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

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Thu, 09/09/2021 - 08:10
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Yuri Molchan
CEO of IOG and Cardano founder has posted a meme that, in his opinion, sort of describes the current crypto industry
Charles Hoskinson Compares Present Crypto Industry to Weird Meme of Glue Invention
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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."

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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Solana Surpasses XRP Amid Unstoppable Rally

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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.