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Charles Hoskinson, the founder of Cardano (ADA), plans to build fantastic engines capable of processing billions, if not trillions, of transactions every year. He gave a title to his recent YouTube video “Thoughts on the Market and the Ecosystem” gave his opinions on a set of circumstances in the cryptocurrency market.
Hoskinson plans To Build Fantastic Engines to Support Bigger Transactions
According to the mathematician, work is getting done side by side to build fantastic engines capable to hold billion-worth transactions yearly, if not trillions, of transactions every year.
He went on to say that this financial operating system will be social, institutional, and Fortune 500 and that it will inevitably rule nation-states. The Co-Founder of the Ethereum (ETH) network deliberated.
“As an industry, we’re going to get it done. We’re all competing to construct those incredible engines that will process billions of transactions every year, if not more, totaling trillions of dollars in value. We’re future-proofing programmable finance, and this financial operating system will be social, institutional, and Fortune 500. And it will, at some point, run nation-states. It is unavoidable. This is a reality.”
According to Hoskinson, the cryptocurrency market has seen an influx of money in recent months from those who believe in the technology, traders looking to make a quick buck, and those who came out of frustration and anger fueled by the financial systems, banks, and policymakers’ corruption, hyperinflation, and nepotism.
“There will be further improvement in financial engineering, the design of financial products, and the markets on which they trade during the next ten years.” – said Cardano’s CEO.
Cardano Founder’s Take On Bitcoin
According to Charles Hoskinson, altcoins and meme currencies will have a part of the cryptocurrency market domination in 2021, forcing Bitcoin to lose its established market dominance. Hoskinson discussed the market’s impact on Bitcoin (BTC), which he says was more noticeable during the 2017/2018 cycle than the 2020/2021 period.