Charles Hoskinson Outlines Future Cardano Updates Amid Criticism

Cardano blockchain co-founder Charles Hoskinson has unveiled two major updates, one of which is slated for 2024.

Seeing all the dunking on Cardano makes me smile a bit. We are holding all the cards as an ecosystem. We have the best path for scalability, governance, and innovation. We also have the best community.

Chang is coming soon as measured by progress on SanchoNet. Ouroboros Leios is… pic.twitter.com/11RTXaDrZU

— Charles Hoskinson (@IOHK_Charles) April 7, 2024

“We are holding all the cards as an ecosystem. We have the best path for scalability, governance, and innovation. We also have the best community,” he stated.

According to him, the Chang hard fork is scheduled for the second quarter, marking the largest upgrade since the Vasil launch in September 2022.

Chang will introduce governance and community interaction concepts, ensuring consensus and allowing ADA holders to use tokens for voting. The update includes the introduction of “Delegate Representatives” and the “Cardano Constitution.”

The second significant step for the network is the implementation of Ouroboros Leios—a new version of the Proof-of-Stake consensus mechanism aimed at increasing throughput, scalability, and transaction speed while maintaining the current level of decentralization.

Hoskinson’s statement came in response to a video by blogger Ben Armstrong, known as BitBoy, who declared Cardano “dead.” He compared the ecosystem to Solana, Sui, and Toncoin, which have “exploded” and “killed” it in terms of users, activity, and price dynamics.

“The problem with our industry is that we allow short-term narratives and carnival barkers to dominate the conversation. AI has the same problem,” noted the Cardano co-founder.

Previously, Hoskinson and former BitMEX CEO Arthur Hayes clashed over the network’s value. The latter called the ADA token “dogshit.”

Back in October 2023, the head of Cardano accused Ethereum of plagiarizing the Ouroboros consensus protocol.