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The founder of IOG, the company that built the Cardano blockchain, Charles Hoskinson has taken to his X (widely known as Twitter) account in the past to discuss why the sentiment around the network he built has become more negative recently.
Hoskinson believes he knows the reason for this negative sentiment escalation, and he addressed it in a long read published on X today. He believes it has to do with the Voltaire era, which the blockchain entered recently.
Voltaire era opens up new opportunities
Hoskinson believes that the reason negative sentiment around Cardano has been climbing recently is not about Cardano “somehow failing” but “rather the desired result of Voltaire.” Cardano was transitioned into this era on Sept. 1.
Now, that Voltaire has arrived, Hoskinson said, the governance can finally address all that was desired but impossible to do before the start of the new Cardano era: “pent-up grievances, unexplored road map items, unfunded growth strategies, and needed partnerships.”
You all may have noticed that the Twitter sentiment around Cardano has been more negative lately. This change isn't a reflection of our project somehow failing, but rather the desired result of Voltaire.
— Charles Hoskinson (@IOHK_Charles) October 10, 2024
There have been years of pent-up grievances, unexplored road map items,…
The founder confessed that he has his own list of issues that it was impossible to deal with before Voltaire.
"Cardano isn't dying"
Charles Hoskinson reminded the community that a Cardano Native Asset (CNA) is being built on the blockchain now – the Midnight (NIGHT) network focused on privacy and private smart contracts.
Hoskinson said that he is taking a direct role in building Midnight, in particular, related to custody and liquidity. The government of Cardano “by and for the people” will work to do its part as well. That is an “onchain government in more than 100 countries that never sleeps and is very passionate about integrity,” he reminded his audience.
At this point, the mathematician mentioned a key difference that he believes exists between Cardano and the rest of the cryptocurrency industry - “we all do this together and out in the open.” That is why, Hoskinson claimed, Cardano is “loathed by a lot of others.”
“Their backroom deals and dirty tricks can't be hidden because there is no one to ask to do it under the table,” Hoskinson added.
“It's also one of the last cryptocurrencies that still wants to be a real cryptocurrency and not the patron of Blackrock and Wall Street for number go up preferences,” he said, perhaps hinting at spot ETFs, in which ADA is not involved.