IOG CEO Charles Hoskinson took to Twitter to demonstrate off the Cardano ecosystem’s progress over the last three months.
In the area of non-fungible tokens, the proof-of-stake blockchain has made the most significant advance.
In March, NFTs debuted as “CardanoKidz” on the Cardano mainnet for the first time.
During a recent episode on the Hashoshi podcast, Patrick Tobler, founder of NFT-maker, stated that minting NFTs on Ethereum is now “unfeasible” due to the enormous expenses involved:
It is the polar opposite of what a decentralized open ecosystem should be.
Meanwhile, Cardano enables consumers to mint enormous NFT collections that encompass a wide range of genres.
Putting Ethereum to the Test
Of course, Cardano’s application list pales in comparison to that of rival Ethereum, which already features such game-changing apps as Uniswap.
The largest proof-of-stake blockchain has yet to implement smart contracts, slowing the ecosystem’s growth.
This is expected to change on September 12, the day of the Alonzo hard fork combinator event.
Hoskinson recently disputed the significance of network effects, arguing that the IOG’s emphasis on a robust peer review procedure should not be considered “controversial.”