Cardano (ADA) founder Charles Hoskinson has recently come under fire for suggesting contingent staking as a solution to help the cryptocurrency industry meet regulatory requirements. Some critics have also referred to the Cardano community as a cult, which Hoskinson has vehemently denied.
In a tweet posted on February 21, Hoskinson addressed the attacks on his views and the Cardano community as a whole. He emphasized that contingent staking was only an “optional hypothetical feature that isn’t even at the Cardano Improvement Proposal (CIP) stage.”
Hoskinson also responded to a comment by pseudonymous retail investor Barren Wuffett, who called him a “liability” and suggested that the person behind the ADA whale Twitter profile should represent the Cardano community instead. In response, the ADA whale stated that they could “live with” contingent staking if it was approved through Voltaire.
This is not the first time that Hoskinson has faced allegations that Cardano is a cult. In June 2021, Galaxy Digital CEO Mike Novogratz expressed surprise at Cardano’s valuation and stated that “they have done something to create this weird cult.”
Despite the criticism, Hoskinson remains steadfast in his beliefs and commitment to advancing Cardano. As the cryptocurrency industry faces heightened scrutiny and regulatory pressure, it is essential for stakeholders to work together and find solutions that benefit the industry as a whole.
