Cardano founder says giving funding to project builders on any blockchain is basically “bribing”

24

Charles Hoskinson explained why the Cardano project never gives funding help to the crypto projects under the Cardano umbrella and also replied to many other big questions to dismiss fud around the Cardano blockchain. 

Cardano is a popular Proof-of-Stake (PoS) crypto network which is mainly known for its better stability & security. Ethereum co-founder Charles Hoskinson founded this crypto blockchain, following his departure from the Ethereum crypto project because of a conflict of interest on the future of the Ethereum blockchain. 

On 1 April 2024, Charles Hoskinson appeared in a new live video session on YouTube to respond to some important questions raised by the Cardano community members. 

In the beginning, Hoskinson talked about the need for a perfect stablecoin on the Cardano blockchain network. He said that it is a bitter truth that the Cardano blockchain network needs a well-recognised stablecoin to succeed. 

On stablecoin, Hoskinson confirmed that the Cardano team has been working huge on this challenge for a long time & also currently engaged.

On the question of network congestion-related issues, Hoskinson admitted that the Cardano network faces congestion issues sometimes but dismissed the claims that network congestion issues affect the Cardano network users. 

According to Hoskinson congestion issue only impacts the transaction settlement time but never leads to an increment in transaction fees or failure of transactions. 

At the end of his live session, Hoskinson clarified the issue of top-down support. Hoskinson said that the Cardano project follows the basic concept of Bitcoin & Ethereum and this is the reason why Cardano never funds any team, works on any crypto project on the Cardano network. 

Furthermore, Cardano’s founder perceives this action as akin to “bribing,” as the project incentivizes developers to construct their products on the blockchain platform.

Read also: Binance joins Ukrainian forces to help kids affected by the Russia vs Ukraine conflict