The Cardano community has responded to the recent poll results for the "Blockchain Life Awards 2024" in a variety of ways, with Charles Hoskinson, the company's founder, offering a harsh assessment (ADA).
The survey, which put Cardano up against other well-known cryptocurrency projects like Ethereum, Solana, and BNB Smart Chain, attracted a lot of interest. Many in the community voiced their displeasure with the outcomes, even though Cardano placed second in the competition for "Layer-1 Solution of the Year."
In a tweet on Wednesday, Hoskinson attacked the poll, saying that it was "engineered to produce an outcome prior to a single vote being cast." He claimed that the poll's organizers were skewed in favor of the winners and that numerous projects and people were not allowed to vote.
Hoskinson remarked, "I love how people are getting excited about this poll." It was designed to have a result before a single vote was cast. The winners are connected to the organizers. Many projects and people were left off since they wouldn't even let people enter custom fields. There is one thing that is certain. Cardano usually prevails in fair votes, according to Hoskinson.
Supporters of the ADA gave Hoskinson support when they pointed out that there is a difference between market capitalizations and poll rankings, indicating that Cardano's appeal goes beyond its place in the market. One user went by the pseudonym "Cardano DApp ₳nalyst."
"People don't genuinely believe Ethereum is the future, as evidenced by the fact that ETH SOL BNB has a larger market capitalization and Cardano received 3.6 times more votes than Ethereum. Cardano is, and the market capitalization will soon demonstrate this," he added.
Notably, the debate over the survey comes amid a larger wave of doubt and criticism aimed at the Cardano ecosystem. Notwithstanding claims of Cardano's technological prowess and promise, some have expressed worries about what they see as the platform's drawbacks. Given the existence of more recent and sophisticated networks, a few users have voiced their displeasure with the exorbitant expense of maintaining ADA membership. Concerns have also been expressed on how the current bear market would affect Cardano's ability to expand in the future.
The Cardano community has persevered and is positive in spite of the difficulties; Hoskinson has been known to advise users to maintain composure in the face of remarkable network fundamentals. As far as developer involvement goes, Cardano is the most actively developing cryptocurrency blockchain, surpassing even industry giants like Ethereum, according to recent statistics from crypto analytics company IntoTheBlock.
Furthermore, the spectacular price increase of ADA in QI of this year—which saw a phenomenal spike of over 70%, culminating in a mid-March price of $0.81—is probably a result of the increased developer activity on Cardano. But since then, ADA has fallen by almost 28% as a result of a larger decline in the cryptocurrency market, and analysts are now searching for a potential support level at $0.45.
April 2024, Cryptoniteuae