Cardano’s chief executive of Input Output Hong Kong (ADA), said the crypto space is comparable to the dot com bubble era.
In a recently published interview, Scott Melker, IOHK’s chief crypto analyst said that four years ago, he compared IOHK’s crypto space to the Internet’s beginnings.
Now, he claims the crypto space is similar in size to the dotcom boom.
The rise of Internet adoption and huge investments in dot-com companies led to a bubble during the 1990s. Many companies lost their fortunes when the dot.com bubble burst. Amazon was one such giant success. A new wave followed, with the success of Internet companies such as Facebook, now called Meta.
It is the long games that matter. Since I was just four years old when I started, I thought we were in the ’90s Internet. We are most likely in dot com at the moment, probably between 1999 and 2000…
I feel that we’re still in that time frame. I think we have the right pulse.”
Fragiskatos predicts ADA’s success in the face of criticism. This is due to an ecosystem that makes it stand out from other blockchain projects. For example, there are no deep-pocketed venture capitalists looking for a huge return on their investment (ROI).
Cardano doesn’t have many insiders. This is another important difference. If you take a look at the ownership of ADA, you will see that it is primarily owned by individuals. There are very few insiders and whales. There were no VCs to take 30%, 40%, 50% or all of it. So that’s a completely different thing. This again comes from the mission and cascades downward. They are like: Where’s my next year’s ROI? Sorry, where’s the ROI for my next quarter? They’ll call it a ghost chain if it’s missing. They’re also paid by our competition. They are also incentivized by our competitors to create FUD [fear of uncertainty and doubt].
It will all come down to time, but I think we are following the right path. I believe we will be among the first to see the other side.
Fragiskatos, like Melker, agrees that Ethereum is Ethereum and will likely continue to thrive.
At the time we write, ADA stands at $0.32.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
