Cardano (ADA) has 100+ projects in development: Charles Hoskinson

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on Feb 13, 2021
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  • Cardano is open to new projects and partnerships to expand the reach of its platform.
  • The blockchain network has also expressed its focus to invest in the emerging markets in Africa.
  • Cardano’s fundamentals are likely the major reason for the ADA’s 400% surge within the past year.

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Cardano blockchain’s chief executive officer Charles Hoskinson said the company is currently involved in over 100 projects it is working on.

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This is coming following the data revelation from CoinMarketCap, showing that the Cardano (ADA) has gained more than 400% from last year to date. More people are now showing more interest to invest in Cardano. The impressive performance has gotten observers in the industry asking what could have triggered such a level of performance.

But Hoskinson’s recent comments on Cardano’s fundamental growth during a recent interview may have provided the answers required.

I have a hundred plus commercial projects in the pipeline that want to either migrate or build something on Cardano.

Cardano has a strong fundamental value

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Hoskinson added that the fundamental value of Cardano has never been hidden. Cardano has also revealed one of those projects Hoskinson claimed has been in the pipeline.

An Artificial Intelligence (AI) solution SingularityNET (AGI) recently revealed it has engaged with Cardano to continue its second phase of migration into the Cardano blockchain.

The Cardano developers also commented on the project, stating that it will be the highest democratic exercise in AI and the first main token to be released on the smart contract platform.

Hoskinson also revealed that the projects encompass crypto projects and decentralized finance (DeFi) protocols. He said the government, as well as Fortune 500 companies, are interested in the projects.

The ADA currency of the Cardano blockchain is currently the fought-largest cryptocurrency by market cap.  As of press time, the token was trading at $0.9203.

Leveraging the emerging African markets

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Hoskinson has always been vocal about the need to leverage the opportunities presented by the emerging African markets.

Director of African operations at Cardano John O’Connor stated that Cardano (ADA) has almost secured a deal with an African state. However, he didn’t say which African country or the level of the project’s development.

But it’s a sign that the platform has opened its arms to welcome several partnerships and other projects that want to utilize Cardano’s platform to expand their products.

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