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Charles Hoskinson, the Cardano founder, has branded claims that he runs the ecosystem a “latency of fabrication.”
In a tweet today, the industry leader rebuffed speculations that he runs the Cardano ecosystem. He described the perspective as misinformation and stated that correcting fabricated claims like it typically takes years and millions of dollars.
According to him, such comments would continue to pop up in the crypto community even in the next five years, branding it a “latency of fabrication.”
Cardano Founder Suggests It Would Take Time
For context, Hoskinson’s recent comment came as a response to a post that associated Cardano with centralization. A user claimed in a Tuesday tweet that three entities-the Cardano Foundation, the Input Output Global (IOG), and the EMURGO—run the blockchain.
The user insisted that this alleged centralized feature of the Cardano ecosystem makes the chain second fiddle to the Bitcoin network. However, this centralization claims have sprung up at an inopportune time, considering the months-long network development in the ADA blockchain.
For perspective, the major firms in the ecosystem burnt their genesis keys ahead of the Chang upgrade, relinquishing their control mechanism to every ADA holder.
The September 1 hard fork introduced complete decentralization to the Cardano network, giving power to holders of ADA, the native token of the blockchain. This bred the creation of the constitutional committee (CC) and the decentralized representatives (DReps), both efforts at bolstering decentralized governance.
Meanwhile, while this government is fully in its stride, Hoskinson suggested it would take a few more years and massive publicity for some market users to grasp this transition. He insinuated there would always be a knowledge lag before a broader acceptance and adoption.
The Bitcoin Supremacy Debate Reignites
Moreover, the critic’s comment trailed a Cardano enthusiast’s argument that the layer 1 network could augment Bitcoin’s imperfect proficiency. User Che DeBarna agreed with a narrative that Bitcoin remains indispensable and there could not be a “better Bitcoin.”
While admitting to Bitcoin’s limitations, the reaction suggested that a partnerchain with Cardano would compensate for the drawdowns of the network housing the largest cryptocurrency by market cap. He highlighted Cardano’s lighter UTXO chain, similar security, and deterministic smart contract, among others, as features it could bring to the Bitcoin ecosystem.
Notably, Cardano’s EMURGO allied last year with BitcoinOS to incorporate decentralized finance (DeFi) features into the Bitcoin network. In turn, the collaboration will unlock trillions worth of liquidity for the Cardano ecosystem.