Charles Hoskin Explains Why He Keeps His ADA Portfolio Private

1. Charles Hoskinson explained why he keeps his ADA wallet address private.
2. The primary reason is security-related; he also referenced what happened to Tornado Cash.
3. Hoskinson is also promoting the concept of contingent settlement.

Cardano founder Charles Hoskinson responded to a post criticizing him for keeping his ADA wallet address private. According to him, the sole reason for not disclosing his ADA portfolio to the public is security.

Specifically, Hoskinson said that he is concerned about his security. He then proceeded to cite a number of malicious actions that others might do to him should they find out his wallet address.

As seen in the above X post, Hoskinson referred to the US sanction on crypto mixer Tornado Cash for the latter’s platform being used by some customers for illegal activities. It can be remembered that Hoskinson defended Tornado Cash developers as they merely wrote the code and it was up to the customers on how they used it.

Another thing Hoskinson mentioned in his post is contingent settlement. Cardano community members were made aware of contingent staking, a mechanism being proposed since earlier this year to comply with US regulations.

Contingent staking works in a way that staking pool operators get to decide which users will be allowed to join the pool. Of course, pool operators need to allow only verified and legally-compliant users to join the staking pool and earn ADA rewards.

Meanwhile, contingent settlement may go deeper than staking. As the name suggests, this may now entail a stricter selection of transactions that will get validated — or settled — by the network.

Contingent settlement is still being floated around in the Cardano community and it might take months — if not years — for this to be implemented, should the proposal get the vote of the majority.