06 Jun

In response to widespread media skepticism regarding the potential of Cardano, founder Charles Hoskinson has delivered a comprehensive explanation of upcoming developments and initiatives. He asserts that these advancements demonstrate the cryptocurrency's strong position and optimistic prospects for the future.

Founder of Cardano Attacks Crypto Media

Hoskinson highlighted his dissatisfaction with the way that ADA is currently being portrayed in the crypto media scene in a statement sent through X. "I have never witnessed such a significant difference between opinion and reality in my professional life between the mainstream and cryptocurrency influencers' portrayals of Cardano and its true foundations," he said.

The impending Chang Hard Fork, which he refers to as the "most significant hard fork in the history of the project," represents a crucial evolution for Cardano and will fully transfer control of the protocol to the community. He emphasized that Cardano is on the verge of significant developments.

This update will eliminate all seven genesis keys, marking a significant step towards achieving complete decentralization. It is expected to enhance on-chain governance as outlined in CIP-1694, introducing delegated representatives (DReps) to further decentralize decision-making within the ecosystem.

In addition to the hard fork, Hoskinson emphasized various other initiatives aimed at driving growth and innovation within the Cardano ecosystem. These include the development of new technologies like Hydra, a layer-two scalability solution aimed at improving transaction speeds and reducing costs, which is currently in the final stages of development. Furthermore, Hoskinson mentioned partnerships with Midnight and Prism as notable advancements.

The active participation of the Cardano community is evident in the increasing number of decentralized applications (DApps), significant research and development efforts in blockchain scalability, and the organization of major events such as the Rare Evo blockchain convention, the Cardano Foundation Summit in Dubai, and participation in TOKEN2049 in Singapore.

Project Catalyst continues to play a crucial role in fostering community-led innovation by providing funding and support to projects with promising real-world applications. Looking ahead, the Cardano ecosystem is preparing for a significant constitutional convention in Buenos Aires, where delegates will finalize Cardano's Constitution, further solidifying the framework for decentralized governance.

Hoskinson expressed confidence in Cardano's future, emphasizing its significant progress across various fronts. He dismissed detractors' claims and urged the cryptocurrency community to acknowledge and engage with the substantive advancements being made.

June 2024, Cryptoniteuae

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