On September 14, from the heart of vibrant Wyoming, Cardano’s founder Charles Hoskinson delivered a compelling address aimed at overturning persistent “ghost chain” critiques. He emphasized that the cryptocurrency landscape has shifted its focus from fundamental values to a more superficial race dominated by venture capital interests, prioritizing speed and token-oriented economics over true decentralization.
Hoskinson expressed frustration over the negativity prevalent in cryptocurrency discussions, mentioning a recent community post that highlighted the detrimental sentiment surrounding Cardano. His rallying call to the community was clear: remain steadfast in the journey toward resilience, self-governance, and the core principles that define Cardano’s vision. “Hold on tight; the transformative resolutions are on the horizon,” he stated confidently.
Countering Criticism: A Stand for Integrity
The central point of the livestream was a fundamental clash of ideologies. Hoskinson criticized the current trend within the crypto sphere that often favors high transaction speeds and speculative investments—highlighting a range of trends from NFTs to GameFi—over the foundational goals of decentralization. “The narrative shifted away from creating inclusive, unbiased systems to merely optimizing for performance,” he argued.
According to Hoskinson, Cardano’s commitment to its foundational design principles accounts for its more measured approach to development. This adherence to core values may result in a slower evolution, yet it remains an essential part of the network’s identity: “We’ve consistently innovated while adhering to the highest standards of integrity and research,” he added.
He underscored the project’s past decade as an ongoing commitment to creating robust structural components, including the extended UTXO model and the innovative governance framework that allows for transparent decision-making. “Every year, we’re progressing toward enhanced decentralization and resilience,” Hoskinson said. “We take inspiration from the best ideas in crypto, yet we never veer from our core principles.”
Regarding scalability, Hoskinson revealed that Cardano stands on the brink of a new era. He mentioned that the incorporation of “Leios” is entering its final stages, hinting at an expansive scalability agenda that aligns with emerging technologies like zero-knowledge proofs and Hydra, which aim for unprecedented throughput capabilities. “This evolution positions us to seamlessly adapt to the dynamic demands of societal structures, both globally and locally,” he elaborated.
He also outlined a strategy that strategically targets a wider audience beyond just crypto enthusiasts. “With less than 5% of the planet engaged in cryptocurrency, we should focus on expanding our reach into broader markets,” he stated.
In promoting Cardano’s visibility, he emphasized initiatives like establishing integrated solutions supporting ATMs and point-of-sale services, alongside advocating for enhanced privacy measures with projects like Midnight. Additionally, Hoskinson highlighted the ecosystem’s collaborative nature, particularly its partnership with Bitcoin to foster shared values in the crypto space.
Visionary Goals on the Horizon
Geographically, Hoskinson spotlighted the impressive progress Cardano is making in regions like Argentina and Africa. He noted the establishment of significant offices in Buenos Aires and regular community events aimed at strengthening ties in Latin America. In Africa, crucial identity initiatives are set to launch, promising economic identity accessibility to vast communities by 2026. “Visionaries must often navigate uncharted territories alone, and we’ve embraced that journey over the past decade,” he recounted.
A prominent theme in his address was the governance milestones achieved during the “Voltaire” phase, which he proudly declared a success. He touted the initiatives empowering community governance, including the establishment of a constitutional committee and an annual budget, which unite the ecosystem under shared governance goals. “We stand out as the first blockchain to implement such comprehensive governance frameworks,” he asserted.
In a rare moment of introspection, Hoskinson acknowledged the need for a swifter pace in some areas of development. He has also been vocal about overcoming past misunderstandings and criticisms, mentioning allegations that were proven baseless through extensive audits. “Systematic misinformation can linger, and it takes time to reshape perceptions,” he remarked.
Closing his remarks, Hoskinson urged the community to redirect their focus toward future possibilities, inspiring entrepreneurs to bring millions into the ecosystem. “In the next couple of years, Cardano will position itself as the ideal platform for scalable development, with an unwavering belief in our mission,” he concluded, stating that the best days for Cardano lie ahead.
At the time of publication, ADA’s market price stood at $0.89.
