Cardano Founder: The next generation of crypto projects needs to build a more collaborative token economy and market structure

ChainCatcher News, according to Cointelegraph, Cardano founder Charles Hoskinson stated that the next generation of cryptocurrency projects need to adopt a more collaborative strategy to counteract large centralized tech companies entering the Web3 field.

He pointed out that cryptocurrencies and DeFi are often limited by a "circular economy", where the rise of one cryptocurrency often comes at the expense of capital outflows from another token. This hinders the growth of the entire industry. To effectively respond to competition from centralized tech giants in the Web3 field, cryptocurrency projects need to build a more cooperative token economics and market structure.

Hoskinson said that current token economics and market structures in crypto are antagonistic and need to shift towards cooperation and balance. Existing projects often sacrifice others for their own development which is not conducive for industry progress, making it difficult to resist future entries by giants like Apple or Google. He predicts that US antitrust laws may pass before September when these giants will flood in; therefore, infrastructure must be built within crypto space as preparation. For this reason, Cardano is developing Minotaur - a multi-resource consensus protocol - unifying block reward payments.