According to data tracker CoinMarketCap.com, Cardano’s market valuation rose to around $34 billion this year from around $5.6 billion last year.
Charles Hoskinson, a 33-year-old who appears to be a PhD student before crypto mania took over his life, is the creator of Cardano.
Cardano’s meteoric rise over the last three months has piqued the interest of some of the most savvy cryptocurrency investors.
“We will see a big investment in the next year, a hundred companies will build on Cardano, and only one on Ethereum.”– Charles Hoskinson
He’s become something of a crypto rock star, with a 105,000-subscriber YouTube channel, fan mail, and even gifts from admirers.
According to Hoskinson, IOHK got 8% of the coin supply as well as around $30 million in cash to write Cardano code over a three-year stretch. He claims that more than 100 businesses are “in the pipeline” to switch from Ethereum to Cardano until its functionality matures.
Cardano’s blockchain security and governance, according to Hoskinson, are superior to Ethereum’s, allowing for applications such as voting and supply-chain tracking.
Even after an update in early March, it is still unable to run many of the most popular crypto applications, such as decentralized finance projects that allow users to lend, sell, and borrow money from one another.