May 29, 2024

Charles Hoskinson spoke about the future updates of Cardano.

Cardano-min
Cardano-min

Co-founder of the Cardano blockchain Charles Hoskinson revealed two major updates, one of which is expected in 2024.

“We hold all the cards as an ecosystem. We have the best path to scalability, governance, and innovations. We also have the best community,” he stated.

According to him, the Chang hard fork is scheduled for the second quarter, which will be the largest upgrade since the launch of Vasil in September 2022.

Chang will introduce the concept of community management and interaction, providing consensus and allowing ADA holders to use tokens for voting. The update involves the introduction of “Delegate Representatives” and the “Cardano Constitution” system.

The second important step for the network is the implementation of Ouroboros Leios – a new version of the Proof-of-Stake consensus mechanism, designed to increase throughput, scalability, and transaction speed while maintaining the current level of decentralization.

Hoskinson’s statement came in response to a video from blogger Ben Armstrong, known as BitBoy, who declared the “death” of Cardano. He compared the ecosystem to Solana, Sui, and Toncoin, which “succeeded” and “killed” it in terms of user base, activity, and price dynamics.

“The problem in our industry is that we let short-term narratives and carnival barkers dominate the conversation. AI has the same problem,” noted the co-founder of Cardano.

Earlier, Hoskinson and former BitMEX CEO Arthur Hayes argued about the usefulness of the network. The latter called the ADA token “dog shit.”

It is worth noting that in October 2023, the head of Cardano accused Ethereum of plagiarizing the Ouroboros consensus protocol.

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