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Cardano often finds itself the subject of critique, and sometimes even hatred. This has been a notable concern for many investors, but now we have an explanation that reveals the source of that narrative.
A prominent figure in the Cardano community, Cardano Whale, suggests that the negative sentiment toward Cardano is not a result of natural skepticism but rather the product of deliberate misinformation campaigns. According to them, these are deeply rooted in the perceived threat Cardano posed to established projects like Ethereum from its inception, given Hoskinson's critical role in the development of Ethereum.
The rise of Cardano, particularly when it introduced what was seen as the superior staking mechanism in the cryptocurrency industry, quickly sent it to third place in market capitalization. Critics quickly downplayed Cardano's growth by attributing it to a simple migration of XRP holders to ADA.
Furthermore, when Cardano rolled out its UTxO-based DeFi app, the welcome wagon on other chains did not come out. Critics pointed out every minor issue at launch, reinforcing the narrative that Cardano was either overhyped or underperforming, despite the same issues popping up on EVM chains.
Yuri MolchanDespite these issues, the ADA whale remains bullish on Cardano's prospects. They highlight the blockchain's high degree of decentralization, its robust and active community, and upcoming scalability improvements that are poised to broaden its capabilities. They also note that Cardano possesses a large and somewhat unique talent pool, distinct from the rest of the crypto sector, which continues to innovate and push the project forward.
People might oppose Cardano not because it has flaws but because it could shake up the way things are done. However, despite the negative narrative surrounding Cardano, the network is still moving forward, delivering technological progress in the industry.
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov