The context: Charles Hoskinson is the director of Input Output Global (IOG), the company behind Cardano (ADA), one of the most important cryptocurrencies in the sector. By declaring that Cardano was completed, Hoskinson was actually looking to explain that the network had fulfilled the initial contractual obligations defined for Iog during the launch of Cardano in 2015. Charles Hoskinson’s Declaration on Cardano arouses a strong reaction from the community The remarks of Charles Hoskinson stem from the expiration of the initial Iog contract, which started with the distribution of the Cardano in 2015. “Cardano is completed. The initial contract expired in 2020. I have been working for free since 2020 because I want Cardano, “said Hoskinson. He also explained that the scaling according to the initial roadmap is finished, adding that it remains in constant evolution. In addition, according to Hoskinson, Iog is currently working on advanced scaling solutions, including Leios and Hydra. However, these projects could be “in danger” without guaranteed funding. According to Charles Hoskinson, the lack of funding could indeed push them to seek other opportunities. This declaration aroused reactions, attracting in particular strong criticisms from the long members of the Altcoin community. “I say it with respect: how was the contract completed if the scaling was not fully carried out according to the roadmap?” Asked a user. Cardano’s initial roadmap, which Hoskinson claims to have concluded in 2020, promised a scalability to compete with the main competing blockchains. Hydra, in particular, aims to allow the parallel treatment of transactions. This update could increase the cardano flow to compete with the 65,000 theoretical transactions (TPS) of Solana, and which have a striking contrast with its current TPS. TPS of Cardano. Source: Cexplorer.io/TPS however, community members maintain that Cardano is still far from his vision of third generation blockchain for massive adoption. “Basho, Leios and Hydra were all mentioned and they were not implemented on the main network. So, how was Cardano completely completed according to the initial roadmap? These elements are clearly lacking, ”added another user. In parallel, this controversy extends to more general concerns concerning the governance of Cardano and its financing model. Charles Hoskinson notably expressed that Iog would not work at a loss or free. He also challenged community pressure for decentralized decision -making, in particular concerning the idea of ”competitive submissions” for development work. According to Hoskinson, this approach disadvantages Western developers in high cost regions. The founder of Cardano believes that pleading for such a model could force the IOG to dismiss staff or to establish development centers in regions at a lower cost such as India or Eastern Europe. “(…) I will not dismiss hundreds of employees either and replace them with developers at a lower cost to compete with cheap offers as most companies do. We are not a time and equipment business. We build cryptocurrencies, “he said. Hoskinson previously criticized the governance structure of the Cardano Foundation, claiming that it marginalizes the ADA community, and advocated a transition to an organization based on membership (MBO). Among other previous disputes, we can also mention debates on the allocation of the budget and divergent points of view on the recently introduced constitution of Cardano. Indeed, although the foundation expressed its desire to support the new constitution, it reported a certain caution concerning budgetary approvals, citing a need for additional examination. Cardano price performance (ADA). Source: Beincrypto finally, when writing this article, the Cardano’s token Ada was negotiated at $ 0.68, down almost 2 % in the last 24 hours. Morality of history: a report on Charles Hoskinson still has its share of criticism. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, BEINCRYPTO undertakes to provide impartial and transparent information. This article aims to provide exact and relevant information. However, we invite readers to verify the facts of their own and consult a professional before making a decision on the basis of this content.
Charles Hoskinson arouses controversy about Cardano
