Cardano CEO defends XRP and ADA in response to criticism
The much-awaited Vasil hard fork was eventually implemented by the Cardano [ADA] network after experiencing numerous delays. The ADA system quickly welcomed Vasil as the Ethereum community celebrated the completion of the Merge. While the community did voice its...
October 3, 2022 by Aishwarya shashikumar
The much-awaited Vasil hard fork was eventually implemented by the Cardano [ADA] network after experiencing numerous delays. The ADA system quickly welcomed Vasil as the Ethereum community celebrated the completion of the Merge. While the community did voice its displeasure over the delays, some have argued that it was worthwhile to wait.
In the midst of all of this, Cardano creator Charles Hoskinson responded to popular trader Pentoshi’s criticism of XRP and ADA. “Over promise, under deliver, and never deliver,” wrote Pentoshi in a tweet about how XRP and ADA thrive on “false promises.”
What is extraordinary to me is that the people who tweet this stuff actually believe it regardless of the evidence given. It's basically like religious beliefs. Every year, we have moved mountains together, but he can't see any of it. I wonder what causes it https://t.co/FdYwZGb1S6 https://t.co/WZRCRNMvJb
ADA’s creator, who seemed perplexed by the tweet, compared such viewpoints to “religious beliefs,” which are adopted without consideration of the facts. Hoskinson said, “We have moved mountains together every year, yet he is blind to all of it. Who knows what causes it?”
In response to Pentoshi’s critique, a Twitter user asked: “What aspect of XRP fell short? Take a look at all the ODL corridors that are now being constructed and utilised in the real world.”
It’s interesting to note that this year, both projects achieved fresh successes. Ripple’s ODL had almost 9x YoY growth due to the substantial rise in volume, and Q2 2022 was a record quarter for on-demand liquidity. The Ripple remittance technology has expanded into additional countries, including Lithuania, in addition to signing and increasing agreements.
Following the implementation of the Vasil hard fork on the mainnet on September 22, Cardano also witnessed the deployment of the complete Vasil capabilities on September 27. Due to the fact that Cardano was also listed on the stock brokerage app Robinhood, it also signed significant agreements, including those with Stanford University and Georgian Wine.
Cardano’s underperformance the reason for markets being disconnected from reality?
Charles Hoskinson, the founder of Cardano, discussed how ADA prices underperformed throughout the year and how markets were distant from reality. Cardano, according to Hoskinson, “has never been stronger,” and its greatest days were still to come.
The developer of Cardano also praised other cryptocurrencies, adding that many of them are “solid” even though their current values don’t reflect that.
The ADA creator also noted that the current market behavior was mostly caused by macroeconomic factors. Due to macroeconomic challenges, the markets for digital assets continued to fall in the third quarter of 2022.
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