Cardano continues uptrend while founder admits that he was wrong about DApp rollout

Charles Hoskinson, the co-founder of the Cardano blockchain, has jokingly admitted that his prediction of the amount of DApps arriving on the blockchain in July 2020 has not yet been realized.

“Remember when I predicted thousands of assets and DApps on Cardano?” Hoskinson tweeted on Mar. 23, referring to his famous July 2020 remark. “Well, I was wrong; millions of native assets have indeed been issued, and DApps are now in the hundreds. #SlowAndSteady.”

Remember when I predicted thousands of assets and DApps on Cardano? Well I was wrong, there are now millions of native assets issued and DApps are now in the hundreds. #SlowAndSteady https://t.co/mK4So6NHa1

— Charles Hoskinson (@IOHK_Charles) March 23, 2022

He may have misinterpreted his own tweet, as he forecasted in July 2020 that by 2021, the blockchain would have “hundreds of assets and thousands of DApps” running on it.

While new NFT minting techniques appear to have outperformed his forecasts by 2022, the amount of decentralized apps running on the system isn’t quite as remarkable.

DeFiLlama, the famous DeFi analytics platform, tracks only seven Cardano-based DApps with a total value locked (TVL) of $315.72 million, excluding staked governance tokens. Outside of governance tokens, two of those DApps have no TVL.

TheCoinRise has written an exclusive review about a promising Cardano startup Ravendex (RAVE).

Vasil Cardano hard fork upgrade will attract developers

Hoskinson believes that developers are waiting for the Vasil Cardano hard fork upgrade to be released in June before deploying their projects. There are 579 DApps in different phases of development, as per the data by Cardano Cube, an ecosystem tracker.

What most also don't understand is that many Cardano DApps are waiting for the Vasil hardfork in June to launch to benefit from pipelining. So it seems we ain't seen nothing yet on TVL https://t.co/mMHxwRrF96

— Charles Hoskinson (@IOHK_Charles) March 12, 2022

While the data defies some of Hoskinson’s more optimistic 2020 predictions, it does demonstrate that the Cardano ecosystem has been steadily improving throughout 2022. The establishment of the SundaeSwap DEX on January 21 helped in a significant increase in total value locked (TVL). According to DeFiLlama, ADA TVL jumped more than 24 times in a single day from $3 million to $87.7 in the days prior to the launch.

ADA has been performing really well in the past few days by rising more than 38% in the last 7 days.

As TheCoinRise reported, the founder of the company said that Cardano aims to compete with Solana.