Cardano Creator Reviews Shiba Inu and Dogecoin, List Key Factors in Valuation of Crypto Projects

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Cardano (ADA) creator Charles Hoskinson said the coins have reached market caps of billions of dollars despite their lack of usefulness to the user.

The CEO of the blockchain technology company responsible for Cardano’s development, Input Output Hong Kong (IOHK), tells his 291,000 YouTube subscribers that crypto projects should be evaluated based on their mission and vision.

“… We have Dogecoin (DOGE), Shiba Inu (SHIB). They have technically accumulated tens of billions of dollars in value, but there is no real use to the user other than the fact that there is a social network behind them.

But followers of these things will say that these social networks themselves represent value and hence, that’s all you need.

Old school folks like me say you have to have real fundamentals, real transactions, real trading, potential for user utility, a path to these things, and a vision for how these things are. are going to work in the world, change the world.

The founder of Cardano claims that the extremely high returns of some crypto assets have led to unrealistic expectations in the industry.

“Each year, we will see thousands of cryptocurrency-related projects launching into the endless world, regardless of economic conditions. It also distorted our expectations of return. And many regulators have warned people about this.

But it’s unrealistic if there is 100x or something to expect this to happen every year. It can’t. Math doesn’t work that way.

According to Hoskinson, unrealistic expectations have sparked impatience in the crypto industry.

“But because of the local feedback, people have developed very unhealthy views about how long things should take and where the value comes from. And a lot of people are starting to buy into the big idiot theory to go in fast, get out fast, and somehow you’ll have this great life.

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