Hoskinson Predicts Cardano to Become the World’s Largest Cryptocurrency

According to the CEO of IOG, Charles Hoskinson, there is a strong likelihood that Cardano (ADA) will surpass the current market leaders, Bitcoin and Ethereum.

CEO of IOG, Charles Hoskinson made the unflinching prediction of Cardano (ADA). This took place in a keynote address at the Rare Evo Conference. Cardano will become the world’s largest cryptocurrency overtaking Ethereum and Bitcoin. 

Cardano is currently the world’s 8th largest cryptocurrency with a market capitalization of $9.16 billion (approx). However, it is way behind Ethereum at $198 billion, and Bitcoin at $506 billion. 

Cardano Committed Towards ‘On-Chain Governance

The basis of the statement was Cardano’s commitment to “on-chain governance”. It is a decentralized decision-making platform that involves the community. 

Hoskinson stated that this is the challenge. Moreover, this is the reason Cardano is going to be the largest cryptocurrency worldwide. He thinks that it will become more than merely a ‘cryptocurrency’. The CEO predicts it will become the backbone of a new virtual nation where individuals can trust one another. He believes it will transform as a place from ‘don’t be evil’ to ‘can’t be evil’. 

Cardano: A Tool for Trust & Engagement

Hoskinson’s mocked the governance models of the Ethereum and Bitcoin networks. Moreover, he pointed out that Bitcoin’s static design remains unchanged for over 13 years. Thereafter, it could be vulnerable for a long period. On-chain governance was claimed ‘unachievable’ by Ethereum leaders. However, Hoskinson argues that as crypto platforms grow and assemble millions of users, not implementing any on-chain governance might become a liability.

Also Read: ChatGPT Founder Sam Altman Launches WorldCoin

Hoskinson believes that Cardano’s on-chain governance will become a tool for community trust, and engagement. He further expresses his trust in human capabilities, stating that he always believed in the best in people. He predicts that de-centralized governance is a way to restore faith. 

Looking Forward

To achieve the title of ‘world’s largest cryptocurrency’, Cardano requires to scale its user base. Moreover, it needs to regulate the technical challenges and the twisted web of regulations. 

In the lawsuit against Coinbase, and Binance, Cardano was listed in the unregistered securities. However, as per reports, Hoskinson recently denied that the US SEC is not after Cardano.