Charles Hoskinson: Cardano Updates

Amid recent criticism surrounding its native tokenization and ecosystem, Charles Hoskinson, co-founder of Cardano, has unveiled plans for two significant updates to the Cardano network, with at least one scheduled for release this year, as reported by CNBC.

In response to skepticism surrounding the blockchain, Hoskinson emphasized Cardano's strong position, stating, "We are holding all the cards as an ecosystem." He highlighted Cardano's superiority in scalability, governance, and innovation, as well as the strength of its community, addressing the negative sentiments directed towards the project.

Hoskinson's optimism primarily stems from the upcoming Chang hard fork, expected to be one of the network’s most substantial upgrades since the 2022 Vasil upgrade and scheduled for the second quarter of this year.

Chang marks the first hard fork of the Voltaire era in Cardano’s roadmap, introducing the concept of community-driven governance to the blockchain. This will enable on-chain community consensus and allow ADA holders to participate in voting on proposals, ultimately aiming to achieve full decentralization through community governance.

"Chang is coming soon, as indicated by progress on SanchoNet," noted Hoskinson.

Furthermore, Hoskinson highlighted Ouroboros Leios as a significant advancement for Cardano. Ouroboros Leios represents a new version of the proof-of-stake consensus model, designed to increase throughput, scalability, and transaction speed while maintaining decentralization.

Hoskinson's statements came in response to a video from April 7 by Ben Armstrong, also known as 'BitBoy', who questioned the future of Cardano. Armstrong compared Cardano to other blockchain projects such as Solana (SOL), Sui (SUI), and Toncoin (TON), which he claimed were experiencing significant growth in terms of users, activity, and price action, while Cardano's metrics were perceived as less impressive.

Despite the criticism, Hoskinson remains confident in the direction Cardano is heading, emphasizing the forthcoming updates and the strength of the community as key driving factors behind the project's development.

*This is not a financial advice