Charles Hoskinson Showcases Bullishness On Cardano (ADA)

Cardano creator, Charles Hoskinson, has recently demonstrated his support for the optimistic outlook on ADA, the native token of the leading proof of stake (PoS) blockchain project/

A recent post on X by @Stakewithpride, a Cardano staking pool operator, sparked renewed interest in the project’s vision of a self-funded decentralized system.

The post highlights the significant growth of the Cardano treasury, noting that if the price of ADA returns to $3, the treasury value will exceed $4.5 billion, compared to $1.7 billion when ADA last traded at that price point.

The post emphasizes the significance of this growth, framing it as a step towards Cardano becoming a “decentralised network state that funds its destiny”. This points to the critical aspect of Cardano’s philosophy, which relies on a self-sustaining treasury generated through network fees and reserve allocations to support future development and operations.

Charles Hoskinson Reacts

The tweet has garnered positive reactions from the Cardano community, with many users expressing excitement about the treasury’s growth and its potential to fuel further innovations.

Some have pointed to the treasury’s size as a competitive advantage compared to other smart contract platforms. An X user @Laponia_pool, in his excitement, said, “If the treasury hits 4.5B USD, we could give 100k USD every single day to someone for 100 years. We would still have 1B left. Cardano”.

Weighing in on the post, Cardano creator, Charles Hoskinson, responded with an animated GIF featuring a retro computer game, demonstrating his support for the optimistic outlook on ADA.

https://t.co/dwLZ3aqjok pic.twitter.com/FTPgSgq3Xa

— Charles Hoskinson (@IOHK_Charles) February 17, 2024

Cardano’s New Feature Unlocks Possibilities

The Cardano founder is bent on taking the Cardano community to the next height as he recently unveiled the highly anticipated Plutus V3 upgrade, which is set to revolutionize the Cardano smart contract capabilities and unlock new possibilities for interoperability.

While Charles Hoskinson has expressed concerns about the potential downsides of AI, Cardano’s future engagement with AI remains an open question.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Recently, Hoskinson has been raising concerns about the possible negative impact artificial intelligence (AI) could have on society, citing worries about increasingly sophisticated deep fakes. In his latest concern, Hoskinson commented on a tabloid article claiming future AI companions could become manipulative “gold diggers.”

He believes this highlights potential trust issues arising from AI’s integration into our lives. Also, In December, he commented on a deep fake video of himself, expressing concern about the rapidly evolving technology and its potential to create indistinguishable forgeries.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.