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Tron Weekly

01/27/2024

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Cardano's Governance Showdown: Hoskinson Vs. Member Standoff

You are here: Home / News / Altcoin News / Cardano’s Governance Showdown: Hoskinson vs. Member Standoff Cardano founder Charles Hoskinson recently took to social media to express his frustration with what he...

Cardano's Governance Showdown: Hoskinson Vs. Member Standoff

You are here: Home / News / Altcoin News / Cardano’s Governance Showdown: Hoskinson vs. Member Standoff

Cardano

Cardano founder Charles Hoskinson recently took to social media to express his frustration with what he sees as a flawed approach to governance within the Cardano ecosystem. Hoskinson criticized the mindset that led to a $10 million investment in bringing USDC to the chain, questioning the lack of community involvement and decentralized decision-making.

In response to a user’s complaint about the apparent reluctance of Cardano entities to invest $10 million for urgently needed USDC integration, Hoskinson argued that such decisions should be driven by community governance. He emphasized the importance of forming working groups, engaging with relevant parties, obtaining community approval through voting, and executing plans accordingly. According to Hoskinson, this approach aligns with the principles of decentralization, an integral aspect of Cardano’s philosophy.

The community member who voiced the initial complaint defended the need for more direct support, particularly in the form of stablecoins like USDC. They clarified that their request wasn’t about funneling money to the founders but about addressing perceived limitations in the layer-1 arena, especially concerning NFTs and DeFi.

It’s kind of hard to explain somehow as far as NFTS and DeFi are concerned; some more direct help couldn’t hurt, and I’m not talking about money inflow to the founders but simply a stablecoin like USDC. as many of these founders in the Cardano space see this as a limitation and I’ve felt it myself as I’m here every day in good times as well as bad times.

Known for being extremely vocal, Hoskinson recently responded to a user’s tweet about the significant increase in Cardano smart contracts in 2024. The figure has reached almost 10,000, according to data sourced from Cardano Blockchain Insights.

Cardano’s Smart Contracts Hit 10k

He acknowledged the achievement, emphasizing its profound impact on the layer-1 ecosystem. The founder also noted that the growth aligned with his earlier predictions, albeit slightly later than anticipated.

Cardano

Amidst this internal discourse, Cardano continues to showcase its development prowess. The proof-of-stake blockchain, positioning itself as a competitor to Ethereum, maintained its monthly GitHub activity dominance, even during a December slowdown. With 332.9 commits, the premier blockchain outperformed rivals like Polkadot [DOT] and Kusama [KSM], solidifying its reputation as a leading innovator in the blockchain space.

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