The post Charles Hoskinson Defends Cardano Against ‘Zombie Chain’ Label appeared on BitcoinEthereumNews.com.

Charles Hoskinson, founder of Cardano, has voiced frustration over what he perceives as unfair media coverage of the blockchain network. In a recent post on X, he highlighted a disconnect between Cardano’s capabilities and its public perception. Hoskinson pointed out that despite numerous positive developments in recent months, media outlets and crypto influencers persistently portray Cardano as a failure. He criticized this narrative, emphasizing recent ecosystem advancements, including an upcoming hard fork. Hoskinson further asserted that Cardano will continue to thrive and provide solutions. “It’s beyond pathetic and just reflects on the low quality and low effort they put into our ecosystem. Cardano is here to stay, and it’s a juggernaut that will drag this industry kicking and screaming if it has to towards solving the real-world economic, political, and social issues we all face,” Hoskinson said. Read more: Who Is Charles Hoskinson, the Founder of Cardano? In response to the perceived bias, Hoskinson contemplates creating a not-for-profit media decentralized autonomous organization (DAO). Hoskinson said this DAO would focus on ensuring fair reporting within the crypto industry. So, he initiated a poll on X to gauge community support for using the Cardano Treasury to fund the DAO. Notably, 70% of the respondents favor the move, with voting expected to end by July 13. Meanwhile, this is not the first time Hoskinson has addressed Cardano’s critics. The blockchain has faced scrutiny for not meeting expectations compared to peers like Ethereum and Solana and complaints over its ADA token price struggles. Earlier in the year, Forbes included Cardano in its “zombie chain” list, claiming the network’s value is primarily driven by Hoskinson’s popularity. Additionally, Cardano has seen limited adoption in decentralized finance (DeFi), with its DEX trading volume representing just 0.04% of the market. Nevertheless, Cardano continues to highlight its technological advancements. The…

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Filed under: News - @ June 9, 2024 4:22 pm