Cardano founder Charles Hoskinson has defended IOG, the project’s research and engineering arm, against community backlash.
The founder of Cardano, Charles Hoskinson, has leaped to the defense of recent initiatives by Input Output Global (IOG), Cardano’s research and engineering arm. Hoskinson reiterated IOG’s commitment to onboarding millions of users into the Cardano ecosystem.
Notably, Cardano’s IOG has come under scrutiny for some initiatives it has implemented to drive the blockchain ecosystem forward in recent months.
For instance, IOG recently unveiled plans to build a privacy-focused Cardano sidechain called Midnight and acquired a popular community wallet, Nami. The Cardano division also plans to adopt CIP 1694, a proposal to give more governance power to the project’s community.
Yet, factions of the Cardano community have been unsatisfied with these initiatives, often highlighting how they tend to centralize the blockchain’s ecosystem further rather than decentralize it. As The Crypto Basic reported, certain community members noted that the Nami wallet acquisition creates further IOG monopoly.
However, Charles Hoskinson, in a recent comment, defended IOG’s latest endeavors. The Cardano founder reminded the community that IOG is like every other company building decentralized applications for the Cardano network.
I seem to notice a lot of this lately. Nami, Midnight, etc etc. Lots of amazing people are building and bringing new users, capabilities, and experiences into the ecosystem. IOG is a builder. We aren't different from any DApp company in Cardano.
We have products and services… https://t.co/4hWArOD0bw
— Charles Hoskinson (@IOHK_Charles) November 1, 2023
“IOG is a builder,” Charles Hoskinson tweeted, adding that the company has developed a range of products and services and is “here to bring millions into the [Cardano] ecosystem.”
The Cardano founder expressed concerns about community members who are “actively hostile” to IOG’s efforts and deployment of capital to enhance growth within the Cardano ecosystem.
Further, Charles Hoskinson broke down how each of the recent initiatives contributes to the overall goals of the Cardano team. He explained that CIP 1694 creates a more decentralized ecosystem than an “oligarchy,” as certain users have claimed.
The company’s Lace wallet is designed to onboard Bitcoin and Ethereum users to Cardano, while Midnight aims to make Cardano a leader in data confidentiality. Lastly, the recent Nami wallet acquisition is simply an attempt to “accelerate a great simple user experience.”
Cardano Founder Calls for Unity
Alluding to Cardano’s plans to become the number one blockchain ecosystem, Charles Hoskinson called for unity of mind within the global community. Specifically, he urged the community to stop being drama queens and “focus on building, partnering, and welcoming new positive developments.”
The Cardano founder’s call for unity comes at a time when the network is seeing an uptick in stablecoin usage and a relatively stable DeFi ecosystem. If achieved, such unity would evidently help Cardano as it continues to compete against other layer-1s to become users’ preferred destination.
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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