[ccpw id="39382"]

HomeCrypto NewsMarketHoskinson Says He Has Nothing To Do With Cardano Foundation Saga 

Hoskinson Says He Has Nothing To Do With Cardano Foundation Saga 


Written By:


Charles Hoskinson distances himself from the Cardano Foundation drama, as he emphasized that he has nothing to do with the organization’s delegation strategy update. 

- Advertisement -

Charles Hoskinson, the founder of Cardano, has taken to X (formerly Twitter) to distance himself from the saga surrounding Cardano Foundation’s recently updated delegation strategy. 

Cardano Foundation Updates Delegation Strategy 

For context, the Cardano Foundation, an independent standard organization overseeing the development of Cardano and its ecosystem, recently announced changes to its delegation strategy. 

The changes, according to the Cardano Foundation, will cover delegation packages, duration, and criteria, as well as the selection process. 

- Advertisement -

ADA Holders Criticize Move 

However, the latest changes did not go down well with Cardano enthusiasts, as they took to social media platforms to voice their concerns. 

Many enthusiasts believe the updated delegation strategy prioritizes rewards over staking pools. Furthermore, the community slammed the organization for onboarding centralization into the network, a sharp deviation from the existing consensus mechanism. 

As expected, some ADA enthusiasts drew the attention of Hoskinson to the development while urging him to provide clarity on the new update. 

Cardano Founder Reacts 

Reacting, Hoskinson distanced himself from the drama that erupted between the Cardano Foundation and ADA enthusiasts. 

- Advertisement -

“I have nothing to do with the CF, its delegation strategy, or general operations,” Hoskinson said. 

The Cardano boss urged ADA holders to direct their concerns or inquiries directly to the organization. 

Notably, Hoskinson’s response to the issue might come as a surprise to many given that the Cardano boss has always been vocal about matters regarding the network. 

However, some community members speculated that Hoskinson distanced himself from the Cardano Foundation drama due to recent scrutiny faced by Input Output Global (IOG). 

Hoskinson Addresses Criticisms Aimed at IOG  

Earlier this month, critics like X user Fabian (@Fabian_vBergen) accused IOG of holding the majority of the Genesis keys and its overbearing control of the network. 

The accusations prompted Hoskinson to issue a statement on X. Hoskinson disclosed that the Cardano Foundation, Emurgo, and IOG are all Genesis key holders. 

Furthermore, he stressed that IOG does not have overbearing control of the network, as the CIP 1694 proposal makes the notion irrelevant. 

Follow Us on Twitter and Facebook.

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.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

More from Author

Latest Stories