Cardano Founder Charles Hoskinson Reveals Why Public Wallet Addresses Are Not an Option

• Charles Hoskinson cites security concerns as the primary reason for not having public wallet addresses.
• He expresses admiration for the concept of contingent settlement, which ensures transaction approval by the recipient.

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In a recent tweet, @Gabscrypto brought attention to the differing practices of cryptocurrency founders, pointing out that Vitalik Buterin, the founder of Ethereum, has a public wallet address, while Charles Hoskinson, the founder of Cardano, does not. Responding to this query, Hoskinson revealed the reasons behind his decision not to have public wallet addresses, citing security concerns as the primary factor.

Friendly Asshole Reminder that @VitalikButerin, the founder of Ethereum and favorite piñata of the Cardano Community BroCult, has a public wallet address, while Cardano's founder does not.

Where is your public wallet address, @IOHK_Charles?
Did you even claim your @adahandle?

— Ergochad Gα₿ 👨‍🚀💽 (@gabscrypto) July 29, 2023

Security Concerns and Privacy Protection

Addressing the tweet’s inquiry, Charles Hoskinson explained that he refrains from having public wallet addresses due to legitimate security concerns. While public addresses provide transparency for blockchain transactions, they also come with potential risks. As a public figure involved in a prominent blockchain project like Cardano, Hoskinson must take extra precautions to safeguard his assets and personal information.

I don't have public addresses because of security. People can send transactions without my consent from sanctioned nations and wallets like the tornado cash issue to me and thus blacklist my account. This is why I like the concept of contingent settlement

— Charles Hoskinson (@IOHK_Charles) July 29, 2023

The Risk of Blacklisting

Hoskinson’s foremost concern is the risk of blacklisting. If he were to use public wallet addresses, there would be a possibility of his accounts being targeted or restricted by authorities or other parties. Cryptocurrency addresses, being publicly accessible on the blockchain, can be traced and monitored by anyone, posing a threat to his financial privacy and security.

The Appeal of Contingent Settlement

In the context of discussing public wallet addresses, Charles Hoskinson expressed admiration for the concept of contingent settlement. This innovative approach to crypto transactions requires the explicit approval of both the sender and receiver before a transaction is processed. By having such a mechanism in place, Hoskinson believes that it ensures a more secure and consent-driven transaction process, reducing the likelihood of unauthorized or malicious transactions.

Clarifying Misinterpretations

Unfortunately, some community members misinterpreted Hoskinson’s remarks on contingent settlement. It led to the mistaken belief that he was advocating for contingent transactions on the Cardano blockchain. However, this was not the case. Hoskinson’s admiration for contingent settlement was purely conceptual, and he did not propose implementing it within the Cardano network. Community members came to his defense, clarifying the intent behind his statements and urging responsible discourse within the community.

Conclusion

Charles Hoskinson’s decision to forgo public wallet addresses on Cardano is grounded in his commitment to security and privacy protection. By avoiding the use of public addresses, he reduces the risk of blacklisting and potential complications with transactions from sanctioned nations or banned services. Hoskinson’s preference for contingent settlement highlights his dedication to ensuring secure and consent-driven transactions. As the founder of Cardano, he remains focused on strengthening the platform’s integrity and fostering a secure environment for its users.

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