In a robust rebuttal to widespread media speculation about Cardano’s profitability, founder Charles Hoskinson provided a detailed overview of upcoming changes and initiatives that he believes highlight the cryptocurrency’s solid health and promising future.
Cardano founder sharply criticizes Crypto Media
IN statement via X, Hoskinson expressed his frustration with the current narrative surrounding ADA in the crypto media landscape. “Never in my career have I seen such a deep disconnect between reality and the opinions of an influential crypto player and the media’s perception of Cardano versus its actual fundamentals,” he stated.
He emphasized that Cardano is on the verge of significant events, including what he describes as “the most important hard fork in the project’s history.” The upcoming Chang Difficult Fork represents a key evolution for Cardano, handing over full control of the protocol to the community.
This move will burn all seven genesis keys, thus marking a historic step towards complete decentralization. The update, which is expected to significantly improve on-chain management in line with CIP-1694, will also include the introduction of delegated representatives (DReps), which will further decentralize decision-making processes in the ecosystem.
Beyond the strenuous fork, Hoskinson highlighted several other initiatives that could catalyze growth and innovation in the ecosystem. These include the introduction of modern technologies such as Hydra, a layer two scalability solution designed to enhance transaction speeds and reduce costs, which is currently maturing. Additionally, Hoskinson highlighted that Cardano boasts several partner networks with Midnight and Prism.
The energetic participation of the Cardano community is evident in the rapidly growing number of DApps, significant research and development in blockchain scalability, and the organization of major events such as the Infrequent Evo blockchain convention (August 15-17)Cardano Foundation Summit in Dubai (October 23-24) and participation in TOKEN2049 in Singapore (September 18-19).
Moreover, the Project Catalyst initiative continues to drive community-led innovation, providing funding and support for projects that promise real-world applications and solutions. Looking ahead, the Cardano ecosystem is also preparing for a major 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 important hard fork in the project’s history, tons of social DApps are growing rapidly, we are the industry leader in scaling R&D, rare evo will be a huge event, the Foundation summit will be huge, we will be at Token 2049, technologies like Hydra are maturing , we have partner networks, Midnight, Prism, lots of community events, the catalyst, and then the constitutional convention in Argentina,” Hoskinson said.
The ADA founder concluded with a robust message to critics, stating: “Cardano is here to stay and is a behemoth that will drag this industry kicking and screaming, if necessary, towards solving the real economic, political and social problems we want to achieve. everything is beyond pathetic and simply reflects the low quality and little effort they have put into our ecosystem.” This statement not only debunks claims of Cardano’s death, but also challenges the cryptocurrency community to acknowledge and engage with the significant progress that has been made.
At the time of publication, ADA was trading at $0.459.
Featured image from Shutterstock, chart from TradingView.com
