Charles Hoskinson Slams Cardano Foundation President Over Midnight Boycott

by

There seems to be renewed tension at the executive level of the Cardano system, with founder Charles Hoskinson engaging in a public exchange with Cardano Foundation President Frederik Gregaard over Layer-2 advancements on the protocol. This interaction follows Gregaard’s decision to withdraw from the Midnight Network.

Why Midnight Network boycott?

As stated by Gregaard, the Layer-2 systems within Cardano ensure user’s security, scalability, and privacy protection. In particular, he highlighted four notable advancements that are worth keeping an eye on, as emphasized by the Cardano Foundation President.

The initial topic is State-channels, often referred to as “Hydra Head,” offering scalability and high throughput without compromising security. He also discussed Inter-Blockchain Communication (IBC), a feature that enables Cardano to interface with approximately 115 other blockchains in the market.

As a crypto investor, I also learned about two intriguing technologies that Gregaard highlighted during his discussion: Optimistic Rollup, known as Midgard, and the Sky Protocol. Midgard, built upon Cardano’s UTXO model, aims to simplify validation processes, making it more efficient. Furthermore, the Sky Protocol focuses on boosting data accessibility for decentralized applications running on the blockchain, thereby enhancing their overall functionality.

Among the points made, he failed to mention two significant advancements closely linked to Input Output Global (IOG), a co-founder of Cardano. These are the Midnight Network and Partnerchain, which have been the primary focus of IOG’s development work for the last year.

As a crypto enthusiast, I can’t help but be intrigued by the Cardano founder’s hint about Midnight. He suggested that its privacy is so robust, it goes unnoticed even in critical moments. That level of stealth is truly remarkable!

The magic of midnight is that it’s so private that it doesn’t even get mentioned 🙂

— Charles Hoskinson (@IOHK_Charles) January 18, 2025

Cardano needs all the exposure

As a crypto investor, I’m excited about the advancements in the protocol, which welcomes new builders under Project Catalyst. This year, Cardano aims to foster even more innovations through IOG. One significant development on the horizon is the incorporation of RLUSD stablecoin, a move designed to enhance liquidity within our broader ecosystem.

Moreover, Charles Hoskinson has additionally outlined a specific goal to engage in Bitcoin Decentralized Finance (DeFi). This endeavor aims to leverage the vast liquidity that Bitcoin provides, enriching the Cardano ecosystem with advanced smart contract capabilities.

It’s been noted by community members that there seems to be a disconnection between Hoskinson and Gregaard, which they identify as one of the limited challenges facing the Cardano ecosystem.

Read More

2025-01-18 17:49