Charles Hoskinson Debunks Claims of Cardano’s Decline, Highlights Misunderstood Sentiment

The CEO of Input Output Hong Kong (IOHK) and co-creator of Cardano (ADA), Charles Hoskinson, has categorically denied any notion that Cardano is a dying blockchain project. He made note of the criticism in a recent social media post on X, pointing out that Voltaire, the platform’s most recent update, had fixed governance flaws.

Governance Challenges Now Addressed

Hoskinson explained that much of the negative sentiment surrounding Cardano was due to its governance system’s inability to keep up with the platform’s growth. However, he noted that the Voltaire update, launched in September, addresses these concerns. “There have been years of pent-up grievances, unexplored roadmap items, unfunded growth strategies, and needed partnerships that haven’t been addressed due to Cardano’s governance not scaling to meet the needs of the ecosystem,” he said.

The Voltaire update has brought new features to the blockchain, enabling decentralized governance through a voting and treasury system. This change is expected to significantly enhance the platform’s ability to adapt and grow, according to Hoskinson. “Now that Voltaire is here, the new governance is capable of listening and adapting to meet these needs and also executing a new roadmap to grow the ecosystem dramatically.”

Hoskinson emphasized that, far from being a dying project, Cardano is thriving thanks to its open and transparent governance model. He added that this transparency sets Cardano apart from other blockchain platforms. “The difference between Cardano and the rest of the cryptocurrency space is that we all do this together and out in the open,” he stated. He criticized other platforms for “backroom deals and dirty tricks,” adding that Cardano’s focus is on long-term growth and integrity.

Cardano’s on-chain governance, spanning over 100 countries, ensures that the community has a significant say in the platform’s future. Hoskinson also dismissed the idea that short-term market manipulation could influence Cardano’s trajectory. “Short-term thinking, market manipulation, and companies seeking a handout have no role or place here,” he said.

As of now, ADA is trading at $0.340, showing a slight 0.28% increase in the last 24 hours.