untitled design

Charles Hoskinson: Cardano is misunderstood

Charles Hoskinson criticized the cryptocurrency media for being biased towards Cardano. According to him, many articles about the platform mislead users.

In a recent post on X (formerly Twitter), Hoskinson notedthat Cardano has many features. However, blockchain is not getting the recognition it deserves due to misperceptions among the public.

Hoskinson proposes creating a DAO to control the media

There have been many positive developments in the Cardano ecosystem in recent months. In March, the project entered the top of the most “developed” altcoins, in early April Hoskinson spoke about two large-scale network updates, and in May the Cardano Foundation appointed a new chief technology officer (CTO).

However, the media and crypto influencers continue to talk about calling Cardano an outsider of the crypto industry and pointing out the failures of the blockchain.

Hoskinson criticized this point of view. He highlighted all the recent achievements of the ecosystem and recalled the upcoming hard fork, asserting that Cardano will continue to offer the most innovative solutions and prosper.

“This is simply pathetic and reflects the poor quality and quantity of effort they put into our ecosystem. Cardano is here to stay, and it is a mastodon that, if necessary, will drag this industry through the thorns and growls to solve the real economic, political and social problems we all face,” the network’s founder wrote.

In response to the bias, Hoskinson is considering creating a decentralized autonomous organization (DAO). According to him, she will focus on ensuring fair journalism in the crypto industry.

To see what the community thinks about such an idea, the founder of Cardano even conducted a survey. According to preliminary results, 70% of respondents support the decision to use the project treasury to fund the DAO. Voting ends on June 13.

Attacks on Cardano and Hoskinson’s reaction

This is not the first time Cardano has come under criticism from members of the crypto community or even industry leaders.

Previously, Forbes included Cardano’s native coin, ADA, in its list of “zombie tokens.” Experts noted that the high market value of the asset does not correspond to its minimal practical use. In their opinion, the network has not yet moved beyond the pilot stage.

Following this, former BitMEX CEO Arthur Hayes called ADA “dog crap.” He emphasized that the asset does not carry any utility, so protocols do not use it. The Cardano founder responded to the accusations by highlighting Hayes’ unjustified rudeness.

In early May, Cardano was also criticized by MicroStrategy founder Michael Saylor, who stated that all altcoins would be recognized as securities this summer.

Still, the chain continues to highlight its technological prowess. Cardano is at the forefront of scaling research and development. Recently the blockchain platform entered into a partnership with the Argentine province of Entre Rios to promote digital assets.

Development of Cardano. Source: Input Output

Source: Cryptocurrency

You may also like

Binance trader arrested in Uzbekistan
Top News

Binance trader arrested in Uzbekistan

In Uzbekistan, a resident of Tashkent was arrested for violating legislation in the field of circulation of crypto assets. This

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular