Dogecoin Is More Useful Than Cardano, Billionaire Mark Cuban Claims

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Alex Dovb­nya

Mark Cuban says that Car­dano has failed to make any sig­nif­i­cant impact since launch­ing smart contracts

In a recent inter­view with cryp­tocur­ren­cy-focused YouTube chan­nel Alt­coinDai­ly, bil­lion­aire Mark Cuban said that he still thinks that Doge­coin, the largest meme cryp­tocur­ren­cy, has more appli­ca­tions than Car­dano. Cuban said:

The oppor­tu­ni­ty for Car­dano is greater until Doge real­ly becomes a plat­form for applications.

The “Shark Tank” star took a dig at Car­dano, claim­ing that peo­ple in Africa are not using the blockchain as much as they expect­ed to.

Cuban not­ed that the Ethereum com­peti­tor had made very lit­tle impact despite launch­ing smart con­tracts almost a year ago.

 This is not the first time that the bil­lion­aire investor, who made a for­tune dur­ing the dot-com boom in the late 90s, has ques­tioned Car­dano’s util­i­ty. Last May, Cuban tweet­ed that he was unaware of any poten­tial use cas­es for the pop­u­lar proof-of-stake blockchain.

Cuban is con­cerned by the lack of inno­va­tion in the cryp­tocur­ren­cy space. “Rather than see­ing true inno­va­tion, you see repli­ca­tion,” he said.

Speak­ing of the upcom­ing Merge upgrade, Cuban said that there was a lot of uncer­tain­ty around Ethereum’s tran­si­tion to proof-of-stake. He is con­vinced that the blockchain’s suc­cess will large­ly depend on whether more appli­ca­tions man­age to gain adoption.

The Dal­las Mav­er­icks own­er also weighed in on reg­u­la­tion, crit­i­ciz­ing the U.S. Secu­ri­ties and Exchange Com­mis­sion’s “reg­u­la­tion by lit­i­ga­tion” approach. At the same time, he says that he avoids men­tion­ing Rip­ple because of its over­ly aggres­sive community.

The reg­u­la­to­ry uncer­tain­ty caused by the reg­u­la­tor is the rea­son why there are more cryp­to com­pa­nies in Sin­ga­pore and the Bahamas, accord­ing to Cuban.

The bil­lion­aire also railed against those investors who buy vir­tu­al land in the Meta­verse, say­ing that “dumb” is not a strong enough word to char­ac­ter­ize them. Vir­tu­al land sales have plum­met­ed in recent months amid the cryp­to rout.

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