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Arthur Hayes called the ADA token “dog crap”

Former BitMEX CEO Arthur Hayes called Cardano's native blockchain token (ADA) “dog crap” due to low usage in the protocols.

He attached a screenshot to the post on X, which shows the commission received by various decentralized applications.

“For anyone who believes in ADA, which application on this list was originally launched on Cardano or has an application on the network that is actively used? Based on my very limited knowledge, it appears none of them did,” Hayes wrote.

The identified projects included Kwenta, Gains Network, Aura Finance, Curve, Aave, MakerDAO, Uniswap And Lido Finance.

According to the former head of BitMEX, the lack of actively used dappcreated or available on Cardano, demonstrates the inefficiency of the platform.

Considering the manner of blockchain founder Charles Hoskinson answer sharply to criticism, this time his comment turned out to be more restrained.

“Arthur, why are you throwing shade at Cardano? I like you dude,” he wrote.

Then Hayes statedthat he “likes Hoskinson too,” but did not retract his words about ADA, advising him to buy Ethereum.

Previously, the founder of Cardano expressed skepticism regarding the development of second-layer solutions on the Bitcoin blockchain.

In November 2023, Hoskinson and Blockstream CEO Adam Back argued about the decentralization of Bitcoin. The first suggested that a 51% attack would only require three subpoenas against the owners of the largest mining pools.

In October, the head of Cardano accused Ethereum of plagiarizing the Ouroboros consensus protocol.

Source: Cryptocurrency

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This article is published in issue 18 of Vanity Fair on newsstands until April 30, 2024. Join your hands proudly.

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