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TheCryptoBasic

03/18/2024

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Cardano Founder Addresses Fresh FUD Around World Mobile Deal

Charles Hoskinson has addressed growing FUD around the Cardano project, especially in connection with its World Mobile partnership. Cardano founder Charles Hoskinson has a reputation for actively clearing the...

Cardano Founder Addresses Fresh FUD Around World Mobile Deal

Charles Hoskinson has addressed growing FUD around the Cardano project, especially in connection with its World Mobile partnership.

Cardano founder Charles Hoskinson has a reputation for actively clearing the air on negative community discussions around the project. In the latest such development, Hoskinson took to popular social media platform X to address what he described as a “wave of FUD” thrown at the project.

At the heart of the controversy is Cardano’s partnership with World Mobile, an African telecom company. First announced in June 2021, the deal was supposed to connect residents of certain regions, such as Tanzania, to the internet using a novel blockchain-based solution.

With that project not having gained significant traction since its initial announcement, some crypto proponents have pointed to the deal as evidence that the project does not deliver on its promises and should not be considered by investors. 

However, Charles Hoskinson disagrees, claiming that such FUD has no basis and is typical of a crypto market cycle where investors “freak out about Cardano’s potential and roadmap.”

He also shed some light on the World Mobile deal and why the project may take longer to reach its full potential. Hoskinson further addressed the need for so-called partnerchains on Cardano to help the network scale to serve several use cases.

Cardano Founder Clears The Air on World Mobile Deal

According to Charles Hoskinson, the World Mobile project is set up to operate globally using a protocol that handles “complex hardware.” The Cardano founder claims that no blockchain in the crypto space can handle such a demand, which is why World Mobile is building the solution. 

Man, it's raining FUD this weekend, and I'm not sure about the origin. I guess it's that time of the cycle where everyone freaks out about Cardano's potential and roadmap, so they throw a wave of FUD at us.

With respect to World Mobile, the goals of their project require the…

— Charles Hoskinson (@IOHK_Charles) March 17, 2024

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World Mobile’s solution will apparently be a partnerchain, a topic that some in the Cardano community repeatedly misunderstand, according to Hoskinson. He clarified that such partnerchains were always a part of the Cardano’s roadmap as they give other projects a chance to build atop the time-tested Cardano network.

According to Hoskinson, such protocols may require “unique consensus models, ledger rules, design, and transaction semantics.” Cardano’s Midnight Protocol, which prioritizes privacy, has already demonstrated the need for such differing models.

In a nutshell, the Cardano founder reassured the community that it will continue to support World Mobile’s vision even though the solutions and frameworks involved “will take time to mature.”

The ever-supportive Cardano community largely well-received the founder’s clarifications. The community will also remain hopeful that the clarifications will help dismiss negative remarks that could negatively impact the price of Cardano as it sets sail on a recovery path. 

Since hitting $0.8 earlier this month, ADA has struggled, dropping to around $0.6755 at the time of writing. Overall, the coin has gained 8% in the past month, and remain poised for further gains if the bullish momentum around the crypto market continues.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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