Hoskinson affirms Cardano’s enduring presence in the crypto industry despite the unending criticisms aimed at the network.
Cardano founder Charles Hoskinson has taken to X to address critics who proclaim the network’s death, failure, and irrelevance. In a recent X post, Hoskinson reminded Cardano critics that the leading blockchain has come to stay.
“No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaim we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay,” Hoskinson said.
No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaims we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay https://t.co/tMbyfNf9PY pic.twitter.com/2c9O0wQtZi
— Charles Hoskinson (@IOHK_Charles) August 14, 2023
Features Distinguishing Cardano From Other Blockchains
Hoskinson made the comment while reacting to a post by ADA enthusiast, St₳kΣ with Pride, who highlighted some significant features that distinguish Cardano from major blockchains.
In an August 14 tweet, St₳kΣ with Pride noted that Cardano does not have forks, ledger reversals, slashing, reboots, narrative changes, DAO hacks, downtime, low nakamoto centralization, and value overflow incidents.
The renowned ADA enthusiast added that the team behind Cardano usually makes plans before executing them.
ADA Enthusiasts React
Interestingly, Cardano community members flooded the comment section to praise the leading blockchain for its continuous growth.
An X user described ADA as the core of cryptocurrency that stands out from others.
In my view, it's the core of cryptocurrency. It stands out from the rest, yet it's surprising that many don't recognize its significance. $ADA
— big bear (@BigBCapital) August 15, 2023
Another user noted that Cardano is still standing strong despite critics proclaiming that the network would fail.
Critics Target Cardano
The crypto industry is filled with naysayers and critics who continuously doubt certain crypto projects. Notably, Cardano happens to be the major recipient of these criticisms.
Some critics described Cardano as a ghost chain, suggesting a lack of activity on the network. As reported earlier, CoinDesk described Cardano as a vaporware network and a zombie chain.
The media outlet predicted that “speculative money” would leave Cardano this year, adding that ADA would lose its top 10 position in the global crypto ranking.
Furthermore, VCs have not shown interest in investing in Cardano or related projects. On November 23, NMKR founder Patrick Tobler disclosed that he received an email from a VC who declined to invest in any Cardano-related projects.
Interestingly, Hoskinson responded sarcastically that these VCs would gladly invest massively in projects like Terra and FTX.
I guess they'd rather deploy capital into Luna and FTX? https://t.co/dMbxcOWGY0
— Charles Hoskinson (@IOHK_Charles) November 23, 2022
It is worth noting that both crypto projects collapsed badly. Many VCs, like Galaxy Digital CEO Mike Novogratz, suffered huge losses following Terra’s collapse.
Cardano Records Significant Growth in Q2
Meanwhile, Cardano has continued to record tremendous growth despite criticisms and VCs deciding not to invest in the network. Messari reported recently that Cardano experienced massive growth in Q2 2023.
According to the report, Cardano’s average daily dApp transaction volume surged 49% in Q2, while the network’s TVL spiked by 9.7%, reaching $151.7 million.
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.
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