Hoskinson reacts to CoinDesk’s negative 2023 prediction for Cardano.
Cardano founder Charles Hoskinson has reacted to an opinion piece published recently by crypto news outlet CoinDesk. The crypto news outlet predicted that Cardano would become a zombie chain in 2023. CoinDesk made this known in an article titled 23 blockchain predictions for 2023.
CoinDesk’s Report
The popular crypto media outlet described Cardano as a vaporware network that will soon lose its position as a top 10 blockchain, as speculative money leaves the ecosystem.
CoinDesk noted that Cardano is still riding off the hype from its earliest days. CoinDesk added that Cardano has not undergone any significant ecosystem development despite the innovations happening around Web 3.
“In the current depth of the bear market, Ethereum is maintaining (roughly) $1 billion in volume every 24 hours. Compare that to Cardano’s ~$1M and EOS’ ~$100,000 daily volume,” CoinDesk added.
Hoskinson’s Reaction
Following the negative report, an ADA enthusiast with the Twitter username @CardanoNoodz called on Hoskinson’s attention to the post. @CardanoNoodz asked Hoskinson if Hoskinson read the CoinDesk report that upgraded Cardano from a ghost chain to a zombie chain.
“Did you see @CoinDesk gave us an upgrade from Ghostchain to Zombiechain alongside EOS?” @CardanoNoodz quizzed.
Commenting on the article, Hoskinson said maybe Cardano has also become a zombie chain.
I guess we are a zombie chain now too… https://t.co/YpoHwG7nWL
— Charles Hoskinson (@IOHK_Charles) December 21, 2022
Hoskinson Says Crypto Media Hate Cardano
It bears mentioning that the CoinDesk article further confirms Hoskinson’s previous assertion that crypto media hates Cardano. In May, Hoskinson said he does not understand why crypto media hate Cardano. The prominent crypto entrepreneur said Cardano has not received much support from crypto media outlets.
The low crypto media support has contributed to the negative reports Cardano has received from news outlets like CoinDesk. It is worth noting that critics consider Cardano as a ghost chain with little to no utility.
Cardano Soars Amid Criticisms
However, Cardano has proved these critics wrong by recording a massive spike in the number of smart contracts deployed on the network. As reported by TheCryptoBasic, the number of smart contracts deployed on Cardano spiked by more than 300% year-to-date (YTD).
For context, Cardano has undergone a series of upgrades to improve the blockchain’s performance. In September, Cardano’s development team, Input Output Global (IOG), shipped Vasil, an upgrade that brought significant improvements, including faster block creation and enhanced smart contract functionality to the blockchain.
Coinbase Ignores Cardano in Recent Report
Meanwhile, Cardano was dealt a heavy blow recently after popular crypto exchange Coinbase completely ignored the blockchain in its “2023 Crypto Market Outlook” report. Commenting on the development, Hoskinson said he expected better from Coinbase.
Not a single mention of Cardano. Pretty low and pretty sad. I honestly expected better pic.twitter.com/0VHSdm5A2H
— Charles Hoskinson (@IOHK_Charles) December 21, 2022
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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