The situation of Cardano (ADA) is debated as its price falters. The concerns extend to the principles of its network, prompting its CEO to give candid answers.
The current challenges of Cardano (ADA)
Cardano (ADA), the ninth largest crypto by total market value, is currently going through a sideways phase. Over the past 7 days, the ADA price has indeed fell 1.7%, while the other top 10 cryptocurrencies managed to remain relatively flat.
Result: Cardano (ADA) finds itself at the center of growing criticism. The latter even target the operating principles as well as the promises of the Cardano network.
Cardano CEO Charles Hoskinson has therefore decided to respond to criticism. “Venture capital tokens held and invested by venture capitalists are different from ADA”, he explained. The CEO of Cardano even responded directly to those who claim that Cardano (ADA) is ephemeral. “Cardano is here to stay”he argues.
According to Hoskinson, one of the main reasons to criticize the Cardano network is its scalability and efficiency. Additionally, the fact that the network is encrypted with Haskell has resulted in a severe shortage of developers.
Constant progress for a solid future
According to the CEO of Cardano, ADA has had a significant impact on the crypto market with a 3000% increase during the bull run of 2021. Since then and despite many technical advances, the price of ADA has however continued to fall. This shows that technical advances are negligible before a bull market, suggesting a rising trending process for ADA.
A claim supported by a famous crypto user on Twitter. According to Stake with Pride, Cardano is progressing slowly, but steadily. “Till date, there have been no cases of reward reduction, network shutdown or restart on the Cardano network”did he declare.
Despite criticism and volatility, Cardano is therefore still on the right track. Its CEO dismisses doubts and remains confident about the future of Cardano (ADA).
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