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Key Takeaways Cardano prioritizes long-term value and reliability over rapid user acquisition in DeFi. Hoskinson believes future blockchain adoption will be driven by governments and large corporations. The decentralized finance (DeFi) ecosystem is an ever-evolving landscape, with the introduction of application-specific blockchains (appchains), layer-2 (L2) blockchains, novel virtual machines, and so on. In this scenario, users wonder how can blockchains such as Cardano compete with these optimized infrastructures.  Charles Hoskinson, CEO of Input Output Global, stated during his participation at Blockchain Rio that Cardano is making sure that everything built so far preserves and protects the blockchain value. To fulfill this goal, it is more important to make calculated moves instead of the typical “move fast, break things.” “There’s no greater example of that than Bitcoin, which by definition is the least capable of all cryptocurrencies. They don’t even have smart contracts on Bitcoin at the moment, right? You can’t issue assets on it. Yet it’s worth over a trillion dollars. Why? Because at the core of it, the value proposition of Bitcoin is a relentless commitment never to violate the principles that Bitcoin was founded on and that has value in the market,” Hoskinson shared with Crypto Briefing. He added that in competitive environments, such as crypto, teams embrace what they know are mistakes to try to move fast and capture market share. However, protocols spend the next 10 to 15 years trying to fix these embraced fundamental mistakes. “JavaScript is the greatest example of that of all time. Bad programming language. It was made in 54 days. We spent two decades fixing that really, really bad language. And that’s why we saw the rise of Ruby, TypeScript, and all of these other things because JavaScript wasn’t fit for purpose. So Solana and these other guys, this is what…

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Filed under: News - @ July 31, 2024 10:28 am