The cryptocurrency market has no shortage of critics and naysayers, with various voices casting doubt on the industry as a whole and specific cryptocurrency.
Notably, Cardano (ADA) has faced its fair share of skepticism. However, Charles Hoskinson, the founder of Cardano, has responded to these criticisms, emphatically affirming the cryptocurrency’s enduring presence.
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Cardano’s Resilience
In a recent post on August 14, Charles Hoskinson confidently addressed the attacks on Cardano (ADA) and dismissed claims of its demise, irrelevance, or failure made by venture capital coins, crypto media, and maximalists. He proclaimed, “Cardano is here to stay.”
Hoskinson also shared a post by a user named St₳kΣ with Pride, which highlighted a list of features that set Cardano apart from other blockchains. This list included the absence of reboots, slashing, downtime, DAO hacks, inflation bugs, ledger reversals, forks, narrative changes, value changes, value overflow incidents, and low Nakamoto centralization.
No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaims we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay https://t.co/tMbyfNf9PY pic.twitter.com/2c9O0wQtZi
— Charles Hoskinson (@IOHK_Charles) August 14, 2023
Pushing Forward Despite Doubts
This is not the first time Hoskinson has responded to criticism directed at Cardano. In February this year, he addressed those who labeled the Cardano community as a cult during discussions on potential contingent staking. These discussions aimed to help the crypto industry comply with regulatory requirements amid growing scrutiny.
In May, the co-founder of Cardano and Ethereum, Hoskinson, praised the platform’s progress while facing criticism. He also outlined the plans for 2023, which involve global workshops and the development of high-quality code. Emphasizing the importance of decentralization efforts, Hoskinson referred to them as a “wake-up call” for the rest of the crypto space.
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Recent Performance
At the time of writing, ADA is trading at $0.2816, with about a 3% decline in the last 24 hours. Over the previous seven days, the price dropped by 0.97%, with a monthly loss of 10.14%.
Charles Hoskinson’s unwavering belief in Cardano’s longevity and the progress made by the platform showcases the team’s commitment to innovation despite the skepticism faced by the project. As the cryptocurrency market evolves, Cardano continues to make strides in establishing its presence and fulfilling its vision.
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