The recent poll results for the “Blockchain Life Awards 2024” have sparked a wave of reactions from the Cardano community, including a scathing critique from Charles Hoskinson, founder of Cardano (ADA).
The poll garnered significant attention and pitted Cardano against other prominent crypto projects like Ethereum, Solana, and BNB Smart Chain. Despite Cardano’s second-place finish in the category of “Layer-1 Solution of the Year”, many within the community expressed dissatisfaction with the results.
Hoskinson, in a Wednesday tweet, slammed the poll as “engineered to produce an outcome prior to a single vote being cast.” He argued that the organizers were biased towards the winners and excluded many projects and individuals from voting.
“I love how people are getting hyped up about this poll,” Hoskinson wrote. “It was engineered to produce an outcome prior to a single vote being cast. The organizers are associated with the winners. They won’t even allow people to enter custom fields thus many projects and people were left off. One thing is clear. If it’s a fair vote, Cardano always wins,” wrote Hoskinson.
Hoskinson received support from ADA proponents with one user under the pseudonym “Cardano DApp ₳nalyst,” highlighting the discrepancy between market capitalizations and the poll rankings, suggesting that Cardano’s popularity transcends its market position.
“The fact that ETH SOL BNB are higher market cap, yet Cardano was voted 3.6x higher than Ethereum means that people don’t actually think Ethereum is the future. It means Cardano is and market cap will soon reflect it.” He wrote.
Notably, the controversy surrounding the poll arrives amidst broader scepticism and criticism directed at the Cardano ecosystem. Despite assertions of Cardano’s technological prowess and potential, detractors have voiced concerns about the platform’s perceived shortcomings. Some users have expressed dissatisfaction with the high cost of holding ADA, citing the presence of newer and more advanced networks. Concerns have also been raised about the potential impact of the ongoing bear market on Cardano’s future growth.
Despite the challenges, the Cardano community remains resilient and optimistic, with Hoskinson occasionally urging users to stay calm amid impressive network fundamentals. Recent data from crypto analytics firm IntoTheBlock highlights Cardano’s status as the most actively developing crypto blockchain, outstripping even behemoths like Ethereum regarding developer engagement.
Moreover, this surge in developer activity on Cardano is likely a contributing factor to its impressive price surge in QI of this year, with ADA witnessing a remarkable rise of over 70%, reaching a price of $0.81 in mid-March. ADA has, however, recoiled by about 28% since then amid a wider crypto market drawdown, with analysts now looking for a possible support level at $0.45.
ADA was trading at $0.57 at press time, reflecting a 0.78% price decline over the past 24 hours.
