Cardano, the blockchain network, is set to undergo two major upgrades this year, according to Charles Hoskinson, co-founder of the project. Despite recent criticism of its native token and ecosystem, Hoskinson remains optimistic about Cardano’s future. In a response to skeptics, he stated that Cardano has the best scalability, governance, and innovation path, as well as a strong community. One of the upcoming upgrades is the Chang hard fork, scheduled for the second quarter of this year. This hard fork will introduce community-run governance, allowing ADA token holders to vote on proposals and promoting decentralization. Additionally, the transition will involve the introduction of Delegate Representatives, a Cardano Constitution Convention event, and a community vote to ratify the first draft of the Cardano Constitution. Hoskinson also highlighted the significance of Ouroboros Leios, a new version of the proof-of-stake consensus model that aims to enhance throughput, scalability, and transaction speed while maintaining decentralization. Hoskinson’s comments were in response to a video by Ben Armstrong, who questioned the future of Cardano. Despite comparisons to other blockchain projects that have seen more success in terms of users, activity, and price action, Hoskinson believes that the negativity surrounding Cardano is driven by short-term narratives and emotional bias. The price of ADA has been relatively lackluster this year, currently trading at $0.584, down 81% from its all-time high in September 2021. Despite this, supporters of Cardano remain confident in its long-term potential.
Cardano 'dunking' prompts Charles Hoskinson to highlight 2 significant upgrades