Cardano Founder To ADA Critics, “We Are Holding All The Cards”

As the new week begins, Charles Hoskinson, the vocal Cardano founder has responded to the slew of derogatory comments that the native coin of the network has received from critics recently.

Charles Hoskinson Touts Cardano’s Milestone

One such criticism was from cryptocurrency enthusiast Ben Armstrong who said that ADA is dead. According to Stake With Pride, Ben discarded his “mismanaged” ADA staked pool prior to this statement. Hoskinson’s response to the Cardano criticism was directed at setting the record straight to avoid misconceptions about the network.

Firstly, he assured his followers on X that Cardano was holding all the cards as an ecosystem. He claims that the Cardano blockchain has the best path for scalability, governance, and innovation. Hoskinson also acknowledged the input of the community to the success of the blockchain. 

Cardano planned the launch of the Plutus V3 development tool and the Chang hardfork for the first quarter of this year with a focus on redefining the Cardano blockchain trajectory. The Chang Hardfork is beyond an upgrade as it is also a strategic milestone in ADA’s journey toward complete community governance. 

Furthermore, it marks the inception of the Voltaire era and aligns with Cardano’s ambitious roadmap for 2024 as outlined in the CIP-1694 proposal.

Plutus V3 upgrade, on the other hand, is expected to drive demand for ADA and improve performance on the Proof-of-Stake (PoS) network. This would be achieved through the introduction of advanced primitives and tools, empowering developers to create more sophisticated smart contracts with enhanced performance, throughput, and size optimization. 

Cardano Research Prowess

Its support for the Zero-Knowledge proofs (ZKP) creates a path for privacy-enhanced solutions and interoperability with partner chains like Midnight, per a statement from a Cardano enthusiast. Noteworthy, Plutus V3 was finally introduced for testing on SanchoNet in February. 

Considering the progress seen on SanchoNet, the Cardano founder stated that the Chang upgrade is coming soon, giving the community what to watch out for. In terms of research, Hoskinson highlighted that Cardano has achieved up to 209 papers that can be easily translated.

“The problem with our industry is that we let short-term narratives and carnival barkers dominate the conversation. AI has the same issue. A few months ago, Open AI dominated everything, then claude 3, now we got Grok 1.5, and soon Llama 3,” Hoskinson added.