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Cardano’s founder Charles Hoskinson strongly rejected recent media claims about the cryptocurrency ADA‘s decline, asserting that the network continues to make promising developments. Hoskinson’s frustration was evident as he addressed what he sees as a significant disconnect between media perception and Cardano’s actual progress and fundamentals. He highlighted several key developments underscoring Cardano’s strength and bright future.
Hoskinson Expresses His Discontent
Hoskinson took to the social media platform X to express his dissatisfaction with the current narrative surrounding ADA. “Throughout my career, I have never seen such a deep disconnect between the reality and perception of Cardano’s true fundamentals against cryptocurrency influencers and media,” he said.
The upcoming Chang Hard Fork forms one of the cornerstones of significant developments for ADA. This hard fork will burn all seven genesis keys, fully transferring protocol control to the Cardano community and marking a historic step towards full decentralization. The upgrade, as outlined in CIP-1694, will not only enhance on-chain governance but also introduce delegated representatives (DReps) to further decentralize decision-making processes.
Key Highlights for Hydra
Beyond the hard fork, Hoskinson highlighted a series of initiatives designed to foster growth and innovation within the Cardano ecosystem. Among these is Hydra, a Layer-2 scalability solution poised to increase transaction speeds and reduce costs. This technology is now reaching maturity. Additionally, Cardano is expanding through sidechains like Midnight and Prism, exemplifying the network’s collaborative and innovative potential.
Cardano’s vibrant community is another testament to its strength. This strength is clearly seen in the increasing number of decentralized applications (DApps) and significant research efforts on blockchain scalability. Upcoming key events will further showcase Cardano’s strong community and drive for innovation.
These include the Rare Evo Blockchain congress (August 15-17), the Cardano Foundation Summit in Dubai (October 23-24), and TOKEN2049 in Singapore (September 18-19). The Project Catalyst initiative continues to support community-led innovation by providing funding and support for projects with real-world applications. The ecosystem is also preparing for a significant constitutional congress in Buenos Aires, where delegates will approve the final version of the Cardano Constitution, creating a comprehensive framework for decentralized governance.
