Charles Hoskinson, co-founder of Cardano Blockchain, admitted that his July 2020 forecast for the number of decentralized applications (DApps) coming to the blockchain has not yet been met.
Referring to his famous tweet in July 2020, Hoskinson wrote on Wednesday: “Do you remember how I foresaw thousands of assets and DApps on Cardano? Well, I was wrong, millions of original assets and hundreds of DApps have now been released. #Slowly but surely.” ”
However, he may have remembered incorrectly in his own tweet in July 2020, in which he predicted that there would be “hundreds of assets and thousands of DApps” on Cardano by 2021.
Although the number of assets seems to have exceeded expectations by 2022 thanks to the new non-fungible (NFT) character protocols, the number of decentralized applications running on the network is not impressive.
The Decentralized Finance (DeFi) analytics (DeFi) platform tracks just seven DApps running on Cardano and a total Locked Value (TVL) of a total of $ 315.72 million, excluding governance tokens. Two DAppers who do not have TVL outside the control tokens.
Hoskinson believes that the developers are waiting to roll out the Vasil hard fork update to Cardano, scheduled for June this year, to launch their projects.
Cardano’s decentralized applications are tracked by DeFiLlama.
According to the leading Cardano ecosystem tracker, Cardano Cube, there are 579 DApps in various stages of development.
While the data is in conflict with some of Hoskinson’s top predictions for 2020, they confirm that Cardano’s ecosystem has grown steadily into 2022 so far. The launch of the SundaeSwap Decentralized Exchange (DEX) on January 21 helped significantly increase the total closed volume. Prior to Cardano’s launch, TVL increased more than 24 times from $ 3 million to $ 87.7 in a single day from January 20 to 21, according to DefiLlama.
Cardano TVL is growing steadily through 2022 – DeFiLlama
With the value of TVL tokens stacked, the ecosystem has now reached a record high of $ 315.7 million, with Minswap DEX leading all other $ 195.2 million DApps. This makes Cardano the 25th largest blockchain network according to TVL. If we calculate the value of Governance tokens, Cardano’s TVL is around $ 421.5 million.
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Despite Cardano’s growth this year, the network’s TVL is still fading compared to DeFi Tier 1 competitors such as Ethereum and Solana. According to DefiLlama, the two chains control $ 137.3 billion and $ 7.2 billion, respectively.