Charles Hoskinson Claims Thousands of Assets Live on Cardano, but How Many are Useful?

Prashant Jha
July 5, 2021 Updated June 18, 2025
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Cardano Founder Charles Hoskinson Backs John Deaton

Cardano (ADA) is currently in a key transition phase, moving towards becoming a smart contract compatible blockchain with Alonzo hardfork. However, critics beleive the network hasn’t delivered on its promises. One Twitter user pointed toward the last year’s tweet made by founder Charles Hoskinson on what the network would be capable of in a year.

Hokinson responded to the tweet suggesting there are currently thousands of assets live on the Cardano blockchain and more are joining with each passing day.

While Hoskinson is not wrong when he claims there are thousands of assets and tokens live on the platform as the functionality was integrated into the network with Mary Hardfork. However, out of those thousands, only a couple of tokens can be deemed active or functional.

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A Significant Majority of Listed Tokens on Cardano are Inactive

The Cardano blockchain boasts over 6,500 listed assets but only two of these tokens have notable transaction activity with over 10,000 transactions per second. While the fourth-largest blockchain by market cap is not new to criticism and many have even called it a ghost blockchain, Hoskinson has maintained that they don’t pay much heed to trolls and only focuses on development.

The smart contract integration currently underway would make Cardano more compatible with Dapps and also help it compete against the likes of Ethereum, Solana, and Polkadot. The Alonzo hard fork is in full swing with the first successful testnet deployment and smart contract compatibility by August end.

The price of ADA is currently trading at $1.41 and the altcoin was recently included in Grayscale’s popular Digital Large Cap Fund with the third-highest allocation after Bitcoin and ethereum.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.