Hoskinson, a regular at lively debates on social media, reaffirmed with conviction that Cardano is still the gold standard in decentralization. While some members of the crypto community support this vision, others are more skeptical, particularly given the performance of the ADA.
A network always at the forefront of decentralization
Charles Hoskinson has never hidden his ambition to make Cardano a truly decentralized blockchain. Thus, “Cardano is still number one in terms of decentralization,” he said. published in a tweet this Friday, October 4, 2024. This declaration comes as the network continues to deploy its decentralized governance model with the establishment of decentralized representatives (Dreps) and the constitutional committee (CC). Such advances result directly from the “Chang” update of September 1, 2024, with the project’s entry into the Voltaire era. This event helped to anchor the community governance system even more deeply into Cardano's DNA, thereby strengthening the legitimacy of the network in its quest for complete decentralization.
Perhaps one of the most important developments in recent months is the launch of the Midnight testnet, a sidechain that introduces a new dimension in terms of data protection. Hoskinson touted this innovation as a highlight of the project. He said Midnight combines the “programmability of Ethereum” with the “privacy of Zcash.” This is a key step for Cardano, which aims to position itself as a leader in terms of governance, but also in terms of the protection of privacy and data security on the blockchain.
Shared reactions from the community
If Cardano's technical advances are welcomed by part of the community, Charles Hoskinson's comments have sparked a passionate debate. While many defenders of the project continue to firmly believe in the founder's vision, others highlight the contrast between the announced progress and the lackluster performance of the ADA. This project may be ambitious, but this is not reflected in the price of the token. The value of ADA, currently around $0.35, is far from the expected highs. Some critics go so far as to question Cardano's ability to ever regain the price of a dollar, a concern that resonates with some investors.
Opinions also differ on the sustainability of Cardano's economic model. Despite regular developments and stated ambitions, ADA's growth prospects in the crypto market remain uncertain. However, these opinions must be qualified by the undeniable technological advances and the long-term vision of the project. If the financial future of ADA seems uncertain, Cardano's notable influence on governance and privacy issues could well redefine the sector in the medium and long term.
Through the reaffirmation of Cardano's place as a leader in decentralization, Charles Hoskinson has reignited debates on the future of the project. If the community remains divided between hope and skepticism, the network's technical advances, coupled with its innovative governance, could allow it to maintain its central role in the evolution of the blockchain ecosystem. However, the question remains: will this progress be enough to restore momentum to the ADA price and convince the skeptics? Only the future will tell us.
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