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- 1 Charles Hoskinson hosted a livestream video to update the cardano community.
- 2 After a day of hosting, an unknown user
Charles Hoskinson, in his community updates livestream highlighted the recent developments regarding the blockchain. One day after the livestream, an unknown user tweeted on X reacting to the video that the founder of Cardano is not confident about the future of the blockchain.
The user said that these are not the words of confident Charles and it sounds like a threat, just another way of centralization. He added “ I believe in Cardano. Not so much going forward. Sadly this is a great project.”
Charles’ representative asked the user regarding this tweet. He tweeted that the user commented based on a clip where Hoskinson said the CIP:1694 upgrade was important for the Cardano ecosystem. The comment is made on a soundbite of just 1 minute whereas the video was 45 minutes long.
The user apologized and said that he didn’t watch the entire video but promised to watch the complete video and come up with a different perspective. According to Hoskinson, the tricameral decision-making process is a move regulating towards more decentralization.
He also highlighted that it incorporates the involvement of Cardano delegated representatives, SPOs, and a constitutional committee. He further added that they would individually or jointly need to vote for listed issues. The Cardano blockchain would be a more robust and secure ecosystem as the voting process is distributed between stakers, delegated, and elected members.
Charles also said that to make the blockchain more transparent and decentralized, the tricameral system is a better governance system than Bitcoin and Ethereum blockchains.
Regardless of this, users are still concerned about blockchain development and growth. Recently, the Cardano blockchain had drawn criticism for its decision-making, which was intensified in the hands of its Genesis key holders. The new update places that duty in the third body of stakers, delegated representatives, and a constitutional committee.
Charles added that this system will make the blockchain more robust, secure, and closer to full decentralization. The community members have concerns regarding the updates and Hoskinson has to respond to these concerns and ensure that the blockchain is closer to its goals.
Also, Hoskinson countered the claims that Cardano-based projects were being abandoned. He said that the projects are on the way and the blockchain is closer to unleashing its goal.
Summary
When Charles Hoskinson came up with the video of the latest updates regarding the blockchain a day later, he faced criticism. An unknown user posted on social media that the Cardano founder was not confident regarding the future of the blockchain. The comment was made based on a small part of a very long video, and the community promptly pointed it out.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
