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Charles Hoskinson Lashes Out at Media FUD, Unveils Upgrade Plans

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Cardano's Challenges: From Bullish Hopes to Bearish Realities

Cardano founder Charles Hoskinson is taking aim at the media’s portrayal of ADA, arguing it doesn’t reflect the project’s strong fundamentals. He emphasized a large gulf between the media’s portrayals of the cryptocurrency and its actual reality. This disparity has led Hoskinson to criticize the opinions of the media as it regards Cardano.

Furthermore, he asserted the importance of the Chang Hard Fork and other technological advancements in Cardano’s ecosystem.

Read Also: Cardano Founder Charles Hoskinson on Rapid Scaling Potential

Chang Hard Fork to Decentralize Cardano

Hoskinson revealed the upcoming Chang hard fork, a critical update that burns all seven genesis keys. This relinquishes protocol control to the community, marking a giant leap towards true decentralization. The hard fork also paves the way for on-chain governance and delegated representatives (DReps) as outlined in CIP-1694.

Hydra to Scale Transactions

Looking beyond the hard fork, Hoskinson emphasized several initiatives driving Cardano’s growth. An example is, Hydra, a layer-two solution, which is set to significantly boost transaction speeds and lower costs. Flourishing partner chains like Midnight and Prism further solidify Cardano’s burgeoning ecosystem.

Community Thrives Amidst Constant Innovation

The Cardano community is booming, evidenced by the rapid rise of decentralized applications (DApps) and fervent research into blockchain scalability. Additionally, events like the Rare Evo convention and Cardano Foundation Summit showcase the community’s unwavering commitment.

Project Catalyst Fuels Innovation

Project Catalyst remains a key driver of community-led innovation. By funding promising real-world application projects, Catalyst fosters a vibrant ecosystem. The upcoming constitutional convention in Buenos Aires will see delegates ratify Cardano’s Constitution, solidifying its decentralized governance framework.

“Cardano Here to Stay”

Charles Hoskinson’s comments serve as a powerful counterpoint to negative media narratives of ADA. With a groundbreaking hard fork on the horizon, continuous technological advancements, and a highly engaged community, the cryptocurrency is poised to become a major force in the crypto space. Hoskinson’s firm belief is that “Cardano is here to stay. Therefore, he has little reason to doubt the project’s immense potential to tackle real-world challenges.

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