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Home»BITCOIN NEWS»Cardano founder discusses the future of ADA and exciting updates.
BITCOIN NEWS

Cardano founder discusses the future of ADA and exciting updates.

By Crypto FlexsJune 6, 20243 Mins Read
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Cardano founder discusses the future of ADA and exciting updates.
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Strongly refuting widespread media speculation about Cardano’s viability, founder Charles Hoskinson provided a detailed overview of future developments and initiatives, highlighting the cryptocurrency’s strong health and promising future.

Cardano Founder Blames Crypto Media

In a statement via X, Hoskinson expressed his frustration with the current narrative surrounding the ADA in the cryptocurrency media landscape. “Never in my career have I seen such a deep disconnect between the media perception of cryptocurrency influencers and Cardano and the reality and opinions on the actual underlying principles,” he said.

He highlighted that Cardano has important developments imminent, including what he described as “the most significant hard fork in the project’s history.” The upcoming Chang Hard Fork represents a pivotal evolution for Cardano that shifts control of the protocol fully to the community.

This move marks a historic leap toward full decentralization by burning all seven Genesis Keys. The upgrade, which is expected to significantly advance on-chain governance as outlined in CIP-1694, will introduce delegated representatives (DReps), further decentralizing the decision-making process within the ecosystem.

In addition to the hard fork, Hoskinson highlighted several other initiatives that could foster growth and innovation within the ecosystem. This includes the introduction of new technologies such as Hydra, a layer 2 scalability solution designed to improve transaction speeds and reduce costs, which is currently maturing. Hoskinson also highlighted that Cardano can boast of multiple partner chains, with Midnight and Prism among them.

Cardano’s active community engagement is evident in its rapidly growing number of DApps, significant research and development on blockchain scalability, and organization of major events such as the Rare Evo blockchain convention.August 15-17)These include the Cardano Foundation Summit in Dubai (October 23-24) and participation in TOKEN2049 in Singapore (September 18-19).

Additionally, the Project Catalyst initiative continues to be a driver of community-driven innovation, providing funding and support to projects that promise real-world applications and solutions. Looking ahead, the Cardano ecosystem is preparing for an important constitutional convention in Buenos Aires. Here, delegates will ratify the final version of Cardano’s constitution, further establishing the framework for decentralized governance.

“We are on the verge of the most significant hard fork in the project’s history. Many community DApps are growing rapidly and leading the industry in expanding R&D. Rare evo is going to be a huge event. The Foundation Summit is huge. , we will be present at Token 2049, we have maturing technologies like Hydra, we have partner chains, Midnight, Prism, numerous community events, catalysts and the Argentine Constitutional Convention,” Hoskinson said.

The ADA founder concluded with a strong message to its detractors: “Cardano is here, a behemoth that will have the industry screaming and berating us if we have to solve real-world economic, political and social problems. “The whole thing is beyond pathetic and just reflects the low quality and low effort they have put into our ecosystem.” This statement not only refutes claims of the demise of Cardano, but also calls on the cryptocurrency community to recognize and engage with real developments.

At press time, ADA was trading at $0.459.

ADA prices continue their sideways trend. 1 day chart | Source: ADAUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

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