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Cardano (ADA) critics are unrelenting in their resolve to spread fear, uncertainty and doubt (FUD) about the blockchain, and founder Charles Hoskinson is stepping up to counter the FUD with facts. Responding to a recent Twitter chat stemming from a YouTube video that alleged Cardano DeFi has no total value locked (TVL) and that institutions were not interested in the protocol, Hoskinson said there is a lot of noise in the crypto ecosystem.
The vocal Cardano founder noted that community members should look out for a positive "signal" and reiterated that the protocol and its ecosystem "is getting real adoption and growing as an ecosystem under the harshest conditions our industry knows."
Lots of noise in crypto. Look for the signal. Cardano is getting real adoption and growing as an ecosystem under the harshest conditions our industry knows. Like Bitcoin, this is being done in a completely decentralized way. https://t.co/t5T0QgDjdW
— Charles Hoskinson (@IOHK_Charles) June 28, 2023XRP 4 Days of Sleep: What's Next? Dogecoin (DOGE) Hints at Double Top Pattern Formation, Pepe (PEPE) Loses 21% in 6 Days, But There's Still ChanceBinance's CZ Warns About MacBook VulnerabilitiesMicroStrategy Raises Recent Convertible Notes Offer to $2.6 Billion to Buy More BitcoinAlmost 15 Billion Shiba Inu (SHIB) in 24 Hours: Are Whales Ready?
Hoskinson also likened the developmental efforts of Cardano to those of Bitcoin. According to him, the Cardano blockchain is driving its innovations in a completely decentralized manner like Bitcoin, a jab at critics who may note that the protocol's administration is centralized.
The comment from the Cardano founder complements that from community member Chris. O, who shared a snapshot of Cardano's TVL in comparison with that from other blockchains. While the source of the screenshot remains unverified, it depicted Cardano leading other chains in TVL growth by a mile.
Alex DovbnyaFight for dominance continues
As far as Cardano is concerned, steady building is the goal with, a general aim of dominating the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, among others.
Cardano's approach is simple, and it hinges on driving a highly decentralized network of developers to build usable products for the real world. Over the course of the past year, a number of exciting products have been launched to double down on this mission.
Some of the products include the DJED stablecoin, Marlowe Smart Contract protocol, Hydra Head and its dedicated wallet, the Cardano Lace Wallet, among others.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team