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04/03/2024

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Charles Hoskinson Advocates for Stablecoin Support on Cardano, Disputes Blockchain Congestion Concerns - Crypto Economy

TL;DR Hoskinson addressed important community questions about the Cardano project, clarifying misconceptions through a video. He acknowledged the need to implement better-backed stablecoins on ADA and...

Charles Hoskinson Advocates for Stablecoin Support on Cardano, Disputes Blockchain Congestion Concerns - Crypto Economy

TL;DR

  • Hoskinson addressed important community questions about the Cardano project, clarifying misconceptions through a video.
  • He acknowledged the need to implement better-backed stablecoins on ADA and highlighted the Foundation’s commitment in this regard.
  • He dismissed the idea of heavy congestion on the ADA blockchain and explained that any congestion only results in transaction settlement delays, not issues for users.

Charles Hoskinson, the CEO and founder of Cardano, stepped out to address several of the most pressing questions raised by the community regarding the project. Through a recently published video, Hoskinson tackled various concerns and clarified some misconceptions existing within the Cardano community.

One of the lingering concerns is the need to implement better-backed stablecoins on Cardano to ensure the ecosystem’s success. Hoskinson acknowledged this need and noted that the Foundation is working hard on this aspect. Although the project has attempted to address this issue in the past, Charles reiterated ADA’s commitment to achieving a more solid solution in this regard.

Interesting Thread https://t.co/1USHIhAc9h

— Charles Hoskinson (@IOHK_Charles) April 1, 2024

Another point addressed by the CEO was the notion that the Cardano blockchain suffers from heavy congestion, which he dismissed. Hoskinson explained that while there may be congestion on the network at certain times, this generally only leads to delays in transaction settlement and does not pose a significant problem for users to consider.

Projects On Cardano Must Succeed On Their Own

Regarding project funding within the ADA ecosystem, Hoskinson expressed that such practices could be considered unnecessary. He likened this idea to the concept of “bribery,” arguing that it should not be Cardano’s responsibility to finance projects and that the market should determine which projects succeed on the platform.

cardano ada hoskinson

He also debunked the idea that ADA’s inclusion on other platforms is hindered by its unique programming language. Charles pointed out that many centralized exchanges have already added Cardano to their platforms, demonstrating that the project is accessible and compatible with a variety of infrastructures.

Finally, he emphasized that the ADA blockchain offers incentives for users and supports those who work, build, and develop on it. He reiterated the platform’s commitment to the community and its vision of creating an inclusive, user-oriented ecosystem.

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ORIGINAL SOURCE

https://crypto-economy.com/charles-hoski...

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