Charles Hoskinson Highlights Cardano’s Major Upgrades Amid Criticism

Charles Hoskinson, the co-founder of Cardano, is optimistic about the future of the network despite recent criticism. He believes that Cardano has the best path for scalability, governance, and innovation, as well as a strong community. Hoskinson is particularly excited about the upcoming Chang hard fork, which is expected to be one of the network’s biggest upgrades since the Vasil upgrade in 2022. This hard fork will introduce community-run governance to Cardano, allowing ADA holders to vote on proposals and making the network more decentralized.

Hoskinson also mentioned the Ouroboros Leios upgrade, which is designed to improve the throughput, scalability, and transaction speed of Cardano while maintaining decentralization. He believes that this upgrade is a significant step forward in solving the blockchain trilemma. In response to criticism that Cardano is falling behind other cryptocurrencies like Solana, Sui, and Toncoin, Hoskinson argued that the crypto industry is too focused on short-term narratives and price action.

Some members of the community, like Daniel Friedman, the CEO of zenGate Global, believe that the hate towards Cardano is mostly emotional and not based on rational reasoning. Friedman chose to build on Cardano and Ergo because he believes it is the best business and architecture decision, not because of emotions. Another Cardano advocate, Dan Gambardello, suggested that the fear, uncertainty, and doubt (FUD) surrounding Cardano is due to the low price of ADA. He believes that if the price was higher, there would be fewer negative comments.

ADA prices have been lackluster this year and have even declined since the beginning of 2024. At the time of writing, ADA was trading at $0.584, down 10% in the past seven days. It has also dropped significantly from its all-time high of $3.09 in September 2021. Hoskinson remains optimistic about the future of Cardano and believes that the network’s upgrades will address these concerns and propel it forward.