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Charles Hoskinson, the founder of Cardano is focused on two major upgrades. Moreover, He is defending Ben Armstrong, also known as “BitBoy”.
Cardano’s founder, Charles Hoskinson, is focusing on two significant upgrades that are expected to take place this year on the Cardano network. These upgrades come amid recent criticism of the blockchain’s native token and ecosystem.
Charles Responded To The Criticism
Hoskinson responded to the criticism by stating that the Cardano ecosystem has the best path for scalability, governance, and innovation, as well as the best community. He made these comments in an April 7 post on X.
The upcoming Chang hard fork, scheduled for the second quarter of this year, is one of the network’s most significant hard forks since the 2022 Vasil upgrade. Hoskinson is optimistic about Chang, as it marks the first hard fork of the Voltaire era of Cardano’s roadmap.
Chang will introduce community-run governance to the blockchain by enabling on-chain community consensus, allowing Cardano’s ADA holders to use their tokens to vote on proposals. This move is seen as a means of achieving full decentralization for the network.
The transition will also introduce Delegate Representatives (DReps). It is Cardano Constitution Convention event, and a Cardano community vote to ratify the first draft of the Cardano Constitution.
Charles Hoskinson Defended Cardano
Charles Hoskinson defended Cardano on social media after BitBoy’s video suggested that “ADA is dead”. He emphasized Cardano’s strength in scalability, innovation, and community support. Moreover, he also highlighted Ouroboros Leios as the best solution to the blockchain trilemma.
Moreover, Hoskinson believes that the negativity is due to a focus on short-term narratives instead of the long-term picture.
The Chang hard fork is the biggest upgrade since Vasil in 2022 and is slated for Q2 in 2024. It is the first hard fork in Cardano’s Voltaire era, centered on governance. Chang will introduce community governance to enable the Cardano network to become fully decentralized.
Hoskinson made these comments in response to a video by Ben Armstrong (aka BitBoy), who questioned whether Cardano was “dead.”
Armstrong compared Cardano to Solana, Sui, and Toncoin, which were “blowing up” and “killing it” in terms of users, activity, and price action, while Cardano’s numbers were “not fantastic.”
Despite the upcoming positive developments, Charles Hoskinson’s ADA price has struggled in 2024. Moreover, it is currently trading at the same price as it did in January. The recent breakdown from an ascending support trend line has raised concerns that the price might continue in the uptrend.
This will occur through three main stages: the introduction of Delegate Representatives, a Cardano Constitution Convention where the first version of the constitution will be drafted, and a vote on ratifying the Cardano constitution.
Many Cardano investors are optimistic about the future, with projections suggesting exponential growth potential. Changelly predicts that Cardano will rise to $237 by 2040, and the Cardano Foundation continues to add ecosystem extension and community engagement to the otherwise positive weight of its resilient market narrative.
Summary
Cardano’s founder, Charles Hoskinson, is focusing on two significant upgrades expected to take place this year on the Cardano network, which he defends on Twitter after BitBoy’s video suggested that “ADA is dead.” Despite the upcoming positive developments, the ADA price has struggled in 2024 and is currently trading at the same price as it did in January.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of monetary loss.
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.
