Cardano Community Warned of ADA Giveaway Scams Ahead of Chang Upgrade

• Cardano’s Chang upgrade signifies a pivotal shift to on-chain governance, boosting its position as a blockchain leader.
• The Cardano community faces rising ADA giveaway scams ahead of the Chang upgrade, urging caution and awareness.
• Charles Hoskinson critiques Bitcoin’s stagnation while highlighting Cardano’s ambitious vision for global blockchain innovation.

The Cardano community is preparing for a turning point in its blockchain journey as the much-awaited Chang upgrade draws near. The Voltaire Era will begin with this upgrade, which has been years in the making and represents a move toward on-chain governance as described in CIP-1694. For Cardano to become a self-sustaining blockchain leader in the market, stakepools must update their nodes to support the new protocol.

Rising Threat: Fake ADA Giveaway Scams

Pete, also known as astroboysoup on X, has warned about the rise in fraudulent offers purporting to be an ADA giveaway as the upgrade approaches. Scammers are more common as the hard fork draws near, and sadly, more people are falling for their con games. There are no ADA freebies, so it’s imperative to raise awareness on all media.”

Pete brought out the use of deepfakes that purport to show Charles Hoskinson, the founder of Cardano, endorsing ADA giveaway schemes. Free ADA coins are usually offered to victims of these scams in exchange for a small first contribution. 

They are often spread through social media channels, phishing emails, or counterfeit websites designed to mimic legitimate Cardano platforms. The scammers vanish once the initial transfer is made, leaving victims empty-handed.

The Cardano community is cautioned to view any claims of official ADA giveaways with utmost caution and suspicion in light of these dishonest practices. These frauds take advantage of people’s enthusiasm and confidence in the community, putting their victims in serious financial danger. Users should avoid conducting transactions that entail sending cryptocurrency to unknown addresses and instead confirm information directly from reliable sources.

Hoskinson’s Critique of Bitcoin’s Evolution

In a recent chat with Altcoins Daily, Charles Hoskinson shared his thoughts on Cardano’s growth path and Bitcoin’s stagnation. Hoskinson wasn’t too impressed with Bitcoin, saying it lacks innovation and flexibility. He thinks Bitcoin’s value mostly comes from its past success rather than any new tech advancements. He warned that without innovation, Bitcoin could become as outdated as old giants like Yahoo and MySpace.

On the other hand, Hoskinson highlighted Cardano’s dedication to ongoing innovation and uptake, imagining its development into a multitrillion-dollar ecosystem. He presented Cardano’s plan to use cutting-edge blockchain technology to completely transform the world’s political, social, and economic structures. This vision is centered on Cardano’s strong governance system, which Hoskinson believes is essential to any cryptocurrency project’s long-term viability and success.