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Crypto: Cardano faces criticism despite strong fundamentals

Sun 09 Jun 2024 ▪ 3 min of reading ▪ by Luc Jose A.
Getting informed Blockchain

In the world of cryptos, when we talk about blockchain, we immediately think of Bitcoin or Ethereum. But other blockchains also have great potential. Cardano, founded by Charles Hoskinson, is one of those gems. Convinced that this blockchain is undervalued, Hoskinson promises great things for its future.

Crypto : La blockchain Cardano

Cardano: an undervalued blockchain in the crypto universe

The Cardano blockchain has often been the target of complaints and unfavorable criticism. Recently, its native crypto, ADA, was labeled a zombie crypto by Forbes, a category of cryptocurrencies with high market caps but limited real-world utility. This negative perception contrasts sharply with Charles Hoskinson’s opinion, who believes that the project is largely undervalued.

He expressed his frustration with the lack of positive recognition for Cardano in the media. Charles Hoskinson argues that Cardano is built on solid fundamentals, including a rigorous approach to research and development. Despite the criticisms, he remains convinced that Cardano’s true value is far higher than its current market valuation.

Cardano: Towards growth with Hydra and Chang Hard Fork

Charles Hoskinson is convinced that Cardano’s strengths and upcoming projects are key elements that will drive the ecosystem’s growth. One of the main projects is the Chang Hard Fork, a major upgrade aimed at improving governance and community involvement. This update aims to strengthen decentralization and give more decision-making power to network users.

Among other promising developments is the Hydra scalability solution, designed to significantly increase the network’s transaction capacity. In parallel, Cardano has formed strategic partnerships with entities such as Midnight and Prism, which are expected to bring additional innovations and enhance Cardano’s adoption. Hoskinson also highlights that the rapid growth of decentralized applications (dApps) on Cardano demonstrates the ecosystem’s robustness and long-term viability.

Despite the criticisms and negative perceptions, Charles Hoskinson remains optimistic about Cardano’s future. With its innovative projects and solid technological foundation, Hoskinson believes that Cardano is well-positioned to establish itself in the crypto world. The crypto community should closely monitor upcoming developments related to this blockchain.

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Luc Jose A. avatar
Luc Jose A.

Graduated from Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations, and put the economic and societal issues of this ongoing revolution into perspective.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.