The termination of the Ardana and Orbis projects has sparked debates in the community. Investors are disappointed. The reality is that 90-95% of startups fail. In the blockchain industry, the score will be likely slightly worse. I wouldn’t be afraid to say that 99% of projects will fail. Cardano will survive third-party project failures just like all other smart contract platforms. There are currently several hundred projects being built. Even if we are big pessimists, we can say that in a few years we can have 10 successful projects with a large number of users. This number, with competition at its back, is amply sufficient for Cardano’s success. We could conclude that almost nothing has actually happened and end the debate there. However, it would be a shame not to take some lessons from the event.
- If the CEO of the Ardana project had paid the developers above average, he could have had 50 of them for 4 years.
- It’s normal for a project to fail. In the blockchain industry, transparency is expected when a project is funded by the community.
- Blockchain is an industry like any other, even riskier, so the same laws apply there as anywhere else.
- The Orbis project applied for $1M in Catalyst Fund 8.
- If a third-party project fails, it’s a failure of the team, not the Cardano platform.