Although Cuban praised Cardano’s deal with Ethiopia, he made it clear that he was not convinced by the platform’s real usefulness and questioned why Cardano did not yet have smart contracts
Mark Cuban, a billionaire investor and avowed fan of Ethereum, made statements about the Cardano cryptocurrency (ADA) in a Twitter post. He said he thinks what Cardano has done in Africa is great, but has yet to see an interesting app that is based on the platform.
It all started when the digital currency hit a new price record over the past week, the billionaire then decided to ask on Twitter what was the use of cryptocurrency and said he asks this question about any digital asset.
Cardano founder responds
Like several cryptocurrencies, Cardano has been trying to court Elon Musk after he abandoned Bitcoin for his Energy consumption.
Cardano founder Charles Hoskinson paused in an attempt to lure Tesla’s CEO to try to convince Cuban that Cardano is a good project.
He explained the characteristics of his platform to the billionaire and stated that the big question about the relevance of a cryptocurrency is beyond the transaction fees or the number of transactions per second.
He said his project is focusing on the asset’s real usefulness, network effect and significant user growth.
The tweets attracted several Cardano fans who asked the American billionaire to take a better look at the platform.
Mark Cuban praises Cardano, but …
Mark Cuban replied that he does not believe that Cardano has sufficient utility and support, particularly mentioning that he never found a useful Cardano-based application.
Hoskinson did not like it very much and emphasized that Cardano-based projects are already used by five million students in Ethiopia and that thousands of assets have been launched in the Cardano network.
He also stated that a “beautiful DApp ecosystem” will be developed with Cardano’s smart contract function.
Although Cuban praised Cardano’s deal with Ethiopia, he made it clear that he was not convinced by the platform’s real usefulness and questioned why Cardano did not yet have smart contracts.
In response, Hoskinson said the entire smart contract model was rebuilt at Cardano, he said, it took four years.
He also recorded a video to try to better explain to the billionaire what the platform intends to launch in the future.
Mark Cuban did not respond anymore. At least for a while.