Cardano Founder: We Are Experiencing Organic Growth Similar to Bitcoin, Is ADA Set to Surge?
In an interview with X, Charles Hoskinson, the founder of Cardano, expressed his excitement about the network’s recent growth, comparing it to the organic development of Bitcoin (BTC). Despite concerns about network congestion, Hoskinson reassured investors that Cardano is equipped to handle increased demand and has significant room for scalability in the future.
There has been a noticeable increase in demand for Cardano, causing the network to transition from its previous “ghost chain” status. Hoskinson addressed the worries of some individuals regarding Cardano’s block saturation, suggesting that the platform is prepared to handle rising demand and has plans for further expansion. Unlike Ethereum, Cardano focuses on peer research and has been making steady progress in its development.
According to block explorer data from Cexplorer, Cardano’s average block saturation stood at 56.98% as of December 18, higher than the monthly average of 44.5%. The average block usage has been gradually increasing over the past two years, from 64kb in early 2021 to 88kb currently. However, it is worth noting that Cardano’s maximum capacity is adjustable, allowing for changes based on transactional demand.
As Cardano enters the Basho stage after the activation of smart contracts during the Goguen phase, the platform is working on refinements to improve performance and scalability. Scalability is a crucial concern in blockchain technology as it determines transaction processing speed and fees. Unlike Ethereum, Cardano maintains stable fees regardless of network load.
Hoskinson also highlighted the organic growth of Cardano, attributing its success to the engagement and involvement of the community. He emphasized that the platform is not being driven by venture capitalists, crypto media, or influencers, much like Bitcoin’s growth. This statement could be seen as a subtle comparison to other smart contract competitors, such as Solana.
While ADA’s future trajectory remains uncertain, with its circulating supply and growth potential, it could potentially follow a similar path to that of Bitcoin. However, investors are advised to conduct their own research and consider the risks associated with investing before making any decisions.
(Source: This article is provided for educational purposes only and does not constitute investment advice. All investments carry risks, and readers are advised to conduct their own research and invest at their own discretion.)