Charles Hoskinson Attacks Cardano (ADA) Critics and Dispels a Common Myth
Charles Hoskinson responded to the anonymous Twitter user who provided anti-Cardano and XRP advice by asserting that these projects never deliver on their promises. The co-founder of Cardano is interested in the fact that individuals who tweet such illogical ideas genuinely believe them.
A prevalent anti-Cardano narrative in the industry asserts that Cardano developers never achieve what they first promise. It mostly arose as a result of Cardano-related initiatives failing to deliver on customer expectations.
However, in the majority of instances, this was a result of the immaturity of the network and the solutions supplied to it. SundaeSwap was the most renowned representation of the Cardano DeFi business, despite its initial difficulties and congestion challenges.
The majority of Cardano’s issues stem from the eUTXO mechanism, which does not need multiple transactions for each block. Therefore, the Cardano developers had to devise alternate techniques to make DeFi workable on ADA.
Comparable to the developer’s tweet, the developer cannot see any sense in similar remarks. Hoskinson added that Cardano’s developers together move mountains every year, but representatives of other networks cannot see any of it for unclear reasons.
Despite some development achievements, Cardano’s market performance is far from ideal, as the cryptocurrency has been in a protracted downtrend over the last 400 days.
Technically, Cardano (ADA) remains the least lucrative asset in the top 10 by market capitalization of cryptocurrencies. However, the scenario might alter if the market has another ADA run like in August 2021.