Cardano founder Charles Hoskinson has dismissed accusations of centralization surrounding the cryptocurrency's governance structure.
The accusations were made by Vanessa Harris, a self-described "Web3 advisor" on Twitter, who claimed that IOG, the company behind Cardano's development, would never lose control over the network under the current setup.
Harris specifically cited CIP-1694, a Cardano Improvement Proposal, as evidence that IOG and other entities would retain control over the network in all but the most extreme circumstances.
However, Hoskinson dismissed these claims as "categorically false" and accused Harris of spreading fear, uncertainty, and doubt (FUD).
Gamza KhanzadaevIn her controversial thread, raised concerns about the power of the constitutional committee, which she claims effectively belongs to IOG, and the fact that regular ADA users cannot participate in governance without becoming a delegate representative (DRep).
The reaction of the cryptocurrency community to Harris's Twitter thread about Cardano's proposed governance actions for CIP-1694 and Voltaire is mixed. Some users are supportive, while others are skeptical or dismissive. Some users channeled Hoskinson by accusing Harris of spreading FUD and making false statements.
Vladislav Sopov
Dan Burgin
U.Today Editorial Team