ADA Is Overwhelmingly Subscribed Without Smart Contracts: IOHK CEO

ADA is overwhelmingly subscribed even without having smart contracts as Charles Hoskinson said in an interview as we are reading more in our latest Cardano ADA news.

The founder of Cardano, Charles Hoskinson stated that his company saw plenty of demand despite only being the second stage of the Goguen upgrade.
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Cardano still doesn’t have programmability at the base layer with no smart contracts as of now but this didn’t stop the companies from subscribing to it and a few applications like BeefChain are already using the platforms’ metadata features, as Hoskinson said in a video:

 “At the moment our company has no more capacity to serve the flow that comes to Cardano.”

He said that over 100 companies will migrate from Ethereum to Cardano despite still not having established the ground for smart contracts. The inflow of clients increased since Cardano implemented the Mary Hard Fork at the start of the month and turned it into a multi-asset network ecosystem so ADA is overwhelmingly subscribed even now. Hoskinson was not working with a few several African governments to bring millions of users into the database. IOHK is working with plenty of nations in the continent that enable the citizens to have digital identities that will be linked to wallets and payments systems.

Hey Ghost Chain carnival barkers, I ran out of space for my picture. I guess I need a bigger one pic.twitter.com/gVXpAfOazd

— Charles Hoskinson (@IOHK_Charles) March 20, 2021

Hoskinson posted a map of Cardano’s ecosystem on Twitter as he was trying to shut down critics for calling his company a “ghost chain” and speaking about the Defi ecosystem, Hoskinson said that they have to listen to what people are saying, referring to Dapps that work for speculation and NFTs being sold for millions of dollars without having to implement sustainable use cases for the users:

 “Most DApps are currently centralised by a small group of actors who control the changes in the protocols.”

Cardano plans to provide full decentralization for the protocol by allowing stake pool operators to create blocks so Hoskinson stated that the protocol is still in the middle stage of the upgrade but won’t implement ETH-based smart contracts saying that it will bring more problems in the Defi ecosystems like scalability and high gas fees.

Starting four days ago, the users will be able to start trading the cryptocurrency in the supported regions and the users will be able to sell, buy, convert, receive and store the funds in ADA. These can be traded on the date that is referred to provide sufficient liquidity with the exchange offering the following trading pairs ADA/BTC, ADA/USD, ADA/EUR, and ADA/GBP.