The founder of the Cardano (ADA) blockchain, Charles Hoskinson, recently countered criticism related to the project’s advertising supposedly not being as good when compared to Solana (SOL). In one post, a Cardano enthusiast criticized the project for not running ads like Solana to increase adoption of the network.
Hoskinson commented on the matter in a post on App X on January 26th. When responding to criticism, the ADA founder highlighted that “Cardano has a Treasury and community governance”.
“This mentality is an example of everything that is wrong with managing an ecosystem. Cardano has Treasury and community governance. He forms a working group at Intersect, talks to the relevant parties, gets pricing and requirements, gets the community to vote to approve the plan and financing, and then executes.
Instead, someone else spends ten million dollars (2021 price, who knows now), does all the work, and somehow it all works out? Decentralized protocols and governance are what you personally implement. Circle and USDC are an example of this concept. The same happens with marketing, partnerships, growth hacking, roadmap and other concerns. This is the point of decentralization”, he stated.
This mindset is an example of all that is wrong with how to run an ecosystem. Cardano has a Treasury and has community governance. Form a working group at Intersect, talk to the relevant parties, get prices and requirements, have the community vote to approve the plan and… https://t.co/B52SZxj7TU
— Charles Hoskinson (@IOHK_Charles) January 26, 2024
At the time of publication, the price of Cardano was quoted at US$0.4885 with an increase of 5.1% in the last 24 hours.
Charles Hoskinson Rebuts Critical Report and Defends the Vitality of the ADA
A recent analysis by K33 Research has cast doubt on Cardano’s real-world usefulness. This hard-hitting report, titled “Why You Should Sell All Your ADA (Cardano),” compared activity on the Cardano network to other prominent altcoins like Ethereum, Solana, and Avalanche. The central criticism focused on the supposed lack of real activity, despite Cardano recording an average of 90,000 daily transactions.
Charles Hoskinson, the visionary founder of Cardano, quickly spoke out against these claims. In a world where the credibility of information is crucial, Hoskinson questioned the legitimacy of K33 Research, responding to a request for comment on social media with a simple “Who? I’ve never heard of them.” This response, while brief, highlights skepticism regarding the source of the report and its validity.
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