cryptopolitan.com
Cardano’s founder Charles Hoskinson is calling out the cryptocurrency community. In a blunt statement on Twitter, he accused critics of targeting Cardano unfairly while backing shady projects.
According to Hoskinson, this negative sentiment isn’t because his work is failing but because the Voltaire governance era has begun, allowing real grievances to come to light. In his own words:
“There have been years of pent-up grievances, unexplored road map items, unfunded growth strategies, and needed partnerships that haven’t been addressed due to Cardano’s governance not scaling to meet the needs of the ecosystem.”
He specifically mentioned the challenges with Cardano Native Assets (CNA) and stablecoin support. He said that while Cardano operates transparently and publicly, other projects rely on secretive deals and short-term thinking. Hoskinson said:
“I’m keenly aware of the things that need to be done for CNAs from custody to liquidity. I’ll do my part, but I’m glad we have an actual government by and for the people of Cardano to work with to also do their part. It’s the same for stablecoin support.”
Hoskinson’s rocky reputation and community backlash
You see Hoskinson’s relationship with the community has always been a bit complicated. His decision to leave Ethereum (something he co-created) and public criticism of it has left many with a negative perception of him.
This has led to persistent attacks on both the Foundation, Cardano, and ADA. The network’s methodical, research-based approach isn’t popular.
It is the direct opposite of crypto’s typical fast-paced nature, leaving investors frustrated.
Cardano has often called itself an “Ethereum killer,” which only makes the hostility between the communities even worse.
Some see Hoskinson’s criticisms of Ethereum as arrogant, while others simply dismiss the project as vaporware.
Adding to the tension, the crypto community thrives on trolling and public takedowns. Groups within the community often zero in on certain projects, amplifying negative sentiments and creating an echo chamber of criticism that can be hard to break out of.
The summit and community events
Despite all the negativity though, Cardano is pushing forward. The Cardano Summit 2024, happening from October 23rd to 24th in Dubai, is expected to draw over 10,000 people from 25 countries and industries.
This major event will focus on infrastructure, governance, education, and adoption.
Attendees will hear from industry leaders, participate in keynotes, panels, and masterclasses, and witness innovative blockchain projects in the “Battle of the Builders” competition.
Cardano has actually lined up a series of community events globally between October 4 and November 3, with 20 events planned in 25 countries.
The summit in Düsseldorf, Germany, on October 11-12 will focus on tokenization and financial innovations.
In Buenos Aires, Argentina, a key event is scheduled for October 18, discussing local blockchain initiatives. London, Amsterdam, and Bangkok will also see their own blockchain-related gatherings.
Technological advancements driving Cardano forward
A major milestone was reached yesterday when the blockchain facilitated its first legally binding smart contract in Argentina.
The contract was a loan agreement for 10,000 ADA (about $3,362) at 10% interest over four months. It was notarized, complete with all the legal documents needed for enforcement under Argentine law.
Cardano’s Chang hard fork also happened on September 1. The update launched the long-awaited Voltaire governance model, transitioning Cardano to a decentralized system where ADA holders can vote for Delegate Representatives (DReps).
The Chang upgrade also implemented CIP-1694, an important update that allows users to have a direct say in protocol upgrades and governance changes.
Beyond governance, the hard fork brought several technical upgrades to improve transaction processing and security, making the network more efficient.
In his tweet, Hoskinson said, “Cardano isn’t dying. It’s thriving and growing. It’s also one of the last cryptocurrencies that still wants to be a real crypto and not the patron of BlackRock and Wall Street for number go up preferences.”