Cardano founder talks about Cardano’s Governance proposal CIP-1694 FUD
Last updated Mar 17, 2023 Charles Hoskinson addresses the fud spreading in the crypto sector ahead of Cardano’s CIP 1694. Cardano is a popular Proof-of-stake (PoS) scalable blockchain network, known for...
Last updated Mar 17, 2023
Charles Hoskinson addresses the fud spreading in the crypto sector ahead of Cardano’s CIP 1694.
Cardano is a popular Proof-of-stake (PoS) scalable blockchain network, known for its ability to process transactions with full reliability & stability. Charles Hoskinson is the founder of Cardano and also he is popular in the crypto space as an early contributor to the popular public blockchain network Ethereum. After stepping down from the Ethereum project, Hoskinson launched Cardano as a rival of Ethereum.
At present time, the Cardano engineering team Input Output Hong Kong Global (IOG) is working on the development work for CIP 1694 under the Voltaire phase of Cardano. CIP 1694 is going to be the next 5th major upgrade in the Cardano Blockchain network.
As we know that Cardano blockchain is not backed by any Venture capitalists (VCs) funding, so it is a very common thing for this crypto blockchain to face fake rumours about the nature & potential of its network.
On 16 March 2023, Charles Hoskinson appeared in a new video podcast and said that the latest upcoming upgrade in the Cardano Blockchain will only bring a better level of the decision-making governance system.
“That whole representative democracy thing is the voting class that makes decisions of one of the seven governance events and that’s the whole concept of 1694,” Cardano founder said.
Hoskinson also addressed the FUD spreading in the Industry about this development work and suggested Cardano blockchain lovers read about it themselves, instead of following stupid tweets from critics.
In the past, many Cardano lovers suggested Hoskinson never respond to any kind of Fud or rumour about Cardano but Hoskinson never remains calm over any kind of negative comment about Cardano.
Just a few weeks ago, Vanessa Harris, a Web 3 advisor, claimed that CIP 1694 is a way for the IOG to control the Cardano Blockchain under all circumstances. In short, Harris alleged that IOG wants control of the Cardano blockchain, more similar to centralised blockchain network operations.
Read also: State Street Bank terminates partnership with crypto firm Copper
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