Cardano (ADA) founder Charles Hoskinson, admired by much of the crypto community for his candor and consistent engagement, has expressed his opinion on how the crypto industry will unfold over the next 10 years.
In an interview with Cointelegraph at the Crypto Finance Conference, Hoskinson described how the crypto growth cycle holds parallels to that of Amazon and the great dot-com bubble of 2000. Amazon was one of the many companies that experienced an incredible drop in value at the time, but now stands as one of the most valuable company in the world, with fingers in several pies.
It might take 11 years for us [the crypto industry] to recover in fact where we were in 2017 but we will be a dramatically different ecosystem at that point. We’ll have millions, perhaps even billions of users will be in many consumer products the easy-to-use landmark.
While the technology isn’t quite so mature that it can handle users on that scale, with scaling developments and Cardano’s own solutions, the future in which much of our financial and social engagement is decentralized is very real.
Hoskinson also believes that, with the entry and rise of institutional investment, regulation will form in the space, and the desire for better trading tools and options will push crypto towards stability:
Institutional investors are pretty picky. They’re very intelligent investors, but then they also require an ecosystem of sophisticated trading strategies and tools […] They need derivatives, they need options, they need to get a short sell, and if our markets can get these things, what will happen is that you’ll no longer see this massive volatility.
2018 may have been hard on the market in terms of value, but the year also saw great progress in terms of the fundamentals, institutional entry, and a weeding out of the “tourists,” as noted crypto-investor Anthony Pompliano said. A PwC official in Asia predicts even more institutional investment in 2019.
Cardano Stands Out in the Middle of This Market Maturation
The Cardano project has a monumental year ahead of them.
Expected to launch in 2019 is, among many other things, the introduction of Cardano’s next phase of evolution, Shelley, which will make the network far less centralized. Hoskinson recently spoke of Ethereum’s Proof-of-Stake progress; Cardano’s own Shelley is an attempt at offering further decentralization.
Hoskinson communicated the upcoming release of Shelley around the middle of January 2019. The upgrade will bring multi-signature transactions, quantum resistance, and enhancements to user-friendliness, and help bolster the belief that Cardano will be one of the projects with longevity in the crypto space.
