Charles Hoskinson Compares Present Crypto Industry to Weird Meme of Glue Invention

CEO of Input Output Global and founder of the Cardano Foundation, Charles Hoskinson, now seems to be following Elon Musk's example as he has started posting memes on his Twitter page.

Cardano founder says this meme describes crypto industry

The meme shared by Hoskinson is, in his view, somewhat related to the current state of the crypto industry. The meme about the invention of glue seems to describe how crazy innovators may seem to average users in their research and attempts to innovate when they suggest "melting a horse so we could stick stuff to other stuff."

This really makes me laugh and somehow is connected to our industry pic.twitter.com/Ve2du83GSZ

— Charles Hoskinson (@IOHK_Charles) September 8, 2021

On Sept. 1, Cardano launched a testnet for smart contracts prior to rolling out the much-anticipated Alonzo hard fork scheduled for this Sunday, Sept. 12.

Recently, Cardano faced a massive storm of FUD ("fear, uncertainty, doubt") prior to hard fork implementation. Hoskinson reminded the community that the same happened to Cardano last summer when it rolled out the Shelley hard fork, which introduced proof of stake (PoS) consensus to the network, leaving proof of work (PoW) in the past.

As of Monday, 64% of Cardano stake pools were ready for Alonzo and upgraded to the 1.29.0 Alonzo node.

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Binance now supports Alonzo release

As reported by U.Today earlier, the largest crypto exchange, Binance, made a public statement that it will be supporting the upcoming Cardano upgrade. ADA withdrawals and deposits will be put on hold until the hard fork rollout is over. Trading will continue to take place as usual.