Charles Hoskinson Acknowledges Cardano’s Biggest Mistake in 2021
Cardano founder Charles Hoskinson has openly reflected on what he considers the project’s biggest mistake, acknowledging that the miscalculation gave a major boost to rival blockchain Solana.
In a recent interview, Hoskinson recalled the period in 2021 when Cardano briefly held the third spot on CoinMarketCap. At that time, the network was preparing to roll out long-awaited smart contracts, a milestone meant to solidify its position in the market. However, he now admits the chosen approach proved to be too restrictive for developers.
“We Lost Momentum, Solana Gained”
Hoskinson said the team’s decision to pursue a rigid smart contract model created challenges for builders and slowed adoption. As a result, Cardano lost critical momentum during a phase when other blockchains were expanding rapidly.
“We misinvested in the smart contract model, and by doing so, we missed out on that wave of growth,” Hoskinson reflected, noting that Solana captured much of the momentum that Cardano had hoped to achieve.
Looking Ahead with Optimism
Despite this setback, Hoskinson stressed that he remains confident about Cardano’s long-term potential. He emphasized that while mistakes were made, the project continues to evolve, and he believes the foundations being laid today will support future growth.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
