In a forceful rebuttal to widespread media speculation about Cardano’s viability, founder Charles Hoskinson has provided a detailed overview of upcoming developments and initiatives that he says underscore the cryptocurrency’s good health and promising future. .
Cardano Founder Slams Crypto Media
In a statement via X, Hoskinson expressed his frustration with the current narrative surrounding ADA in the crypto media landscape. “Never in my career have I seen such a deep disconnect between reality and opinion between cryptocurrency influencer and media perception of Cardano versus its actual fundamentals,” he said.
He highlighted that Cardano is on the cusp of significant developments, including what he describes as the “most significant hard fork in the project’s history.” The next Chang hard fork represents a crucial development for Cardano, fully transferring control of the protocol to the community.
This decision will burn the seven keys of genesis, marking a historic step towards complete decentralization. The upgrade, which is expected to significantly advance on-chain governance as outlined in CIP-1694, will also see the introduction of Delegated Representatives (DReps), further decentralizing decision-making processes within the ecosystem.
Beyond the hard fork, Hoskinson highlighted several other initiatives that could catalyze growth and innovation within the ecosystem. These include the introduction of new technologies such as Hydra, a layer two scalability solution designed to improve transaction speed and reduce costs, which is currently maturing. Additionally, Hoskinson highlighted that Cardano can boast of several partner chains with Midnight And Prism.
Cardano’s active participation in the community is evident in the growing number of DApps, significant research and development on blockchain scalability, and the organization of major events such as the Rare Evo blockchain convention (August 15-17)the Cardano Foundation Summit in Dubai (October 23-24) and participation in TOKEN2049 in Singapore (September 18-19).
Additionally, the Project Catalyst initiative continues to be a driving force for community innovation, providing funding and support for projects that promise real-world applications and solutions. Looking ahead, the Cardano ecosystem is also preparing for a major constitutional convention in Buenos Aires, where delegates will ratify a final version of the Cardano Constitution, establishing the framework for decentralized governance.
“We are on the cusp of the largest hard fork in the project’s history, tons of community DApps are growing rapidly, we are leading the industry in R&D development, a rare development will be a huge event, the huge Foundation summit, we’ll be at Token 2049, technologies like Hydra are maturing, we have partner channels, Midnight, Prism, tons of community events, catalyst, and then the constitutional convention. in Argentina,” Hoskinson said.
The ADA founder concluded with a strong message to detractors, saying: “Cardano is here to stay, and it is a heavyweight that will drag this industry kicking and screaming if necessary, towards solving the real world economic, political and social problems we have. everything is beyond pathetic and only reflects the low quality and low effort they put into our ecosystem. This statement not only refutes claims about Cardano’s demise, but also challenges the cryptocurrency community to recognize and engage with the substantial progress being made.
At press time, ADA was trading at $0.459.
Featured image from Shutterstock, chart from TradingView.com
