A thread of tweets emerged on 1st August, where Hoskinson was tasked to prove and defend the utilities embedded in Cardano. A lot of crypto community members also weighed in with various opinions.
The software programmer and cryptocurrency entrepreneur, Daniel Larimer, also weighed in but with a totally contrary opinion to the general belief that surrounds the Cardano project. According to his claim, Cardano (ADA) has no use case other than being a currency.
“Your protocol doesn’t work for applications other than currency, the confirmation latency is too long for most of defi and completely unsuitable for most use cases,” claimed Daniel Larimer.
Smart Contracts and Native Assets Are Coming On Cardano This Year
In response to Daniel Larimer’s criticism, the co-founder of Cardano, Charles Hoskinson assured him and other critics that the Cardano network will welcome smart contracts and native assets in 2020.
“Smart contracts and Native assets are coming this year, our latency is lower than ethereum’s- the dominant DeFi platform (hydra brings it to subsecond) to quote satoshi: I’m sorry, I dont have the time to explain it to you.” Charles Hoskinson responded.
Smart contracts and Native assets are coming this year, our latency is lower than ethereum's- the dominant DeFi platform (hydra brings it to subsecond) to quote satoshi: I'm sorry, I dont have the time to explain it to you. https://t.co/aej1MS06cz
— Charles Hoskinson (@IOHK_Charles) August 2, 2020
Number of Registered Stake pools Increases on a Daily Basis
Since this accomplishment, there has been a daily increase in the number of registered stake pools. Charles Hoskinson made this known in a short video update on 1st August 2020.
According to Hoskinson, despite an extremely busy week, developments are going as planned and 400 registered stake pools have been recorded since the official launch of Shelley. However, the number of registered stake pools is expected to have grown far beyond the 400 mentioned.
In the brief update, Hoskinson added that several performance updates will follow in August for further improvement of the network performance.