Cardano Founder Discusses ADA's Future And Exciting Updates

In a forceful rebuttal to widespread media speculation about the viability of Cardano, founder Charles Hoskinson has provided a detailed rundown of forthcoming developments and initiatives which he believes underscore the cryptocurrency’s robust health and its promising future.

Cardano Founder Slams Crypto Media

In a statement via X, Hoskinson expressed his frustration with the current narrative surrounding ADA in the crypto media landscape. “Never in my career have I seen such a profound disconnect between reality and opinion with the cryptocurrency influencer and media perception of Cardano versus its actual fundamentals,” he stated.

He emphasized that Cardano is on the brink of significant developments, including what he describes as the “most significant hard fork in the history of the project.” The forthcoming Chang Hard Fork represents a pivotal evolution for Cardano, transitioning control of the protocol fully to the community.

This move will burn all seven genesis keys, thereby marking a historic leap toward complete decentralization. The upgrade, anticipated to significantly advance on-chain governance as outlined in CIP-1694, will also see the introduction of delegated representatives (DReps), further decentralizing decision-making processes within the ecosystem.

Beyond the hard fork, Hoskinson highlighted several other initiatives poised to catalyze growth and innovation within the ecosystem. These include the introduction of new technologies such as Hydra, a layer-two scalability solution designed to enhance transaction speeds and reduce costs, which is currently in the maturation phase. Moreover, Hoskinson highlighted that Cardano can boast several partner chains with Midnight and Prism.

Cardano’s active community participation is evident in the rapidly growing number of DApps, significant research and development in blockchain scalability, and the organization of major events such as the Rare Evo blockchain convention (August 15-17), the Cardano Foundation Summit in Dubai (October 23-24), and participation in TOKEN2049 in Singapore (September 18-19).

Moreover, the Project Catalyst initiative continues to be a driving force for community-led innovation, providing funding and support to projects that promise real-world applications and solutions. Looking forward, the Cardano ecosystem is also preparing for a significant constitutional convention in Buenos Aires, where delegates will ratify a final version of Cardano’s Constitution, further establishing the framework for decentralized governance.

“We are on the verge of the most significant hard fork in the history of the project, tons of community DApps are growing rapidly, we are leading the industry in scaling R&D, rare evo is going to be a huge event, the Foundation summit huge, we’ll be at Token 2049, technologies like Hydra are maturing, we have partnerchains, Midnight, Prism, tons of community events, catalyst, and then the constitutional convention in Argentina,” Hoskinson stated.

The ADA founder concluded with a strong message to detractors, asserting, “Cardano is here to stay, and it’s a juggernaut that will drag this industry kicking and screaming if it has to towards solving the real-world economic, political, and social issues we all is beyond pathetic and just reflects on the low quality and low effort they put into our ecosystem.” This statement not only refutes claims about Cardano’s demise but also challenges the cryptocurrency community to recognize and engage with the substantive advances being made.

At press time, ADA traded at $0.459.