Charles Hoskinson Combats Cardano (ADA) Detractors And Dispels Common Myth
Charles Hoskinson retaliated to the anonymous Twitter user who offered his counsel against Cardano and XRP by claiming that both projects never fulfill their promises. The co-founder of Cardano finds it fascinating that the people who tweet such ideas genuinely hold those beliefs in spite of the evidence.
Cardano is never reliable
The idea that Cardano’s developers never follow through on their initial promises is a popular anti-Cardano myth in the market. It mostly came about as a result of certain Cardano-related initiatives turning out to be different from what users had been promised.
However, in the majority of cases, it was because of the network’s and the solutions’ inexperience. The most noteworthy company in the Cardano DeFi sector was SundaeSwap, which had a lot of problems at first and even experienced some congestion.
The eUTXO paradigm, which does not need including more than one transaction in the block, is the main cause of Cardano’s issues. Because of this, the Cardano developers had to devise alternate techniques to enable DeFi on ADA.
Charles Hoskinson’s perspective
Similar to what he has demonstrated in the tweet, the developer cannot find any sense in such remarks. According to Hoskinson, every year the Cardano engineers work together to move mountains, yet representatives from other networks are unable to view any of it for unclear reasons.
The market performance of Cardano is far from ideal despite some development progress, as the cryptocurrency has been going in a sustained downtrend for the past 400 days. Technically speaking, Cardano (ADA), which is ranked 10th among cryptocurrency assets by market capitalization, continues to be the least lucrative asset. If the market witnesses yet another ADA run, like the one we experienced in August 2021, the situation could, however, alter.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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