Hoskinson Reacts to Forbes Criticism of “Zombie Cardano Blockchain”

Recently, a debate heated up the cryptocurrency ecosystem when an investigation highlighted several platforms, including Cardano, Tezos, Litecoin, Algorand, Monero, Ripple, among others, labeling them “zombies” for allegedly having “few users”. Charles Hoskinson, the visionary behind Cardano, was quick to react, choosing humor as his defensive weapon.

According to revelations from a Forbes team, approximately 50 cryptocurrencies are being traded at valuations above 1 billion dollars, and among these, at least 20 have been classified as “functional zombies”. The article, published on March 27, shed a critical light on these blockchains, describing them as assets of “little use” that lend themselves more to speculative trading than real functions, despite accumulating “treasures full of millions” and are not accountable to shareholders or regulators.

Cardano was a particular target of criticism, with the article pointing out that despite generating $3 million in fees over the last year, the Cardano Foundation admits that it has not yet completed its development stages. Additionally, Hoskinson was mentioned in a peculiar way, with details about his ranch in Wyoming, his funding of alien hunters and a center for regenerative and anti-aging medicine, as well as claims about his academic trajectory.

Hoskinson responded wittily, sharing an animation of zombies from the South Park series, including references to Bitcoin Cash, Stellar and Ethereum Classic, suggesting that such “zombies” have “all brains”, in a clear allusion to Forbes.

Hey guys @tezos @Algorand @bitcoincashorg @Ripple_XRP1 @StellarOrg @BobSummerwill we are all Crypto Zombies according to Forbes.

I guess it’s because we got all the 🧠! pic.twitter.com/nwKbf7R4Pb

— Charles Hoskinson (@IOHK_Charles) March 27, 2024

This episode highlights not only the constant tension between cryptocurrency creators and the media, but also the determination of figures like Hoskinson to defend their projects. Cardano, in particular, has faced “dead” criticism several times, similar to Bitcoin, which has been declared “dead” 476 times since 2010.

However, these events reinforce the controversial yet resilient nature of the cryptocurrency market, a field where critics and advocates continue to debate the real value and innovation potential of these technologies.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.