‘Cardano Isn’t Dying, It’s Thriving and Growing’: Charles Hoskinson

by

As a seasoned analyst with over two decades of experience in the cryptocurrency industry, I have witnessed the ebb and flow of sentiment around numerous blockchain projects. The recent negativity surrounding Cardano, built by the industrious Charles Hoskinson, caught my attention, prompting me to delve deeper into the matter.

Charles Hoskinson, the creator of IOG – the organization behind the Cardano blockchain, has previously used his social media platform (commonly recognized as Twitter) to share his thoughts on why the general opinion about the network he established has turned more critical in recent times.

As an analyst, I’m sharing my perspective based on Hoskinson’s recent publication. He posits that the intensified negative sentiment we’re experiencing could be linked to the modern-day equivalent of the Voltaire era, which the blockchain has just ventured into.

Voltaire era opens up new opportunities

According to Hoskinson, the increasing negativity surrounding Cardano isn’t because it’s “failing” in some way, but rather a deliberate outcome orchestrated by Voltaire. The transition of Cardano into its current phase occurred on September 1st.

With Voltaire now present, Hoskinson stated that the governance is finally in a position to tackle all the issues that were previously unattainable prior to the beginning of the new Cardano era: “long-standing complaints, uncharted plans, unfunded development strategies, and vital collaborations.

Lately, you might have observed that discussions about Cardano on Twitter have become more critical. However, this shift isn’t indicative of our project faltering in any way; instead, it’s part of the deliberate strategy we’re implementing, known as Voltaire’s approach. Over time, there have been accumulated frustrations and unaddressed aspects on our roadmap that are now surfacing for constructive criticism and improvement.

— Charles Hoskinson (@IOHK_Charles) October 10, 2024

As a crypto investor, I’ve come to acknowledge that the founder had a set of challenges that were beyond resolution prior to the advent of our current platform, similar to pre-Voltaire times.

“Cardano isn’t dying”

Charles Hoskinson emphasized to the community that a Cardano Native Asset, specifically the Midnight Network, is currently in development on the blockchain. This network primarily concentrates on ensuring privacy and the creation of intelligent contracts that operate privately.

As an analyst, I’m sharing that I’ve taken a hands-on approach in constructing Midnight, focusing particularly on aspects such as custody and liquidity. The Cardano government, which embodies the ethos of “by the people, for the people,” is equally committed to contributing its share towards this project. In his address, Hoskinson emphasized that Midnight represents an “around-the-clock, onchain government in over 100 nations, fiercely passionate about maintaining integrity.

At present, the mathematician highlighted a significant distinction he perceives between Cardano and the broader cryptocurrency sector, stating that “we collaborate collectively and transparently.” This, as stated by Hoskinson, is the reason why many view Cardano unfavorably.

“Their backroom deals and dirty tricks can’t be hidden because there is no one to ask to do it under the table,” Hoskinson added.

He mentioned that it’s one of the few remaining cryptocurrencies that aspires to maintain its authentic identity as a digital currency, rather than becoming a tool favored by institutional investors like Blackrock and Wall Street for price increase purposes. This could potentially be referring to spot ETFs, where ADA is not participating.

Read More

2024-10-10 17:08