In a strong response to widespread media speculation about Cardano's viability, founder Charles Hoskinson provided a detailed summary of upcoming developments and initiatives that he believes underscore the cryptocurrency's robust health and promising future.
Cardano founder criticizes crypto media
in statement Via X, Hoskinson expressed his frustration with the current narrative surrounding the ADA in the cryptocurrency media landscape. “Never in my career have I seen such a deep disconnect between fact and opinion with crypto influencers and the media’s perception of Cardano versus its actual fundamentals,” he said.
He stressed that Cardano is on the verge of important developments, including what he described as “the most important hard fork in the project’s history.” The upcoming Chang Hard Fork represents a pivotal development for Cardano, transferring control of the entire protocol to the community.
This move would burn all seven configuration keys, thus representing a historic leap towards complete decentralization. The upgrade is expected to significantly enhance on-chain governance as outlined in CIP-1694, and 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 aimed at stimulating growth and innovation within the ecosystem. This includes the introduction of new technologies such as Hydra, a scalable Layer 2 solution designed to boost transaction speeds and reduce costs, which is currently in the maturity stage. Furthermore, Hoskinson highlighted that Cardano can boast several partner chains such as Midnight and Prism.
Cardano's active community involvement is evident in the rapidly growing number of decentralized applications (DApps), significant research and development into 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).
Furthermore, the Project Catalyst initiative continues to serve as a driving force for community-led innovation, providing funding and support for projects that promise real-world applications and solutions. Looking to the future, the Cardano ecosystem is also preparing to hold an important Constitutional Convention in Buenos Aires, where delegates will ratify the final version of the Cardano Constitution, further establishing a framework for decentralized governance.
“We are on the verge of the most significant hard fork in the project’s history, many community decentralized applications are growing rapidly, we are leading the industry in scaling R&D, the rare event will be a huge event, and the enterprise summit is huge “We will be in Token 2049, technologies like Hydra are maturing, and we have Partner Series, Midnight, Prism, several community events, Catalyst, and then the Constitutional Convention in Argentina,” Hoskinson said.
The ADA founder concluded with a strong message to detractors, asserting that “Cardano is here to stay, and is a juggernaut that will drag this industry kicking and screaming if necessary toward solving the real-life economic, political, and social issues we face.” All of this is 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 that has been made.
At press time, ADA was trading at $0.459.
Featured image from Shutterstock, chart from TradingView.com
