Cardano Founder Fires Back at ‘Dead Coin’ Claims

Key Takeaways:

  • Armstrong calls ADA and DOT "dead" due to lacking institutional backing.
  • Hoskinson argues crypto's purpose is to replace, not rely on, institutions.
  • Cardano community defends ADA, emphasizing its focus on users over VCs.
Cardano dead Hoskinson
Cardano Founder Fires Back at ‘Dead Coin’ Claims

LUCKNOW (CoinChapter.com) — Cardano (ADA) founder Charles Hoskinson vehemently defended his cryptocurrency project against claims of it being a “dead.”

The controversy began when crypto influencer Ben Armstrong, aka BitBoy Crypto, took to X and labeled both Cardano and Polkadot (DOT) as “dead to institutions.” 

Armstrong Declares ADA and DOT “Dead to Institutions

On July 3, Armstrong doubled down on his earlier assertions, originally expressed in an April YouTube video, about Cardano and Polkadot. The crypto influencer argued that both projects lack the institutional backing enjoyed by competitors like Ethereum (ETH) and Solana (SOL).

Bitboy Crypto suggested that while ADA and DOT might still offer returns, they wouldn’t be as significant as those from institutionally favored tokens.

Cardano ADA Charles Hoskinson
Cardano Founder Fires Back at ‘Dead Coin’ Claims. Source: X

His comments stem from a belief that the crypto industry is growing, with investors increasingly drawn to newer projects where they feel they can get in early and reap greater rewards.

Hoskinson Says “Cardano Is Here To Stay”

Charles Hoskinson wasted no time in responding to Armstrong’s provocative statements. The Cardano founder questioned the logic behind prioritizing institutional approval, reminding the community of cryptocurrency’s original purpose.

Hoskinson pointed out the irony of the crypto space seeking validation from the very institutions it initially sought to disrupt.

Cardano Hoskinson ADA
Hoskinson pointed out the irony of Armstrong’s statement. Source: X

He also emphasized that Cardano is on the brink of technological advancements, including a major hard fork. The Cardano founder also mentioned numerous developments in decentralized applications (dApps), layer-2 scaling solutions like Hydra, and partner chains such as Midnight and Prism​

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The exchange between Armstrong and Hoskinson has split the crypto community. Cardano supporters rallied behind Hoskinson, praising the project’s commitment to its original vision and technological advancements.

One user commented, “Hinging the success of a decentralized chain on centralized entities is hustling backward.” 

Critics, however, side with Armstrong’s assessment. They point to Cardano’s perceived underperformance in the market and lack of growth as indicators of its waning relevance.

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