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Cardano

Cardano Founder Refutes Claims Of Project’s Ads Lagging Behind Solana

Godspower Owie
by Godspower Owie
1 year ago
·
Posted in Cardano
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Charles Hoskinson, the founder of Cardano, has fired back at recent criticism from community members regarding the project’s advertisement not being good enough in comparison to  Solana.

Cardano Can Not Advertise Like Solana

The famous crypto founder shared his insights on the claims on the social media platform X (formerly Twitter). Hoskinson’s X post came in response to an ADA enthusiast, Bradford Rich’s post criticizing the Cardano team and founder for not running ads like Solana to increase the network’s adoption.

Related Reading: Cardano Founder Fires Back At Crypto Report Asking Investors To Dump ADA

In the X post, Rich dished out a screenshot of a recent Solana advertisement garnering attention from the crypto community. The purpose of the commercial, which describes Solana’s rising traction over time, was to draw additional developers to utilize the proof-of-scale network for their apps.

The enthusiast then questioned if the Cardano network’s team also ran commercials similar to the aforementioned Solana ads. In addition, he tagged the network’s founder and several members of the project’s team.

Hoskinson responded, noting that the idea is all sorts of “wrong” when running an ecosystem. He made the point that the project takes a different path from the one that Bradford Rich has recommended.

He highlighted that “This mindset is an example of all that is wrong with how to run an ecosystem. Cardano has a Treasury and has community governance,” he stated.

Consequently, the model underscored by the founder requires five important steps. These include forming a working group, interacting with relevant parties, figuring out costs and specifications, having a community to approve the plan, and carrying it out.

Cardano may not run advertisements as Solana does; however, the network has managed to draw in the interests of leading cryptocurrency projects. This suggests a solid stand for the network in the crypto space despite the criticism from members.

The Network’s Decentralized Model

Following the development, another pseudonymous ADA enthusiast known as Alf-Vault also expressed his displeasure with the Cardano team. Vault criticized the team for engaging in “hide and seek” when requested to invest $10 million to bring Circle’s stablecoin (USDC) to the network.

Related Reading: Cardano Founder Calls Out Omission From Biggest Crypto Report Of The Year

In response, Hoskinson made a comparison between Cardano’s decentralized model and the strategy used by an anonymous individual, stating that the individual invested $10 million to develop a project fully in 2021 while managing all the work.

According to him, decentralized protocols need effective participation from the community members. He further underlined that “Circle and USDC” are examples of the particular theory. 

Hoskinson closed out by stressing that the concept is the point of decentralization. “It’s the same for marketing, partnerships, growth hacking, roadmap, and other concerns. That’s the point of decentralization,” he stated.

Cardano
ADA trading at $0.4835 on the 1D chart | Source: ADAUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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