The cryptocurrency market lacks no critics and naysayers, be it in terms of the sector as a whole or the particular cryptocurrency and its underlying network, including Cardano (ADA), the founder of which has hit back at the criticism projecting its doom.
As it happens, Charles Hoskinson addressed the attacks on Cardano, particularly the proclamations of its death, irrelevance, or failure by the venture capital (VC) coins, the crypto media, or the maxi crowd, telling them, “Cardano is here to stay” in his X post shared on August 14.
Furthermore, he shared a post by X user St₳kΣ with Pride, who provided a list of things that Cardano does not have, including reboots, slashing, downtime, DAO hacks, inflation bugs, ledger reversals, forks, narrative changes, value changes, value overflow incidents, and low Nakamoto centralization – compared to many other blockchains.
Cardano progress despite skepticism
Back in February, Hoskinson also hit back at the critics who called the Cardano community a cult in view of the discussion on the possible addition of contingent staking to help the crypto industry meet regulatory requirements amid growing scrutiny over the sector.
More recently, in May, the Cardano and Ethereum (ETH) co-founder praised the platform’s progress in the face of criticism, as well as shared the plans for 2023, including global workshops, writing “a ton of really great code,” with a special emphasis on decentralization efforts, which he referred to as a “wake-up call” for the rest of the crypto space.
Meanwhile, the price of ADA at press time stood at $0.289, which represents a decline of 0.29% in the last 24 hours, a drop of 0.97% across the previous seven days, and adds up to the 10.14% loss on its monthly chart, according to the most recent information on August 15.
Featured image via Messari YouTube
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