Cardano founder Charles Hoskinson has dismissed claims that the network suffers from weak fundamentals.
He criticized media outlets for their continued negative portrayal of the ecosystem, asserting a stark contrast between the reality of Cardano’s progress and the media’s depiction.
Cardano Founder Refutes Media’s Gloomy Forecasts
In a sharp rebuke this week, Hoskinson accused the media of wrongly predicting the downfall of the blockchain network and affirmed that the ecosystem is here to stay.
Hoskinson highlighted the significant advancements made by Cardano over the years and outlined a major hard fork in the offing, which he described as the most significant in the project’s history.
He pointed to the rapid growth of community DApps, Cardano’s role in scaling research and development, and the importance of upcoming events such as Rare Evo, the Foundation Summit, and Token 2049.
He also noted the maturation of technologies like Hydra, the development of partner chains, initiatives like Midnight and Prism, and numerous community events, including Catalyst and the constitutional convention in Argentina.
Despite these positive developments, Hoskinson expressed dismay over the negative headlines in the media, exemplified by speculation about Cardano’s potential collapse. While condemning these narratives as “beyond pathetic,” Hoskinson went on to criticize the low quality and effort put into covering Cardano’s ecosystem.
In his latest tweet, the IOG exec expressed his frustration by stating,
“Never in my career have I seen such a profound disconnect between reality and opinion with the cryptocurrency influencer and media perception of Cardano versus its actual fundamentals.”
He reiterated his belief in Cardano’s resilience and its potential to drive the cryptocurrency industry forward, addressing significant economic, political, and social issues.
Cardano’s Chang Hard Fork
The Cardano ecosystem is gearing up for the upcoming Chang hard fork, which is scheduled for the second quarter of this year. This upgrade represents a new era of governance for the Cardano blockchain.
The fork will introduce two significant upgrades: Chang Upgrade Number One and Chang Upgrade Number Two. The first upgrade will deploy governance features on the Cardano network, initiating the technical bootstrapping phase outlined in SIP 1694, setting the stage for decentralized voting and governance actions, etc.
Building upon this, Chang Upgrade Number Two will transition SIP 1694 out of the technical bootstrapping phase, unlocking the full potential of on-chain governance, including delegated representative participation and treasury withdrawals. This will enable the Cardano community to propose and fund new projects, ensuring the ecosystem’s sustainability and continuous evolution.