Charles Hoskinson, the founder of Cardano (ADA), addressed the crypto community from London on a European tour that included Italy and Switzerland on Sunday. In a video update, Hoskinson dispelled rumors about his commitment to ADA while offering insights into other blockchain projects, most notably Sui.
Hoskinson clarifies his position on Sui
Hoskinson started by recognizing the polarized nature of the crypto ecosystem. “People are so radicalized and polarized that they expect the founder of Cardano to always say only negative things about the things people do,” he said. “If I say something positive, I immediately have the impression that I am abandoning Cardano or somehow disloyal to the project.”
He emphasized that such tribalism is counterproductive. “That tribalism is intrinsically self-destructive,” Hoskinson said. “It prevents us from learning and growing together as an ecosystem.”
Hoskinson’s comments about Sui, a high-throughput blockchain project, led to speculation about his allegiance to ADA. When he brought this up, he noted that he was objectively interested in Sui’s technologyspecifically the consensus protocol developed by George Danezis, a researcher who has known Hoskinson for almost a decade.
“I looked at the project with an objective eye,” Hoskinson explained. “Some of the technology comes from George Danezis (…) He wrote an article called Narwhal and Tusk, one of the fastest BFT protocols ever devised: incredibly high throughput, six-figure TPS, low latency.”
He clarified his position regarding Sui: “I don’t comment on the distribution, the tokenomics, how they launched – all that stuff – I haven’t looked at those things, and I don’t care about them. I don’t have (Sui tokens) and I’m not involved in the project in any way.”
Cardano remains number one
Hoskinson also took the opportunity to reaffirm his commitment to ADA and highlight its progress. “Cardano is about compositionality and momentum,” he said. “When we make design decisions as an ecosystem, we build on those decisions for years to decades to come.”
He addressed criticism that Cardano’s technology is outdated: “The irony about it is that Ethereum is desperately trying to be Cardano. They are trying to figure out how to do chain management; they try to have liquid, non-custodial strikes; they’re trying to figure out how to leverage UTXO.
Hoskinson also described ongoing developments within the ecosystem, including the Ouroboros Leios Protocol that “will be the fastest single-shard protocol,” according to Hoskinson, who added: “The CIP has been written; we are almost done prototyping it.”
Furthermore, the ADA founder praised the progress in governance and decentralization: “We just brought in the biggest one decentralized government across the industry (…) There are over 500 people who have signed up to be DReps.”
He emphasized that ADA’s approach is aimed at long-term success. “Cardano chose that path because it is a true cryptocurrency, and its ambition is to be the dominant platform for the world’s economic, political and social systems,” Hoskinson asserted, claiming: “We have the best networking stack, the best consensus architecture, the best programming model.”
Hoskinson directly addressed the speculation about Cardano leaving, saying: “I will from time to time commend good science and good engineering efforts and interesting protocols that I come across, but that does not in any sense of the word mean that I am no longer on the Cardano train.”
He confidently projected the future of Cardano: “Let me be very clear here: Cardano will, I believe, become the largest cryptocurrency ecosystem in the world. It will take some time, and it will come about through the collective efforts of millions, if not tens of millions, of people working diligently on their own projects in their own interests over the coming years and decades.”
He concluded with a message of dedication and optimism: “I am here to stay. I love every part of this. Cardano is here to change the economic, political and social systems of the world, and it was built hand in hand for that express reason.”
At the time of writing, ADA was trading at $0.36.
Featured image from YouTube, chart from TradingView.com