Charles Hoskinson, the founder of Cardano (ADA), has responded to critics who have been spreading fear, uncertainty, and doubt (FUD) about the blockchain. In a recent Twitter conversation addressing a YouTube video’s claims regarding Cardano’s DeFi lacking total value locked (TVL) and institutional disinterest in the protocol, Hoskinson acknowledged the presence of noise in the crypto ecosystem.
Lots of noise in crypto. Look for the signal. Cardano is getting real adoption and growing as an ecosystem under the harshest conditions our industry knows. Like Bitcoin, this is being done in a completely decentralized way. https://t.co/t5T0QgDjdW
— Charles Hoskinson (@IOHK_Charles) June 28, 2023
Cardano’s Charles Hoskisnon highlights real adoption
He emphasized the importance of focusing on positive signals and reiterated that Cardano’s ecosystem is experiencing real adoption and growth, even in challenging industry conditions.
Hoskinson drew a parallel between the developmental efforts of Cardano and Bitcoin, stating that both blockchains are driving innovations in a decentralized manner. This remark aimed to counter critics who argue that Cardano’s administration is centralized.
Additionally, a community member named Chris O shared an unverified snapshot comparing Cardano’s TVL growth with that of other blockchains, indicating Cardano’s significant lead.
These statements from Charles Hoskinson and community members highlight Cardano’s progress and growing ecosystem despite ongoing criticisms and challenges faced within the crypto space.
Cardano has a focused objective of establishing a strong presence in the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, among other areas, through a methodical and incremental approach. The primary goal is to foster a decentralized network of developers who create practical and functional products with real-world applications.
Throughout the past year, Cardano has introduced several notable products that align with this mission. These include the DJED stablecoin, the Marlowe Smart Contract protocol, the Hydra Head technology, and the dedicated Cardano Lace Wallet, among others. These endeavors reflect Cardano’s commitment to steadily build and offer meaningful contributions to the cryptocurrency ecosystem.