TL;DR

Charles Hoskinson, founder of Cardano, revealed details about his personal investment in the development of the blockchain, emphasizing his commitment to the project.
Charles addressed the demands for transparency within the Cardano ecosystem and discussed the financial sacrifices he has made for the community.
He stated that his personal investment totals around $450 million, with the goal of taking Cardano from its initial phase to its current development.

Charles Hoskinson, the founder of Cardano, has shared details about his personal investment in the development of the blockchain, highlighting his commitment to the project.

In a video published by Plutus Staking, Hoskinson addressed the demands for transparency within the Cardano ecosystem and discussed the financial sacrifices he has made for the community.

Charles on the true cost of building #Cardano

“Spent out of my own pocket $450M for this ecosystem”$ADA $BTC pic.twitter.com/C6qxX4ZpgY

— Plutus Staking (@PlutusPool) November 4, 2024

According to his statements, he has invested a significant amount of resources into the growth of the platform, noting that payments to development contractors have amounted to approximately $38 million, most of which were allocated to Bitcoin and a smaller portion to Ethereum.

In addition to these payments, Hoskinson stated that his personal investment totals around $450 million. This figure, according to him, was part of a long-term effort to bring Cardano from its initial phase to its current development.

According to Hoskinson, Cardano Will Surpass Bitcoin in Achievements

He also addressed the criticisms regarding the lack of transparency in the project’s finances, with the founder of Cardano defending the nature of the ecosystem, arguing that the blockchain does not operate as a profit-driven entity, which makes the demands for accountability, in his view, unfair.

The discussion generated by the video has sparked a debate among members of the crypto community. Some recognize the value of Hoskinson’s vision, while others believe it is valid to question his leadership and decisions, reminding the importance of verification in the blockchain.

Despite the criticisms, Charles remains optimistic about the future of Cardano, predicting that the platform will surpass Bitcoin and Ethereum in achievements over the next decade. This statement was made during the fourth edition of the Cardano Summit, which was recently held in Buenos Aires, Argentina. The founder bases his confidence on the significant milestones achieved by the network in its seven years of existence.

According to CoinMarketCap, ADA has faced volatility in the market, trading at $0.3254 with a 2% decrease in the last hours

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Filed under: News - @ November 4, 2024 5:20 pm