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03/06/2024

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Cardano Leadership Shakeup? What Hoskinson Has To Say

In a series of exchanges that captured the attention of the Cardano community on X (formerly Twitter), Charles Hoskinson addressed speculation about his potential departure from Cardano for the new...

Cardano Leadership Shakeup? What Hoskinson Has To Say

In a series of exchanges that captured the attention of the Cardano community on X (formerly Twitter), Charles Hoskinson addressed speculation about his potential departure from Cardano for the new privacy-focused sidechain, Midnight. The discussion, which also touched on broader community concerns and internal dynamics, was marked by Hoskinson’s direct engagement with community members’ queries.

Cardano Founder Reiterates His Commitment

Responding to a direct question about his commitment to Cardano and whether he was planning to shift his focus to Midnight or adopt a multi-chain strategy, Hoskinson emphatically stated, “The answer is no. The hundreds of IOG engineers and scientists working on Cardano every day confirm that.”

The answer is no. The hundreds of IOG engineers and scientists working on Cardano every day confirm that.

— Charles Hoskinson (@IOHK_Charles) March 5, 2024

The rumor had several origins. One was the gossip that Hoskinson would leave Cardano if he didn’t get funding through Project Catalyst, a fund for global innovation within the ADA ecosystem.

X user @JeffsJPEGs cleared up: “Let’s go! And we also know Charles won’t leave if he doesn’t get catalyst funding. That was the rumor, that Charles is asking for funds for the next catalyst and will leave if he doesn’t get them. Glad that was cleared up.”

Second, the controversy had flared up around the involvement of The Ape Society (TAS), a significant NFT project, with whom Hoskinson had a public spat. A user weighed in on the incident, noting, “Love or hate TAS, they partially represent the Cardano NFT space to those on the outside. This kind of infighting…just added so much unnecessary fuel to the fire that nobody wanted nor needed.”

Hoskinson, in seeking clarity amidst the confusion, publicly pressed for clear answers, stating, “I want a publicly accountable yes or no. Is TAS leaving Cardano for another chain? Is TAS now going multichain?? This isn’t a slide into my DMs question. It’s one that ought to be publicly stated and known.”

Congo, one of the three founders of TAS, addressed Hoskinson’s concerns, clarifying the group’s position and commitment to the ADA ecosystem: “Hi Charles, It meant pivot and listen to the community, which is what we’ve done and they were happy about it. Random people yelling at us to leave Cardano, does not represent us. We aren’t going anywhere.”

Moreover, Hoskinson’s involvement with Midnight, while a point of speculation, was clarified as an extension of IOG’s vision for a diverse and secure blockchain ecosystem. Midnight aims to enable developers to build dApps that prioritize data protection, offering a new layer of privacy and security within the digital space.

This endeavor is seen not as a departure from Cardano but as a complementary venture that strengthens the broader blockchain environment IOG is committed to fostering. Through these exchanges, Charles Hoskinson has reaffirmed his leadership and vision for ADA, emphasizing a future where Cardano continues to grow alongside new projects like Midnight, all under the banner of IOG’s expanding blockchain ecosystem.

At press time, ADA traded at $0.735.

Cardano ADA price
ADA eyes the 0.236 Fib, 1-week chart | Source: ADAUSD on TradingView.com

Featured image from LinkedIn, chart from TradingView.com

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