Charles Hoskinson, founder of Cardano, shared his view on Ethereum-based Dapps and Cardano’s future in a livestream on his YouTube channel.

Hoskinson stated that the decentralized application ecosystem still has a long way to go to realize its potential, describing it as “unhealthy” because most of these DApps do not run off-chain.

dApps are not “self-sustaining” yet:

According to Charles Hoskinson, there are 3,800 dApps available on the Ethereum network, yet these dApps have only processed a few hundred with financial transactions so far.

He told that the rest of the decentralized applications are ghost applications if they are almost non-existent.

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Charles Hoskinson revealed that in 2020, only 31% of newly developed DApps were built within the Ethereum network.

He provided a reason for this, noting that the gas fee for Ethereum transactions might make the trend continue this year as well.

He also explained his views on the sustainability of decentralized applications by saying:

If the goal is just random guesswork, Ponzi schemes, no real use and interest and the inability to scale and process millions and billions of transactions, then I can say nothing.

In fact, the goal of these apps is to build things that people will use for the long term and have a sustainable economy.

dApps are far from “monetizing”:

In the live broadcast, the Cardano founder stated that people are still far from creating dApps that can make a huge difference in the crypto arena.

He added that the issue of high gas fees must be addressed.

Charles Hoskinson expressed his happiness with Cardano’s progress, noting that Cardano is currently moving with an economic value almost similar to Ethereum despite its market value being five times lower.

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Cardano is the future:

Hoskinson emphasized that Bitcoin and Ethereum are not sustainable, interconnected and scalable ecosystems especially for people interested in cryptocurrency.

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With a number of developers and researchers out there, Cardano may outperform the two and become the first effective 3G cryptocurrency to advance on the long-awaited Ethereum 2.0 network.

Charles Hoskinson said that the Cardano project is still under development and is proceeding in three phases:

• Metadata.
• Tokens and innovative smart contract platforms such as Plutos.
• Create side chains and switches to transfer tokens from the Ethereum network to the Cardano network.

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