Charles Hoskinson Discusses Future Plans for Cardano
The broader cryptocurrency market is undergoing price fluctuations. Bitcoin, the digital gold, has recently experienced volatility after a long period of consolidation. In the broader financial markets, rumors about an upcoming stock market crash are circulating on the news.
Crypto market is not unaffected from the impact of the Bitcoin’s price volatility. ADA is among the coins that have suffered from a massive price decline recently.
Charles Hoskinson has issued some statements about the ongoing price volatility that the native token of Cardano blockchain has been experiencing. He has maintained that ADA is here to stay. Back in 2020, he claimed that Cardano is going to host hundreds of decentralized projects on the blockchain.
However, X users brought the matter up in 2021 when the prediction was not completed. However, by 2022 Hoskinson had some disputes with Ethereum devs concerning Ouroboros.
Cardano blockchain founder has risen to the occasion to deal with the negative remarks concerning the native currency of Cardano blockchain.
Defending the Cardano blockchain project against claims of the going extinct he retaliated that claims of VC coins, crypto media, and maximalists will not impact the progress the ADA token. He maintained that ADA token is not dead, failing, or irrelevant and it is going to stay functional.
However, Cardano have faced criticism regarding its research process which moves ahead at a slow and steady face. Meanwhile, other crypto projects made rapid progress and undergo considerable price movements in shorter spans.
However, to counter this point Hoskinson shared a post that claimed that Cardano is not plagued with reboots, downtime, DAO exploits, inflation issues, inconsistent roadmap, price changes, low Nakamoto centralization co-efficient, and forks.
Voltaire Update to Maximize Decentralization for Cardano
Cardano is making progress towards becoming a self-contained blockchain project. Since its inception in 2017, the project has maintained zero downtime till date.
Furthermore, the project has retained a massive amount of development activity on GitHub and one of the highest TVLs in ADA. The project launches 130 projects on average per week.
Cardano founder has maintained that the blockchain will set a new standard for decentralization for other networks. He claimed that decentralization is one of the most important features in a distributed ledger.
ADA price fell by 5% during the last week. As per CoinMarketCap, $0.26 per unit with a market cap of $9.08 billion. Gracy Chen the managing director of Bitget told Forbes that Cardano blockchain has on-chain activity in the form of 1,264 projects under development.
She maintained that the blockchain can face issues with some projects not finalizing but it still offers some advantages over other blockchain networks.
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