C. Hoskinson’s Prediction: Cardano Set for Explosive Growth in 2024

Charles Hoskinson, co-founder of Cardano, has conveyed his positive outlook for 2024, envisioning unprecedented growth within the Cardano ecosystem.

In a recent YouTube broadcast on Saturday, Hoskinson underscored the unique and intriguing developments of the year, emphasizing that 2024 stands as a pivotal period for the Cardano blockchain.

“2024 is going to be a great year for Cardano,” said Hoskinson, “2023 was actually a great year, all things considered -how much progress we made and how many things we thought through and did. This year, we’re just getting started.”

Notably, he focused on the ongoing transition into what is referred to as the “age of Voltaire,” named after the influential French writer and philosopher. Voltaire represents the fifth and final stage of the Cardano development roadmap, succeeding the Basho scaling phase. During this phase, ADA holders will play an active role in shaping the blockchain's future decision-making processes.

Hoskinson delved into the core tenets of Voltaire. The initial pillar revolves around democratic consent, underlining the necessity for an on-chain governance system like DS (Decentralized Software Development) and the Constitutional Committee. The second pillar places emphasis on institutions such as the Cardano Foundation, streamlining blockchain complexity and slated for community validation by year-end through democratic consent. The third pillar is centred on constitutional representation, safeguarding users' fundamental rights and prioritizing principles like a deflationary monetary policy and inclusive accountability.

Furthermore, Hoskinson shared insights derived from the recently revealed Electric Capital 2023 Crypto Developer Report, shedding light on favorable trends in the development of Cardano. Despite the fluctuations in the cryptocurrency market, the report underscored the consistent productivity of Cardano, with a significant number of developers and repositories actively contributing to the expansion of the blockchain.

While not fully endorsing the specific figures presented in the report, which include 170 full-time developers, 490 monthly active developers, 2,796 repositories, and an estimated one to three million commits, Hoskinson conveyed his optimism by stating, “They’re moving in the right direction, and the trend lines are also looking really good.”

In addressing upcoming challenges and opportunities, involving aspects such as governance key management and the role of institutions in fostering ecosystem growth, Hoskinson emphasized the importance of continuous community discussions, debates, and improvements to guarantee the ongoing success of Cardano.

Despite a 27% decline in ADA, Cardano's native token, following the sell-off triggered by the approval of the spot Bitcoin ETF, Hoskinson remains steadfast in his optimistic outlook. Currently, ADA is exchanging hands at $0.47, marking a 4.88% decrease in the past 24 hours. Nevertheless, the price stands resiliently above a critical support level of $0.4, indicating the potential for a rebound.