In a recent post on the X app, Charles Hoskinson, the creator of the Cardano layer-1 protocol, addresses network critics, highlighting its scalability and drawing parallels between its success and that of the leading cryptocurrency, Bitcoin (BTC).
Charles Hoskinson Reiterates Cardano’s Expandability
Hoskinson reminisced about concerns regarding Cardano’s block capacity and the ghost chain narrative, contrasting it with the current state of the network. Over time, Cardano has achieved milestones, expanded functionalities, and demonstrated scalability. Hoskinson emphasized the network’s design for handling such loads and the potential for optimization. He asserted, “We are winning without relying on VCs, crypto media, or influencers—just organic community growth, akin to Bitcoin’s journey.”
Highlighting Cardano’s growth, recent data from DefiLlama revealed a substantial increase in Total Value Locked (TVL). In a few days, Cardano’s TVL surged parabolically from $188.65 million on October 17 to $529.42 million on December 15, marking a remarkable 180% increase. This growth underscores the concerted effort to attract liquidity to the network.
Cardano is Surpassing its Counterparts in Performance
The DeFiLlama ranking places Cardano in the company of leading DeFi networks such as Ethereum (ETH) and Solana (SOL) in Total Value Locked (TVL), securing the 12th position in the DeFi ecosystem. Noteworthy contributions to this increased liquidity come from Indigo, a decentralized synthetic assets protocol ($120.2 million), Minswap ($103.77 million), and Liqwid, a decentralized lending protocol ($60.18 million).
ADA’s coin value has outperformed many peers, securing a position among the top ten by market capitalization. As of now, ADA is trading at $0.5753, boasting a market capitalization exceeding $23 billion. The active participation of whales on the Cardano blockchain has fueled a sustained price rally, providing a solid foundation for Hoskinson’s response to critics.
