Cardano (ADA) founder Charles Hoskinson, known for his ambitious and bold statements, made new statements.
Charles Hoskinson revealed the project’s biggest mistake in a recent interview.
Hoskinson expressed his deep regret, stating that Cardano’s mistake benefited rival altcoin Solana (SOL).
Recalling that Cardano ranked 3rd on CoinMarketCap in 2021, Hoskinson admitted that they made the wrong investment in the smart contract model with Cardano.
The famous name stated that ADA lost its rise and wave due to wrong investments and that this mistake benefited Solana and he gained.
“Cardano was excited about its long-awaited smart contracts. However, we made the wrong investment because the smart contract model in the project was too rigid and made it difficult for developers to build.
We misinvested in the smart contract model with Cardano… we lost that wave of momentum and Solana won.
This is an extraordinary example of where we’ve made the wrong investment.”
Charles Hoskinson added that despite the mistakes they made with Cardano, he still remains optimistic.
*This is not investment advice.