Charles Hoskinson faces Twitter backlash as his Cardano predictions do not match reality – Bitcoin News

Charles Hoskinson, the founder of Cardano, was recently the target of Twitter critics because years of tweets highlighting predictions for the network’s rollout didn’t live up to the community’s expectations.

Slower rollouts and sluggish acceptance in the focus of critics

Cardano, the fifth largest cryptocurrency by market cap and self-titled third generation blockchain initiative, has no shortage of followers and evangelists who believe in their very scientific approach to developing blockchain technology. But the network is also not lacking in critics and the Internet never forgets.

It’s been almost a year since Cardano inventor Charles Hoskinson posted his predictions for the network on Twitter, envisioning a more widespread Dapp deployment (decentralized app) and hundreds of assets on the blockchain.

This time next year, I predict, there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects, and many unique uses and uses. 2021 will be so much fun watching Cardano grow and develop. The community is definitely ready for innovation

– Charles Hoskinson (@IOHK_Charles) July 26, 2020

Most of these predictions have not come true.

The Twitter community has quickly pounced on this reality, with a handle highlighting that no assets or dapps are running on the network.

OK so @IOHK_Charles predicted this a year ago.
To update:
No asset at $ ADA, forget thousands of DApps, not a single Dapp aufpp $ ADA, announced only 1-2 projects to work on $ ADA@IOHK_Charles What happened to your predictions? What is the forecast for the next 1 year now? https://t.co/qreMVlOX1i

– Undervalued cryptos (@altcoin_bets) 4th July 2021

Instead, several projects have announced plans for the final launch. Since the smart contract functionality of the network is still being tested and is supposed to start after the Alonzo upgrade is completed in August, the criticism of Dapps is in some ways justified.

Another poster quickly highlighted Cardano’s lower transaction volume compared to other networks like Bitcoin and Ethereum, despite its sky-high valuation in the tens of billions. In another excavation at Hoskinson, he compared the members of the Cardano community who responded to his tweets as reminders of the community responses IOTA defended in 2017, and referred to these respondents as ADA bots.

Interacting with ADAbots in 2021 is like interacting with the IOTA “community” in 2017

https://t.co/pH9jjbmiEB

– Evan Van Ness (@evan_van_ness) June 30, 2021

John Rice, editor-in-chief of Cointelegraph, sarcastically hinted at the busy weeks ahead when the blockchain will actually deliver on the network builder’s ambitious predictions.

3 weeks will be exhausting. https://t.co/pEzBAEIfZ8

– Jon Reis (@JonRiceCrypto) July 6, 2021

ADA critic and community battle

Although some of the Twitterati jumped on Hoskinson’s predictions to prove that the network was not achieving its stated goals, others were quick to point out the obvious: the original tweet from the Cardano founder himself was labeled a “prediction”.

I mean, you said it in your tweet, it’s a prediction, not a promise. Nothing “happened” with his prediction, Cardano delivers or not.

– Javier Wang (@JavierWang_Defi) 4th July 2021

Community members and Hoskinson responded to the criticism flash and highlighted the network’s success in certain areas. But more important than the Twitter battle is the actual reality of the blockchain itself.

There are thousands of assets on Cardano. I think you weren’t paying attention. Tons of developers learn, train, write. Lots of startup apps.

– Charles Hoskinson (@IOHK_Charles) 4th July 2021

Yes, most of the dApps are hosted on Ethereum and yes, it is responsible for immense amounts of token creation. However, the speed to market of the network did not necessarily result in a bulletproof platform. Additionally, there are no serious plans in the pipeline to handle the governance component while Cardano has incorporated that element into its approach.

Additionally, each phase of Cardano’s development is peer-reviewed, which is similar to similar methodology used in the academic world. This academically-like approach means that all new features are rigorously tested and validated before they are officially launched, which helps Cardano address the drawbacks of early blockchains from the start.

Another key point of reference is that Cardano has adopted the proof-of-stake since its inception in order to minimize its power consumption compared to Ethereum. While Cardano barely scratches 20,000 transactions per day, one of the reasons for this reality is that over 70% of the network’s native ADA tokens in circulation are staked. For comparison: a little more than 5% of all ethers in circulation are staked out.

Contrasting viewpoints are a great source of debate and possible innovation. This conversation turns out to be no different, especially as Cardano is getting closer and closer to attaining the potential reality outlined by Hoskinson. While its timing may be wrong, with more time its prediction can still be forward-looking. Only time – and the market – will tell.

Do you think the criticism of Charles Hoskinson and Cardano is justified? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons, CryptoGazette

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