Cardano (ADA): The CEO responds to critics

The Cardano (ADA) situation stirs debate as its price falters. Concerns extend to the principles of its network, prompting its CEO to give candid answers.

No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaims we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay https://t.co/tMbyfNf9PY pic.twitter.com/2c9O0wQtZi

— Charles Hoskinson (@IOHK_Charles) August 14, 2023

Current challenges for Cardano (ADA)

Cardano (ADA), the ninth largest crypto by total market value, is currently going through a sideways phase. Over the past 7 days, ADA’s share price has fallen by 1.7%, while the other 10 major cryptocurrencies have managed to remain relatively stable.

As a result, Cardano (ADA) has found itself at the heart of growing criticism. The latter are even targeting the operating principles and promises of the Cardano network.

Cardano CEO Charles Hoskinson therefore decided to respond to the critics. “Venture capital tokens owned and invested by venture capitalists are different from ADA,” he explained. Cardano’s CEO even responded directly to those who claim that Cardano (ADA) is ephemeral. “Cardano is here to stay,” he maintains.

According to Hoskinson, one of the main reasons for criticizing the Cardano network is its scalability and efficiency. In addition, the fact that the network is encrypted with Haskell has led to a severe shortage of developers.

Steady progress for a solid future

According to Cardano’s CEO, ADA has had a significant impact on the crypto market, with a 3000% increase during the 2021 bull run. Since then, however, and despite numerous technical advances, the price of ADA has continued to fall. This shows that technical advances are negligible before a bull market, suggesting a rising trend process for ADA.

An assertion supported by a famous crypto user on Twitter. According to Stake with Pride, Cardano is making slow but steady progress. “To date, there have been no instances of reward reductions, network shutdowns or reboots on the Cardano network,” he said.

So, despite the criticism and volatility, Cardano is still on track. Its CEO dismisses any doubts and remains confident about the future of Cardano (ADA).