The Cardano (ADA) network has had to deal with criticism from crypto in the past community. This criticism was often based on the fact that there was little activity and applications to be found on the blockchain. It is also often claimed that the development process is too slow, which leads to a lag compared to the competition. Charles Hoskinson, the founder of Cardano, has now taken to Twitter to respond to the umpteenth hate on the layer-1 blockchain.
Criticism of Cardano
A Twitter user going by the name “PrrplFrog,” who has more than 10,000 followers, criticized Cardano, saying that the network gets away with it every year without actually showing anything. In his tweet, he therefore asks with the only cynicism whether the project is “still in the research phase”.
Cardano is best known for its slower, scientific approach to development. Through scientific articles and a lot of research, Cardano follows the careful path of innovation. While for some this is a reason to praise the project, it also causes criticism from others within the crypto community.
Hoskinson responded to the tweet by saying that he finds such comments about Cardano bizarre and wonders what this person and other Cardano critics mean by “showing something”.
It’s bizarre that I see a lot of these comments on Twitter. I wonder what the definition of anything to show for means to this guy and the others. Honestly curious https://t.co/mpPaymepNN
— Charles Hoskinson (@IOHK_Charles) June 2, 2023
Cardano network developments
In the meantime, the network seems to be slowly but surely gaining a foothold in the world of decentralized finance (DeFi). For example, you could recently read in the Cardano news that the Total Value Locked (TVL) had reached the 400 million ADA milestone. At the time of writing, the counter is even at 479.16 million ADA according to data from DeFiLlama. At the current Cardano price, this means that no less than $ 181.36 million is tied up in the network.
Input Output Global, the company behind Cardano, also released a few days ago know that the number of transactions on the network increased by 1.8 million in the past month to a total of 67.2 million. In addition, the network currently has a total of 127 decentralized applications (dApps) and 8.33 million native tokens.