The post Charles Hoskinson Calls Out Cardano ‘Ghostchain’ Critics appeared on BitcoinEthereumNews.com.

Charles Hoskinson refused to let the network become a subject of ridicule, and he fired back at critics who referred to Cardano as a ‘ghostchain.’ He posted on X, reacting to a publication by the American business magazine Fast Company on activities bordering on crypto projects. Real Fact with Cardano and Rivals In the referenced document, Fast Company acknowledged the rising volume of market manipulation in the crypto industry. The company cited a study published by Cornell University’s preprint server arXiv. The report noted that fewer than 500 people are responsible for up to $250 million yearly in profits and over $3.2 trillion in artificial trading. Though no specific mentions were made, the report claimed that some crypto projects inflate their numbers to generate nonexistent hype. These projects tout fake recommendations, claiming they can convince ordinary people to buy cryptocurrency in the long run. Once this is achieved, the owners pull their stakes and crash the price, leading to massive investor losses. Hoskinson reacted to this article, stating that critics often rate Cardano, with its real numbers, as a ghost chain. However, he sarcastically noted that the chains with “fake numbers = VC darlings, mass adoption, changing the world.” Image Source: Charles Hoskinson on X The Cardano founder is keen on showcasing the network’s growth through genuine activities, unlike the subtle narrative being touted by members of other crypto networks. This update comes only a few days after Hoskinson dismissed fresh allegations that a few entities control the blockchain. These entities listed the Cardano Foundation, Input Output Global (IOG), and Emurgo as the three authorities controlling Cardano’s ecosystem. In their opinion, this structure disqualifies Cardano from being a decentralized network. Market Manipulations on Display While the issue of manipulations abound on most chains, Hoskinson has often advocated for real-time developer work on…

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Filed under: News - @ March 23, 2025 10:25 am