- Cardano is an ecosystem that seems to have a billion users over the world.
- Hokinson decided to rebuild the whole smart contract model.
Charles Hoskinson has mentioned that the Cardano (ADA) ecosystem seems to have a billion users over the world, instead of millions of users. Furthermore, Hoskinson is the CEO of Input-Output Global (IOG) who created the evolving smart contract platform Cardano (ADA).
Hoskinson mentioned that the notable focus to serve billions of users is the reason behind the team’s decision to redesign the smart contract model of Cardano.
The point of Cardano is to ask, ‘Where do we need to go? What do we need to do to have an ecosystem with a billion people, not an ecosystem with a million, and be able to sustainably provide a financial operating system for that?’
Even more, Hokinson explained that they decided to rebuild the whole smart contract model. Firstly, this is because it is not safe and billions of dollars of users’ funds have been lost due to the hacking of unsecured apps. Secondly, it is not sustainable, which means cost predictability and high gas fees that the applications contain.
Cardano Smart Contracts Model Attracts Millions of Developers
The Smart Contract model of Cardano has the capability of handling millions of developers across the world. There are 80,000 Solidity developers and 25 million Dot Net developers, Java developers, and many more.
Moreover, he said Ethiopia took them over four years to negotiate, during a civil war. Despite being listed in the bottom 5% of countries for ease of doing business, Ethiopia closed a deal with Cardano. Best of all, the deal between Cardano and Ethiopia could benefit five million people in the country. However, these 5 million people are expected to grow to over 20 million people in the future.