wrongly criticized, is promoting FUD.
To make this clear, one of Cardano’s ambassadors compared it to Ethereum in a series of tweets.
Our network activity continues to increase pic.twitter.com/gHOtK6IwoS
– Southrye – (₳) (@Southrye) November 28, 2021
“The reason why FUD Cardano being loud is because of it to be solution Substitute game physically the best for the ecosystem ether around which the industry was built there (and ether also help many KOL get very rich). Our network activity continues to increase boss despite this”.
The above indicators are combined with “only the NFT and before the 4-6 currently active decentralized exchanges even start”. Tweet Additionally:
“Basics are always popular and Cardano will do well.”
Here it is important to note that Ethereum has not had any noteworthy dapps for more than 2 years since its introduction. However, they were the first to “say we failed SC after just 11 weeks”.
Even so, despite the recent developments in the Cardano network, there are many backlashes. Even so, many in the community remained intrepid. Analyst continues confirm:
“We have never earned the industry’s trust. We were told we could never do PoS and our consensus would never work – we have proven they are wrong. Now we’re being told that our ecosystem won’t have any dapps worth it, and we’re going to prove them wrong again. ”
Optimism starts at the top
Charles Hoskinson brings up the recent FUD stories again. operator repeat:
“They’re scared because they don’t need a magical Cardano 2 to survive. It is a future-proof design that we are systematically building on with the strongest and most committed community. ”
Interestingly, the ecosystem has record some significant peaks are recent. For example, ADA’s on-chain transaction volume is more than double that of ETH.
No wonder some believe that Cardano is one of the most anticipated platforms in the crypto ecosystem.
Most active series in 24 hours | The source: Cardano daily
ADA failed to rebound alongside Bitcoin in October and consistently fell to 90-day lows. Not only ETH, now it has to compete hard with names like Solana, Avalanche … Therefore, more and more people in the community are turning to them. idea “Talk less, act more”, despite recent developments.
With Ethereum still alive, it will be interesting to see what some have called the “Ethereum Killer” project in action.
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