IOHK CEO Charles Hoskinson has claimed that there “thousands of assets” on the Cardano network in response to a recent criticism leveled against the cryptocurrency by the Twitter account Undervalued Cryptos. Hoskinson retorted that there are “tons” of developers learning, training, and writing about the ecosystem and many applications are launching on the network.

There are thousands of assets on Cardano. I guess you haven’t been paying attention. Tons of devs learning, training, writing. Lots of launch apps.

— Charles Hoskinson (@IOHK_Charles) July 4, 2021

Hoskinson Defends Cardano Against Criticisms Surrounding Its Activity

Lately, Cardano has come under fire from Ethereum holders and skeptics, who’ve claimed the currency has failed to achieve the goals outlined by Hoskinson in a 2020 tweet. The Ethereum co-founder had written in July 2020 that the Cardano network would have “hundreds of assets, thousands of DApps, tons of interesting projects and lots of unique use and utility” by the next year. 

Now, with only a few weeks left to deliver on his goals, Hoskinson is facing increased scrutiny on social media.

Critics like Undervalued Cryptos suggest there are barely any DApps, assets, and projects on the $ADA while demanding future projections from Hoskinson. 

Data gathered by the Cardano Assets website indicates that there indeed 6,859 assets on the blockchain. However, only two of them record more than 10,000 transactions each month — spacecoins and ADAX. Most tokens issued on top of the chain see no activity at all.

Cardano gave developers the ability to launch native tokens on its proof-of-stake blockchain earlier this year, following the launch of the much anticipated Mary hard fork.

Cardano is Set to Introduce Smart Contracts in Upcoming Update

Presently, the Cardano blockchain has staked more than 70% of ADA’s circulating supply on the upcoming Alonzo upgrade. The hard fork will bring smart contracts to the network, which will enable it to host decentralized finance(DeFi) applications.

Alonzo will be implemented in three phases, with each opening up more of the public until it’s completely integrated. As of now, the team at IOHK has rolled out Alonzo’s blue phase. The entire process is expected to take 90 days, which means that smart contracts should be enabled on Cardano by August.