Cardano Founder Denies Media Claims

Cardano Founder Denies Media Claims

BlockchainAltcoins

By Jakub Lazurek

06 Jun 2024 (13 days ago)

4 min read

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Cardano founder Charles Hoskinson rebuts media claims about ADA's decline, highlighting significant upcoming developments and the network's promising future.

In a strong rebuttal to media speculation about Cardano's viability, founder Charles Hoskinson outlined upcoming developments, emphasizing the cryptocurrency’s strength and bright future.

Hoskinson voiced frustration on X about the narrative surrounding ADA in the crypto media. “Never in my career have I seen such a profound disconnect between reality and opinion with the cryptocurrency influencer and media perception of Cardano versus its actual fundamentals,” he stated. He emphasized that Cardano is nearing significant developments, including what he calls the “most significant hard fork in the history of the project.”

The upcoming Chang Hard Fork will transfer control of the protocol fully to the community, burning all seven genesis keys. This move is a historic step toward full decentralization. The upgrade will enhance on-chain governance as outlined in CIP-1694 and introduce delegated representatives (DReps) to decentralize decision-making further.

Beyond the hard fork, Hoskinson highlighted several initiatives to spur growth and innovation within the ecosystem. These include new technologies like Hydra, a layer-two scalability solution designed to improve transaction speeds and reduce costs, which is now maturing. Additionally, Cardano has partner chains such as Midnight and Prism.

Cardano’s active community is evident in the growing number of DApps, significant research in blockchain scalability, and major events like the Rare Evo blockchain convention (August 15-17), the Cardano Foundation Summit in Dubai (October 23-24), and TOKEN2049 in Singapore (September 18-19). The Project Catalyst initiative continues to drive community-led innovation, providing funding and support for projects with real-world applications. Looking ahead, the Cardano ecosystem is preparing for a significant constitutional convention in Buenos Aires, where delegates will ratify a final version of Cardano’s Constitution, establishing a framework for decentralized governance.

Hoskinson firmly stated, “We are on the verge of the most significant hard fork in the history of the project, tons of community DApps are growing rapidly, we are leading the industry in scaling R&D, Rare Evo is going to be a huge event, the Foundation Summit is huge, we’ll be at Token 2049, technologies like Hydra are maturing, we have partner chains, Midnight, Prism, tons of community events, Catalyst, and then the constitutional convention in Argentina.” This highlights the extensive ongoing and future initiatives aimed at strengthening Cardano’s position in the industry.

Hoskinson concluded with a strong message to critics, asserting, “Cardano is here to stay, and it’s a juggernaut that will drag this industry kicking and screaming if it has to towards solving the real-world economic, political, and social issues we all face.” He criticized the low-quality media coverage, challenging the cryptocurrency community to recognize and engage with the substantial progress being made.

The Chang Hard Fork will be a landmark event, transitioning control of Cardano’s protocol entirely to the community by burning the seven genesis keys. This crucial step will enhance decentralization and empower the community in governance decisions, setting a new standard for blockchain networks.

Cardano is also progressing with technologies like Hydra, which aims to improve scalability and transaction efficiency. Partner chains such as Midnight and Prism are vital to Cardano’s growth, showcasing the network's capability to collaborate and innovate.

Cardano’s robust community is reflected in the increasing number of DApps and significant blockchain research efforts. Major upcoming events include the Rare Evo blockchain convention, the Cardano Foundation Summit, and TOKEN2049. These events, along with the Project Catalyst initiative, highlight the ecosystem’s commitment to fostering innovation and practical solutions.

Hoskinson’s detailed overview of Cardano’s upcoming developments and initiatives strongly refutes claims about its decline. From the significant Chang Hard Fork to technological innovations and active community engagement, Cardano is poised for a bright future. Hoskinson’s vision and the ecosystem’s efforts highlight Cardano’s potential to lead the industry in addressing real-world challenges. The founder’s strong message to critics reinforces Cardano’s commitment to progress and innovation, making it clear that Cardano is here to stay.

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