Cardano’s Co-founder, Charles Hoskinson, has taken it upon himself to address the upsurge in negative sentiments surrounding the Cardano ecosystem. Hoskinson highlighted a continuing trend of conversations amongst X users leaning towards a bearish position but insisted that it does not encapsulate the actual state of the Cardano network.
“You all may have noticed that the Twitter sentiment around Cardano has been more negative lately. This change isn’t a reflection of our project somehow failing, but rather the desired result of Voltaire.” He wrote in a post shared on X.
Like other blockchain networks, the Cardano network is no stranger to failed projects. In a report shared by AlphaQuest, Cardano topped the list on Dead Coins. Notably, 74% of projects on the network have become inactive, and as a result, Cardano has now emerged as one of the ten ecosystems with the most defunct coins.
In his post, Hoskinson revealed that the development was associated with failing to scale Cardano’s governance to meet the ecosystem’s needs. Per his notations, the network has yet to explore several road map items, growth strategies, and partnerships necessary to drive growth.
Cardano’s Native Asset and the Voltaire era are promising game-changers
However, Hoskinson added that the presence of the Voltaire era, which is expected to bring about decentralization, is likely to turn things around. On September 1, 2024, Cardano completed the Chang Hard Fork, marking its official entrance into the highly anticipated Voltaire era.
Another promising project is the Cardano Native Asset, which Hoskinson considers essential for the asset’s success. According to him, custody and liquidity are also essential.
Hoskinson further emphasized the structure of Cardano, explaining that the network’s transparent landscape has played a major role in influencing public opinion. He went on to spotlight the role of the network’s on-chain government in its commitment to serving network users in over 100 countries.
The Cardano boss stressed that “short-term thinking, market manipulation, and companies seeking a handout” have no place in the Cardano community.
“Cardano isn’t dying. It’s thriving and growing. It’s also one of the last cryptocurrencies that still wants to be a real cryptocurrency and not the patron of Blackrock and Wall Street for number go-up preferences.” He asserted.
