Charles Hoskinson Responded to Concerns on New Developments on Cardano

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Charles Hoskinson, the founder of Cardano, has been in the spotlight recently due to his statements regarding the development and evolution of the company. Hoskinson addressed a series of concerns and criticisms raised by the ADA community and provided clarity on the platform’s future.

One of the highlighted topics is the acquisition of the non-custodial wallet Nami Wallet by Input Output Global (IOG), the company led by Hoskinson.

This acquisition raised certain concerns within the Cardano community, as some members expressed worries about potential centralization implications.

Nami Wallet, which is popular among users of Cardano-based cryptocurrencies, will become part of the IOG product family starting on November 1, 2023.

Hoskinson has emphasized that this acquisition aims to enhance the user experience and not centralize the platform.

Another point of concern was the introduction of the Midnight blockchain. This blockchain was designed to strengthen data protection on the Cardano network and enable the creation of secure smart contracts and decentralized applications.

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Hoskinson Addresses Ongoing Critiques of Cardano

Some community members feared that this could indicate a departure from the core platform. However, Hoskinson clarified that the Midnight blockchain is intended solely to enhance the platform’s functionality and attract more users.

The CEO of Cardano also addressed critiques related to the Cardano Improvement Proposal 1694 (CIP 1694). This protocol has been a subject of debate due to concerns about centralization on the network.

Charles explained that CIP 1694 is a mechanism for on-chain governance aimed at decentralizing decision-making on the network, allowing Cardano holders to influence its direction.

“We have products and services and are here to bring millions into the ecosystem. I don’t understand why when we start doing that and deploy millions in capital, some are actively hostile.”

With varying degrees of success, Hoskinson attempts to alleviate the concerns of the community and provide clarity on the recent developments on the platform.

According to him, the goal has always been and will continue to be driving growth, adoption, and decentralization in the ecosystem. The platform continues to evolve with the aim of strengthening its position in the market


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