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- Cardano is unable to avoid criticism. Its accounts of adoption are criticized as misleading, despite the project maintaining a transparent and optimistic vision.
- Hoskinson believes that being the CEO of a tech company in the crypto industry is a tempestuous affair.
- As per a few analysts, Competitors of Cardano, Avalanche & Solana emerged due to the “slowness” it shows. No executives take any criticism on their chin.
Over the past few years, Cardano became one of the more excellent performing projects in the industry. ADA, the Cardano token, has traveled quite long over price charts, irrespective of its downfall; recently, the constant flow of developments has undoubtedly helped it on its way.
Cardano Criticized
Still, Cardano failed to avoid criticism. Many have targeted Cardano specifically for its accounts of adoption as misleading, even though the project’s professionals have successfully maintained an optimistic and transparent vision of the future where the project is headed to. Yet, how much has Cardano improved as a platform, and noting its features, is it capable of significant adoptions?
The primary question must be, for how long must everyone keep patience. This is something that should be realized and responded to by the executives of Cardano. Cardano was founded by Charles Hoskinson back in 2015, and he recently tweeted, “I just wrote a blog post on my experiences meditating silently in the mountains for a week.”
The Ecosystem
First, come to the obstacles, and now this. The ecosystem of the cryptocurrency could be anything but not calm at the least, and the problems are a kind of guarantee here. Hoskinson realized this as he stated that “being the CEO of a technology company in the cryptocurrency space is a brutal affair. There is really nothing like the 24/7 blast of information, scandals, new protocols, concepts ranging from NFTs and the metaverse to a constantly changing landscape.”
The Believes
The developments could take some time in the fast-paced system, and Cardano isn’t spared from it. As executives believe, Cardano focuses on the long-term game rather than the short-term that its competitors follow. Hoskinson further explained that “projects like Cardano were and still are the antithesis of this mentality. We’ve always chosen a systematic, patient, and refined process that moves publication by publication, release by release instead of chasing hype and the latest cycle.”
Also, “Our view is that these protocols will be as ubiquitous as the Internet and be used by billions. This scale of adoption will take years to decades, not weeks to months, and won’t be a meme. Ultimately it’s the long game that matters.” Seeking clarity and peace among the FUD is no less than an ultimate challenge.
Cardano’s Slow Developments
Cardano claims that it is an agile, resilient, and secure network that will continue to adapt and grow with every revolutionary move it makes. The transformative process of Cardano includes changes in network parameterization. Hoskinson claimed that, while evolving, Cardano’s primary focus will be steady evolution.
The network has been criticized by many for its congestion and slow developments. Some analysts believe that competitors like Avalanche, Solana, and others caught the pace due to Cardano’s slowness. However, executives have taken no criticism personally or with much seriousness. This can be seen in Hoskinson focusing on actual adoption critics. He wrote, “Hey Ghost Chain carnival barkers, I ran out of space for my picture. I guess I need a bigger one”, and posted a collage demonstrating Cardano’s ecosystem.
Many believe that the significant problem that resists Cardano’s eager requirement as a powerhouse does not lie in the blockchain but the human processes. It is believed that an additional relegation of Cardano might be seen soon enough.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
