Charles Hoskinson Defends Cardano Amid Rising Negative Sentiment Around Blockchain

• Charles Hoskinson attributes the recent criticism of Cardano to the blockchain’s transition into the Voltaire era, not failure.
• Cardano’s new Voltaire governance model aims to address previously unresolved issues and pave the way for future growth.
• The launch of the Midnight network highlights Cardano’s focus on privacy and innovation despite external criticism of the blockchain.

Cardano’s founder, Charles Hoskinson, took to his X (formerly Twitter) account today to address rising negative sentiment surrounding the blockchain network. Hoskinson believes the criticism stems from recent changes as the blockchain transitioned into the Voltaire era on September 1. He firmly denied claims that Cardano is failing and instead emphasized the new opportunities brought by this shift.

Voltaire Era Brings New Challenges

Hoskinson explained that the Voltaire era is opening up opportunities for governance changes and growth. According to him, the negative reactions from some in the community are not a result of Cardano’s decline but rather the expected challenges of this new phase. He highlighted how the new era would allow addressing long-standing issues that were previously unmanageable.

New Focus on Governance

The Cardano founder mentioned that governance under Voltaire would allow for tackling previously unresolved matters, such as unexplored roadmaps and partnerships. He stated that these improvements were long overdue, and the new governance model could now address them transparently and inclusively. This governance structure will work toward solutions with input from the community, making it stronger in the long run.

Hoskinson also highlighted Cardano’s ongoing development of a new project, the Midnight (NIGHT) network. This Cardano Native Asset focuses on privacy and private smart contracts, with Hoskinson personally overseeing aspects of its custody and liquidity. He noted that this project exemplifies how Cardano continues to innovate despite external criticism.

Cardano’s Unique Approach

Addressing the differences between Cardano and other blockchains, Hoskinson argued that Cardano’s transparent and open approach to governance sets it apart. He emphasized that this openness is why Cardano faces scrutiny, especially from those who rely on secretive backroom deals in other parts of the cryptocurrency world. 

He concluded by asserting that Cardano remains committed to its original vision as a true cryptocurrency, free from the influence of major financial institutions like BlackRock and Wall Street. Hoskinson expressed confidence in Cardano’s long-term success despite the current wave of negativity.