“2022 will be a ‘big year’ for both the industry and Cardano,” said Charles Hoskinson.

Charles Hoskinson, founder of Cardano (ADA), warns about the challenges DeFi faces in a YouTube video titled “DApps and the Cardano DeFi Alliance.” Hoskinson discusses DeFi’s potential and Cardano’s small role in the industry.

According to Hoskinson, who has been on a mission of transforming traditional finance for a decade, A more long-term vision is needed among developers and creators.

“Unfortunately, many projects in this area cannot withstand the test of time. And it is true that we may see a mass extinction of DeFi in the next 5-10 years.”

Although Hoskinson believes 2022 will be a “big year” for both the industry and Cardano, there is still work. “There is a lot to do,” especially when it comes to certification standards, DApp quality, and security. He noted that nearly $10.5 billion was lost in hacks, scams, and theft in the sector in 2022 alone.

“The only thing holding us back is us. If we fight each other, insult and attack each other. What we do is hurt our ability to bring the conversation to an effective end.”

Hoskinson also discussed Cardano’s current plans, mentioning 127 projects in development. And the first half of 2022 will be “a pivotal moment for the commercialization and utility of the Cardano project,” he expects the number of users to grow tenfold from the current 2 million users. due to the flow of NFT tokens

Hoskinson also launched the Cardano DeFi Alliance, or CDA, to drive collaboration between developers. He hopes to bring Cardano to a fully established open source platform with the ability to integrate hundreds of other projects across the industry.

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