ADA Founder Predicts Huge Ecosystem Growth In 2021 And Here’s Why

Charles Hoskinson, the ADA Founder predicts a huge ecosystem growth next year in which he sees rivaling Ethereum in the number of dapps on the platform but let’s see why he thinks that in our Cardano ADA news today.

Cardano is on a roll lately as the latest update from the team confirmed the Shelley mainnet launch being on schedule on July 29, 2020, and Hoskinson also mentioned the revised Daedalus test wallet which is also in the works with 300 independent stake pools available to choose from. This was enough to send ADA to a new year-to-date high of $0.16 but the movement by Bitcoin above $10k yesterday sent a lot of the altcoins down including Cardano’s ADA.

This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate

— Charles Hoskinson (@IOHK_Charles) July 26, 2020

ADA is now priced at below $0.14, down by 8% over the past day. Many analysts came out disagreeing with Hoskinon’s prediction for the future of the project. Alex Saunders from Nugget News injected a dose of reality into proceedings by commenting on the claims that thousands of dapps will be running on the platform in 2020. The ADA founder predicts a huge growth in the ecosystem but Saunders questioned the popularity of Cardano’s programming language saying that the knowledge base will not meet the claims. However, Saunders does believe that ADA will one day become the home of thousands of dapps but this will take more than a year to achieve.

Others were not so diplomatic in their critique of Hoskinson’s prediction as Larry Cermak accused Hoskinson of trying to pump the price of the altcoin as he followed up doubting the quality of the dapps future on the platform. The fight to eclipse Ethereum as a top smart contracts platform is also heating up.

This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate

— Charles Hoskinson (@IOHK_Charles) July 26, 2020

Developments within the Cardano ecosystem are heating up while Ethereum had a five-year head start releasing the ETH 2.0 bringing doubts on whether the project has what it takes to fight off the competition. The prospect of thousands of dapps running on Cardano sees quite ambitious right now as IOHK developers are making moves to turn Hoskinson’s vision into a reality. IOHK announced the launch of a $20 million development fund to provide more money for the projects to build on the ecosystem by making a partnership with Wave Financial Group who will assess applications.

In a recent update from Charles Hoskinson he informed the viewers of his future plans to build the ERC20 converter with the hopes of snagging Dapps and Ethereum:

 “So basically what this means is that this team is going to go to Ethereum, take all of the existing ERC-20 token and build a converter to redeploy them on our testnet once we have the native assets standard deployed.”