Charles Hoskinson Criticizes Cardano ‘Dunking,’ Expresses Concern Over ‘Carnival Barkers’ Dominance – Altcoins Bitcoin News

Charles Hoskinson has criticized “all the dunking of Cardano,” and asserted that the protocol offers the “optimal route for scalability, governance, and innovation.” According to Hoskinson, the crypto industry’s problem is that it allows “carnival barkers [to] dominate the conversation.”

Cardano FUD

Charles Hoskinson, co-founder of Input Output Global Inc., has criticized “all the dunking on Cardano” and asserted that the protocol offers the “best path for scalability, governance, and innovation.” In a post on the social media platform X, Hoskinson insisted that Cardano holds all the cards and boasts the best community.

Hoskinson’s comments, which appear to be directed at Cardano’s detractors, came just days after top crypto asset manager Grayscale Investment removed ADA from its Crypto Large Cap Fund. Grayscale described the removal of ADA, which involved offloading the token and using the proceeds to purchase existing fund components, as a “rebalancing” act.

Some critics of Cardano have interpreted Grayscale’s move as further evidence that the project is slowly dying. Prior to the crypto asset manager’s move, a research firm claimed in January that the Cardano network lacks meaningful use, a situation that does not bode well for ADA.

Short-term Narratives Overwhelm Discussion

However, in his April 7 post, Hoskinson attempted to counter the narrative that Cardano is on its deathbed. He highlighted the protocol’s upcoming hard fork, Chang, as well as the implementation of Ouroboros Leios, which he described as “the biggest step forward towards solving the blockchain trilemma ever.”

Despite praising Cardano’s progress and its track record as a protocol that has never failed in more than 2,300 days, Hoskinson expressed frustration over how narratives in the crypto industry are shaped.

“The problem with our industry is that we let short-term narratives and carnival barkers dominate the conversation. AI has the same issue. A few months ago, Open AI dominated everything, then Claude 3, now we got Grok 1.5, and soon Llama 3,” Hoskinson decried.

According to the co-founder, the protocols and projects that succeed are those designed for longevity, supported by communities that respect and uphold such foundations.

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