Charles Hoskinson Declares Cardano (ADA) the Leading Blockchain With a Significant Edge in Decentralized Governance

This comes after CNF reported that Hoskinson is preparing to unveil a new roadmap at the Cardano Summit in Buenos Aires, Argentina.

Cardano (ADA) Co-Founder Charles Hoskinson has asserted that Cardano remains the leading blockchain in the ecosystem, boasting a significant edge in decentralized governance. This statement follows a recent report by Crypto News Flash that Hoskinson is set to unveil a new roadmap at the upcoming Cardano Summit in Argentina. According to Hoskinson, these "amazing items" on the yet-to-be-released roadmap will set Cardano apart from other blockchains by a wide margin.

Cardano Co-Founder Highlights Its Leading Position in Decentralized Governance

As part of its transition to a fully decentralized structure, an Interim Constitutional Committee will now oversee Cardano's governance. The second phase of this transition is expected to involve the empowerment of new governance bodies, as stated by Giorgio Zinetti, CTO of the Cardano Foundation.

In an interview with Be[In]Crypto, Zinetti elaborated on Hoskinson’s statement, highlighting Cardano's standing as the largest layer-1 blockchain with on-chain governance. He mentioned smaller players like Tezos and Polkadot that have already implemented on-chain governance. However, if there was a leaderboard for real decentralized layer-1s, Cardano would be at the top.

Hoskinson's Previous Criticism of Ethereum's Governance Model

Prior to this latest remark, Hoskinson had described Ethereum as a "dictatorship blockchain" that heavily relies on its co-founder, Vitalik Buterin, for direction. According to an earlier report by Be[In]Crypto, Hoskinson argued that the Ethereum project would be "vague" if Buterin's guidance was removed from the equation.

"Everybody looks to him for the roadmap. Everybody looks to him for inspiration, and he’s also the only person who has enough power to rally people. If you were to remove him from the equation right now, what’s the next hard fork going to look like, and how quickly can they actually get there?"

Hoskinson further explained that the new Cardano model emphasizes efficiency, effectiveness, and integrity. He mentioned that delegated representatives and an organization called "Intersect" played key roles in this process. The aim was to avoid the "dictatorship of Ethereum" and the "anarchy of Bitcoin."

"If you have those three things, then you have a fair shot of avoiding the anarchy of Bitcoin or the dictatorship of Ethereum, and you actually have something that can move forward with one voice, but it’s still decentralized at the end of the day because it represents everybody."

Earlier in Q1, Hoskinson also predicted that Bitcoin would fail and criticized its community for "worshipping" MicroStrategy's Michael Saylor, who "only borrowed money to buy BTC."

ADA Price Analysis

Despite these technological developments and the journey towards complete decentralization, ADA's price performance has been underwhelming, with a 10% decrease over the past seven days. At the time of writing, ADA was trading at $0.35, with a daily trading volume down by 27%.

An analyst known as Alan Santana believes that ADA's correction is far from over, stating that the token failed to retest a crucial resistance at its MA200 trend line in the previous rally. In this scenario, the next pullback could drag ADA to around $0.2367 before any recovery.

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