The Cardano founder says that providing funds to project builders on any blockchain is essentially a “bribery.”
Charles Hoskinson answered many other important questions, explaining why the Cardano project will never provide funding to cryptocurrency projects under the Cardano umbrella, and dispelling rumors surrounding the Cardano blockchain.
Cardano is a popular proof-of-stake (PoS) crypto network known for its better stability and security. Ethereum co-founder Charles Hoskinson founded the cryptocurrency blockchain after leaving the Ethereum cryptocurrency project due to a conflict of interest over the future of the Ethereum blockchain.
On April 1, 2024, Charles Hoskinson appeared in a new live video session on YouTube to answer some important questions posed by Cardano community members.
Initially, Hoskinson spoke about the need for a seamless stablecoin on the Cardano blockchain network. He said the bitter truth is that the Cardano blockchain network needs a well-known stablecoin to succeed.
On stablecoins, Hoskinson confirmed that the Cardano team has been working hard to solve this challenge for a long time and is still engaged.
On network congestion-related issues, Hoskinson acknowledged that the Cardano network sometimes faces congestion issues, but dismissed claims that network congestion issues affect users of the Cardano network.
According to Hoskinson, congestion issues only affect transaction settlement times and do not lead to increased transaction fees or failed transactions.
At the end of the live session, Hoskinson clarified the issue of top-down support. Hoskinson said the Cardano project follows the basic concepts of Bitcoin and Ethereum, which is why Cardano does not fund any team and works on all crypto projects on the Cardano network.
Moreover, Cardano’s founders perceive this behavior as akin to “bribery” because the project encourages developers to build products on its blockchain platform.
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