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HomeCrypto NewsMarketCardano Founder Explains Why He Doesn’t Have Public Wallet Addresses

Cardano Founder Explains Why He Doesn’t Have Public Wallet Addresses


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Cardano Founder Hoskinson has divulged why he doesn’t have public wallet addresses following an inciting comment from a crypto proponent.

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The public wallet address subject resurfaced last weekend courtesy of anonymous crypto proponent Gabscrypto, who identifies as a “Censorship-Resistant Cypherpunk Maximalist.”. The crypto enthusiast compared Cardano founder Charles Hoskinson with Vitalik Buterin. 

He noted that the Ethereum co-founder has a public wallet address despite being the Cardano community’s “favorite piñata.” On the other hand, he submitted that Hoskinson does not have one. “Where is your public wallet address, Charles?” Gabscrypto tweeted.  

Cardano Founder Responds

Hoskinson promptly reacted to the question. Citing security issues, the ADA creator confirmed not having public wallet addresses. “I don’t have public addresses because of security,” he remarked. 

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He noted that public wallet addresses could expose his account to the risk of getting blacklisted. He remarked that people in sanctioned nations or those using banned services could send crypto assets to him. In this regard, Hoskinson expressed admiration for the concept of contingent settlement. 

For the uninitiated, contingent settlement allows both the sender and receiver of a crypto transaction to sign the transaction before it is processed. This pattern helps to ensure that the recipient approves of the transaction.

Community Members React

Notably, Hoskinson’s contingent settlement comment was misinterpreted by some users, including Gabscrypto. Accordingly, the critic implied that Hoskinson advocated for contingent transactions on Cardano. 

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He further recalled that the Cardano founder had earlier proposed contingent staking. “I guess blockchains don’t need to be permissionless anymore,” he touted. Reacting to this statement, several ADA proponents slammed Gabscrypto. 

Alan, the host of the Cardano community podcast “Artists on Cardano,” noted that Hoskinson’s comment was misunderstood. The user clarified that Hoskinson never advocated for any parameter change on Cardano. Likewise, Reddstar urged Gabscrypto to delete his comment to avoid future references.

Hoskinson’s Contingent Staking Proposal

Recall that the Cardano founder proposed contingent staking in February. The proposal recommended that the stake pool operator and delegators sign transactions before they can be processed on Cardano. This development came amid the SEC’s crackdown on crypto staking in the US. 

He proposed this staking model because it aligns with legal requirements. More so, it complies with global know-your-customer (KYC) standards. However, the proposal was met with mixed community reactions

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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