After a BitBoy video claimed that ADA was gone, the co-founder of Cardano is once again fighting false information.
In the wake of a wave of criticism directed towards Cardano's native token and ecosystem, co-founder Charles Hoskinson has his sights set on two significant enhancements for the Cardano network, at least one of which is scheduled for this year.
In reaction to recent doubts about the blockchain, Hoskinson stated in a post on X on April 7 that "we are holding all the cards as an ecosystem."
"In terms of innovation, governance, and scalability, we have the best route. In response to "all the dunking on Cardano," he continued, "We also have the best community."
Hoskinson's optimism was mostly stoked by the impending Chang hard fork, which is scheduled for the second quarter of this year and is regarded as one of the network's largest hard forks since the 2022 Vasil upgrade.
Chang is the first hard fork of Cardano's roadmap from the Voltaire era. It will allow ADA holders to vote on ideas using their tokens and enable on-chain community consensus, bringing the idea of community-run governance to the blockchain.
It is believed to make it possible for the network to fully decentralize by introducing community governance.
The transition will involve the election of Delegate Representatives (DReps), a Cardano Constitution Convention event, and a Cardano community vote to ratify the initial draft of the Cardano Constitution for the remainder of this year.
Hoskinson continued, "Ouroboros Leios is the biggest step forward towards solving the blockchain trilemma ever."
A new iteration of the proof-of-stake consensus architecture called Ouroboros Leios aims to boost Cardano's throughput, scalability, and transaction speed while preserving the present degree of decentralization.
In response to a video posted on April 7 by Ben Armstrong, sometimes known as "BitBoy," who was debating whether or not Cardano was "dead," Hoskinson made his remarks.
Comparing Cardano to Solana, he said
While Cardano's figures were "not fantastic," SOL, Sui (SUI), and Toncoin (TON) were "blowing up" and "killing it" in terms of users, activity, and price action.
According to Hoskinson, the cryptocurrency sector struggles with storylines that are too brief.
"The issue facing our sector is that we allow circus barkers and fleeting storylines to control the dialogue. AI faces the same problem."
Daniel Friedman, the founder and CEO of zenGate Global, stated on X on April 8 that "the majority of hatred for Cardano is emotional." My choice to construct on Cardano and Ergo was based on both architectural and business considerations. Not a crying fit," he continued.
Dan Gambardello, the founder of Crypto Capital Venture and a supporter of Cardano, hypothesized that the reason for the FUD was that the price of ADA was still below $1.
"Price matters to everyone, even Cardano people who claim not to care about it. You wouldn't see these comments if the price was higher.”
In fact, ADA prices have decreased significantly since the start of 2024 and have been drab this year.
As of the publication of this article, the coin's value was $0.584, down 10% over the previous seven days. Additionally, according to CoinGecko, it has dropped a terrible 81% from its all-time high of $3.09 in September 2021.
April 2024, Cryptoniteuae