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Cardano Ecosystem

Zycrypto

06/15/2024

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Hoskinson Announces Cardano Game-Changer, Days After Blasting Anti-ADA Media Coverage

The founder of Cardano, Charles Hoskinson, announced a planned update for the network a few days after criticizing a podcaster who cast doubt on Cardano’s fundamentals. The planned upgrade, slated for June,...

Hoskinson Announces Cardano Game-Changer, Days After Blasting Anti-ADA Media Coverage

Cardano Whales Going Crazy On ADA Buys As Pundits Predict $4 ADA Price Explosion In 2024

The founder of Cardano, Charles Hoskinson, announced a planned update for the network a few days after criticizing a podcaster who cast doubt on Cardano’s fundamentals.

The planned upgrade, slated for June, will introduce Cardano Node 9.0. Hoskinson noted that this June upgrade will pave the way for the Chang hard fork, bringing Cardano into the Age of Voltaire.

The Most Significant Milestone in Cardano’s History

In a post on X, the Cardano founder noted that the upcoming upgrade would be the most significant milestone in the history of Cardano. 

One of the changes expected is improved governance in the Cardano ecosystem. The upgrade will implement Cardano Improvement Proposal (CIP) 1694, which brings decentralized voting. The community will have the authority to propose and fund new projects. 

This update will also promote decentralization on Cardano by allowing ADA holders to participate in treasury withdrawals and budgeting decisions. Cardano aims to deepen engagement with the platform’s evolution by making the community a part of the decision-making process.

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“Cardano will be a decentralized civilization spanning the entire world with millions of residents,” Hoskinson stated. “We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”

These updates guarantee that Cardano will have a high transaction throughput and maintain decentralization. They will be pivotal in boosting Cardano’s competitive edge in the blockchain space.

News about the upcoming upgrade came days after Hoskinson lashed out at podcaster Bankless for questioning the fundamentals of the Cardano ecosystem.

According to Hoskinson, the Cardano blockchain was growing at an impressive rate. The network was not only on the verge of a significant hard fork, but the number of decentralized applications (DApps) building on the network was also growing.

In addition to network usage, Hoskinson noted that the Cardano community was expanding. The network had secured strategic partnerships and community events, demonstrating that the ecosystem was more active than the media portrayed.

However, some crypto community members appeared unsatisfied with Hoskinson’s explanation of Cardano’s growth. One noted that Cardano was the only top blockchain network with no projects, meme coins, airdrops, or interesting gaming projects. Despite marketing efforts, the blockchain lagged behind rivals Ethereum and Solana.

ADA is down 25% year-to-date. The sluggish performance starkly contrasts rival networks such as Ethereum and Solana, whose native tokens ETH and SOL are up by around 58% and 44% YTD respectively.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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