Is Cardano (ADA) Dying? Founder Charles Hoskinson Responds to Allegations

Cardano (ADA) founder Charles Hoskinson recently commented on the increasing negative sentiment regarding his project on social media.

Hoskinson Claims Cardano's Situation Will Improve After Voltaire

In his statement, Hoskinson explained that this shift in sentiment does not reflect any failure of the project, but is instead a result of Cardano’s evolving governance system known as Voltaire.

“You may have all noticed that Twitter sentiment around Cardano has been more negative lately. This change is not a reflection of our project somehow failing, but rather Voltaire’s desired outcome,” he said.

Hoskinson explained that years of unresolved issues have accumulated, including roadmap items, unfunded growth strategies, and partnerships, because ADA’s governance has not scaled to meet the demands of the ecosystem.

But with Voltaire on board, he believes the new management system is equipped to meet these needs and will pave the way for significant growth and development.

Hoskinson expressed his own frustrations with issues that were not addressed in the past, particularly when working on Cardano Native Asset (CNA) projects like Midnight. “I am very aware of what needs to be done for CNAs, from custody to liquidity. I will do my part, but I am happy that we have real governance by and for ADA users,” he added, adding that the ecosystem now has a solid governance model that can handle new initiatives.

He also noted the transparency of Cardano’s approach compared to other crypto projects, which he claimed relied on behind-the-scenes dealings. “The difference between Cardano and the rest of the crypto space is that we are all doing this together and openly,” he said.

According to Hoskinson, this commitment to honesty and transparency has made Cardano a target of criticism from other projects.

Defending Cardano’s long-term strategy, Hoskinson said the project prioritizes sustainable growth and progress over short-term gains and market manipulation. Denying any affiliation with traditional financial institutions like BlackRock or Wall Street, Hoskinson said, “Cardano is not dying. It is evolving and growing. It is also one of the last cryptocurrencies that still wants to be a real cryptocurrency, not patronized by BlackRock and Wall Street.”

*This is not investment advice.