Charles Hoskinson, the creator of Cardano, shared what lays ahead for the smart contract ecosystem during one of his regular appearances on YouTube. So what is in store for ADA in 2022? – let’s find out!
Different than most expectations
At the beginning of the podcast, Charles pointed out that in the past year he made predictions that were ultimately not fulfilled. He was referring to thousands of dApps and hundreds of Cardano-based assets. In the end, 127 decentralized apps emerged, while the number of ADA-locked assets is over 2 million. Most of these are NFTs. While the applications are not that many, the second number exceeded the wildest expectations. Thus, the coming year will be marked by the adoption of more projects into the network. Thanks to Cardano’s low costs and the smart contracts that have been launched, the ADA network is becoming very attractive in this respect. This is further facilitated by the bridges that have been launched for ERC-20 tokens.
More institutional interest
One of Charles Hoskinson’s main goals for 2022 is to attract much more institutional interest. This is to happen if only by launching an open source structure. To quote his words:
“Next year there will be a formal open-source project structure, something like Hyperledger for Linux. We’ll see a lot of institutions connected to the network, and all the people who are currently working on it will be moved, including me.”
Continued development in Africa
The year 2021 was a time when Cardano was taking major steps in Africa. The project contributed vividly to support education on the continent. Everything was done in collaboration with the University of Luxembourg. EMURGO Africa, an investment program that is also an incubator for the region’s startups, was also created. Tanzania was also supported in accessing digital identity and building financial inclusion.
As Hoskinson points out, there is still much work to be done. He talks about the need to build a financial operating system. His goal will be to ensure that Africans have access to the DeFi sector.
“My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano.” – Hoskinson completes.
Will Cardano repeat its fantastic rally?
Cardano has been one of the big revelations of the past year. A huge community has formed around it, constantly supporting the project. Not surprisingly, the ADA coin has risen 1625% since the beginning of the year to its peak on September 2. It was a rally from a level around $0.18 to nearly $3.17. At the same time, it was a period of waiting for the launch of the smart contracts milestone. After that event, the price action of the coin has quieted down a bit, but it still remains in a broad consolidation band located between $1.00 and $3.00. Will further developments bring further impressive gains? The coming time will certainly let’s find out.