- Cardano’s founder claims legacy media is ignoring the L1 network
- Hoskinson blames Cardano for the blackout of media on its Japan origins, technical stack, and philosophy.
Cardano [ADA] In 2024, FUD (fear and uncertainty) has been a major issue. From being called “dog sh*t” You can also find out more about the following: “ghost chain,” In the current bull-run, the L1 block chain has endured a lot.
Cardano’s troubles go far beyond FUD. Recently, a study was published that questioned the validity of FUD. interviewCharles Hoskinson reiterated the fact that legacy media ignores the Cardano network for a variety of reasons. reasons.
Hoskinson mentioned Cardano’s Japan origins, and how they didn’t fit in with US Venture Capital scene. He said,
“Cardano’s headquarters are in Japan. It’s so out of the ordinary for venture capitalists, Silicon Valley professionals, or New Yorkers. It didn’t start with those early connection points that are usually from Western media. It was therefore ignored for many years because it had no connection.
The ADA stack is different.
Hoskinson also mentioned that the technology and philosophy of the Blockchain is another factor which makes legacy media to avoid the L1.
He also mentioned that Cardano was different from other technologies. Ethereum [ETH] Virtual Machines (EVMs) are virtual machines. Bitcoin [BTC];
“Our technology is radically different; it’s not an EVM clone, it’s not a Bitcoin clone.”
The founder did note that with the new tech stack, there was a steeper learning curve. This could discourage other people from joining.
The note was made by the author.
“Some people didn’t want to take the time and effort to learn the competitive differences.”
Hoskinson referred to Cardano’s anti-globalist vocal position as offensive to traditional media. He highlighted;
“Third, it’s philosophical. It was very dangerous to have something like Cardano because you could see it proving everything that you dislike. The Cardano project is teaching people to become themselves. own bank, own It’s their identity that is building a country, and it already has it own constitution.
“Globalist plans are cancerous if you let that grow.”
Hoskinson feels that legacy media’s lack of coverage is a major obstacle to competing. Especially the competition from other L1 chain that have VC backing and are perceived as being more “centralized.”
Hoskinson’s assertions are echoed in ADA’s pricing. ADA’s rally in Q4 2020 was over 130%.
The performance in Q1 of 2024 was limited. It was up only 9% as FUD increased. ADA was trading at $0.56 as of the writing of this article, more than 440% off its all-time highest of $3.1 from last cycle.
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Source: ambcrypto.com
