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At least 100 projects currently working on Ethereum are “in the process” of transitioning to Cardano’s blockchain, said Cardano founder.
During a conversation with Bloomberg, Cardano founder Charles Hoskinson responded to criticism that the project has been developing a blockchain for years but has yet to release a final product.
Hoskinson said this delay was necessary because Cardano wanted to create a product that could fulfill more needs than just running stablecoin or DeFi projects like Ethereum did.
We did it right, but that meant we were among the last to reach the market. My goal is to run countries on this blockchain. I am not interested in Uniswap and CryptoKitties and other things. It’s a bubble, it comes and it goes, just like Pet Rocks and Beanie Babies.
And Cardano’s blockchain could currently be the new home to at least 100 projects currently using the Ethereum network.
You can use your DeFi and you can run it on my system for costs between 1/100 and 1/1000.
As previously reported, the Ethereum blockchain, the underlying technology behind most of the ongoing DeFi and NFT craze, has been consistently congested, resulting in extremely high transaction fees.
Although Ethereum 2.0, which aims to solve these problems, is being developed, the upgrade is far from being released and Layer-2 solutions have yet to show real-world results.
Cardano rolled out an update called ‘Mary’ earlier this month, and plans to reach full decentralized status by March 31, 2021.
Hoskinson also mentioned that Cardano’s native cryptocurrency prices have skyrocketed over time. The ADA has been active since the beginning of the year and is now recording a 450% increase YTD. Furthermore, the asset marked a new all-time high a few weeks ago at around $ 1.5.
Cardano’s founder noted that he doesn’t know the exact reasons driving prices up, but he feels grateful for the personal results that have just been achieved:
… Breaking out into a billionaire in just eight years is pretty crazy. – He concluded.
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