All news

Cardano founder: With ADA and XRP, we moved mountains to revolutionize ecosystem

Posted on by admin
03
Oct

Courtesy of Charles Hoskinson’s Twitter

  • Hoskinson wonders why the Cardano critics can’t see any of the network’s feats this year.
  • The Cardano founder had previously stated that the network’s best days are still ahead.

Cardano founder, Charles Hoskinson, has responded to criticism of XRP and ADA by the famous trader, Pentoshi. Pentoshi had tweeted that both protocols thrive on empty promises, tweeting “over promise, under deliver and never deliver.” Pentoshi may have spoken out what some in the industry have often claimed, especially about Cardano.

Some Cardano-built projects have been different from what they promised to users. The most notable project has been Sundaeswap which had several issues in the beginning, including some congestion issues. In his responses, Hoskinson likened Pentoshi’s criticism to religious beliefs.

Hoskinson said what surprises him is that many who make such tweets still believe in the project, no matter the evidence. He added that he wonders why the critic can’t see any of the projects’ accomplishments since they have “moved mountains together.”

A Twitter user also responded to Pentoshi’s criticism asking him how XRP has underdelivered. This Twitter user cited the examples of ODL corridors being set up and used in various places worldwide. It is worth noting that both projects have reached new heights this year.

With the significant increase in volume, ripple’s on-demand liquidity (ODL) has achieved a new record with 9X year-on-year growth. Customers expanded the use of ODL for use cases in bulk payments accounting and treasury flows in addition to traditional remittances and personalized payments. Ripple’s ODL is now being used in new regions, particularly Lithuania. Also, there have been more collaborations for ripple.

Like Ripple, Cardano has also achieved notable feats this year. After the Vasil hard fork launch on Cardano mainnet on September 22, the network saw the deployment of the upgrade’s full functionalities. Cardano agreed on new deals with Georgian Wine and Stanford University. Also, stock brokerage firm, Robinhood, listed Cardano’s native token (ADA).

Cardano’s best days are still ahead – Hoskinson

Per multiple reports, Hoskinson stated in a recent interview that the crypto market is disconnected from reality even though ADA’s price has underperformed so far this year. However, Hoskinson claims that Cardano still has its best days ahead, and the network has “never been stronger.” The Cardano founder also lauded other crypto projects saying most of them are strong even though their token prices aren’t reflecting their strong performances.

Hoskinson reiterated that macroeconomic variables primarily cause the current crypto winter. The continued declines in the crypto market in the third quarter of 2022 were mainly driven by these macroeconomic variables. Recently, the Cardano founder said about the launch of the Voltaire era.

According to him, the era would solely focus on decentralized governance. Thus, supposedly turn the Cardano blockchain into a fully autonomous system. During this era, community members would be in complete control as they would have the power to submit improvement proposals. Hoskinson boasts that Cardano will teach other crypto players “the ideal way to run a decentralized governance” system.

admin