Cypher
Cardano (ADA)CryptocurrencyNews

Hoskinson Slams Analyst for Cardano Governance FUD Comment

Charles Hoskinson, the inventor of the Cardano blockchain, called out crypto analyst Vanessa Harris on Twitter today for a mistake she made about the Cardano network’s governance structure.

Hoskinson called Harris’ viewpoint “categorically untrue,” warning that such speculation might generate a wave of fear, confusion, and doubt in the crypto community.

Cardano governance under scrutiny

Harris published a 17-part Twitter thread on Cardano governance on Sunday. She added that the Cardano development team, Input Output Global (IOG), developed CIP-1694 always to maintain control over Cardano unless under challenging situations.

Cypher

As a result, the crypto analyst said that Cardano’s governance system was centralized and controlled by a few people, which concerned decentralization proponents.

Additionally, Harris said that normal ADA users could only participate in government if they become Delegated Representatives (DReps). It means that the governing body excludes ordinary users and significantly influences Stake Pool Operators (SPOs) and DReps.

📰 Also read:  Differences Between Monolithic And Modular Blockchains And How They Work

Cardano creator clarifies committees

Rick McCracken, a Cardano community member, suggested that the Cardano creator conduct a Twitter Space to clarify the difference between the Initial Committee and follow-on Committees. McCracken added that Harris’ opinion was based on publicly available information concerning the CIP. Therefore a clarification would be appreciated.

Hoskinson subsequently hosted the Twitter space with only three thousand people tuning in. In other news, the Cardano native token has dropped by almost 6% in the previous seven days, according to statistics from the market monitoring website CoinMarketCap, and is now trading at $0.3389.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Tokenized Art And Fractionalized Real Estate: All You Need To Know

Cypher

Curtis Dye

Curtis is a cryptocurrency news and analytics author with a focus on DeFi, BLockchain, CeFi, NFTs etc. He has publication skills such as SEO optimization, Wordpress, Surfer tools and aids his viewers with insights on the volatile crypto industry.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content