Cardano [ADA] has been in the spotlight due to the Founder and CEO of the IOHK Foundation, Charles Hoskinson, talking about the faults within the network and making a comparison with the Bitcoin Foundation.
Recently, Charles Hoskinson had given his two cents on the split between the Cardano Foundation and the rest of the projects in the pipeline. His main issue was the lack of transparency in the system and even attacked the Cardano Foundation for its dictator-like rule. He even spoke about a hypothetical intervention with the Cardano Foundation by stating:
“I’d ask basic questions like, do you think it’s in the interest of the community to have the Foundation led by a king? There is no oversight or checks and balances when you have a board of two where one doesn’t do much other than file the paperwork and the other one has absolute power. Why do you feel you’re above transparency?”
Hoskinson also openly attacked the Cardano Foundation by comparing it to the Bitcoin Foundation, stating confidently that the cryptocurrency does not need a Foundation to become successful. Speaking to Crypto Insider, he went on to say:
“The reality is we’ve been working with this situation for two years it’s just it’s gotten to a point where Emurgo and IOHK have just normally given up on the existing leadership structure of the Foundation and we feel we have a duty to tell the community that we’re just going to move without them.”
On a technological aspect, Cardano was given another boost when it was revealed that the Trezor hardware wallet will support the ADA token.
Subscribe to AMBCrypto’s Newsletter