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Cardano Is 'Growing' Under Harshest Conditions: Charles Hoskinson

Wed, 06/28/2023 - 12:18
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Godfrey Benjamin
Cardano founder Charles Hoskinson has come to defense of protocol in new Twitter chat
Cardano Is 'Growing' Under Harshest Conditions: Charles Hoskinson
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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."

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.

Cardano Launches First Mainnet-Compatible Hydra Node

Fight 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.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.