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Charles Hoskinson Goes After Cardano (ADA) Haters, Debunks Popular Myth

Sun, 10/02/2022 - 10:27
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Arman Shirinyan
Co-founder of network has something to say to haters
Charles Hoskinson Goes After Cardano (ADA) Haters, Debunks Popular Myth
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Charles Hoskinson went after the anonymous Twitter user who gave his anti-Cardano and XRP advice by stating that those projects never deliver what they have promised. The co-founder of Cardano is fascinated by the fact that the people who tweet such thoughts actually believe them despite the evidence.

Cardano never delivers

A quite common anti-Cardano narrative in the industry is the belief that the Cardano developers never deliver what they promise in the first case. It mostly formed after some Cardano-related projects ended up being different from what had been promised to users.

However, in most cases, it was due to the immaturity of the network and the solutions that were delivered on it. The most notable representative of the Cardano DeFi industry was SundaeSwap, which had many issues at the start and even some congestion cases.

Most of Cardano's problems come from the eUTXO model, which does not imply fitting more than one transaction in the block. That is why the Cardano developers had to come up with alternative solutions that would make DeFi on ADA possible.

Hoskinson's opinion

The developer cannot see any sanity in statements similar to what he has shown in the tweet. Hoskinson stated that every year the Cardano developers are moving mountains together, while representatives of other networks cannot see any of it for reasons unknown.

Cardano (ADA) Price Analysis for October 1

Despite some success in development, the market performance of Cardano is far from ideal as the cryptocurrency has been moving in a prolonged downturn for the last 400 days.

Technically, Cardano (ADA) remains the least profitable asset in the top 10 of cryptocurrency assets sorted by market capitalization. However, the situation may change if the market sees yet another ADA run, similar to what we saw in August 2021.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.