LUCKNOW (CoinChapter.com) — Cardano co-founder Charles Hoskinson has highlighted two major upgrades on the horizon for the blockchain network. Amidst a wave of skepticism, Hoskinson is doubling down on Cardano’s path forward, touting its potential for scalability, governance, and innovation.
Chang Is Coming Soon…
Hoskinson took to X (formerly Twitter) on April 7th, asserting that “we are holding all the cards as an ecosystem.” He specifically pointed to the upcoming Chang hard fork, slated for the second quarter of 2024, as a crucial milestone in Cardano’s roadmap.
The Chang hard fork will mark a significant milestone in Cardano’s Voltaire era, introducing community-driven governance to the blockchain. This upgrade will enable on-chain community consensus, allowing ADA holders to vote on proposals directly. Through this introduction of community governance, Chang is poised to propel Cardano toward full decentralization.
Hoskinson revealed that “Chang is coming soon as measured by progress on SanchoNet.” Throughout the remainder of 2024, this upgrade will bring several key developments, including the introduction of Delegate Representatives (DReps), a Cardano Constitution Convention event, and a community vote to ratify the first draft of the Cardano Constitution.
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Tackling the Blockchain Trilemma with Ouroboros Leios Upgrade
Hoskinson further emphasized the importance of the Ouroboros Leios upgrade, calling it “the biggest step forward towards solving the blockchain trilemma ever.” This new iteration of Cardano’s proof-of-stake consensus model aims to significantly boost throughput, scalability, and transaction speed, all while preserving the network’s current level of decentralization.
Addressing Criticisms Head-On
Hoskinson’s comments came as a direct response to an April 7th video from influencer Ben Armstrong, also known as ‘BitBoy.’ In the video, Armstrong contemplated whether Cardano was “dead”, comparing the blockchain unfavorably to Solana (SOL), Sui (SUI), and Toncoin (TON).
Armstrong claimed these competing networks were “blowing up” and “killing it” in terms of user numbers, activity, and price action while asserting that the metrics for Cardano were “not fantastic.”
Hoskinson clearly felt compelled to address these criticisms head-on, using his X (Twitter) post to counter Armstrong’s assessment.
The problem with our industry is that we let short-term narratives and carnival barkers dominate the conversation. AI has the same issue.
Hoskinson said.
Echoing Hoskinson’s sentiments, Crypto Capital Venture founder and Cardano advocate Dan Gambardello suggested that much of the criticism stems from the ADA token’s lackluster price performance. He acknowledged that the lack of a return to $1 or higher is fueling some of the negativity.
“Even Cardano people who say they don’t care about price, care about price. If price was up, you wouldn’t see these comments.”
However, the Cardano token (ADA) has struggled in 2024, currently trading at $0.5851. The current price is down 7.03% over the past week and 81% from its all-time high in September 2021.
