Charles Hoskinson, founder of Cardano (ADA), cryptocurrency He denied accusations of centralization surrounding his unit’s management structure.
Cardano (ADA) Founder Denies Centralization Accusations
The accusations were made by Vanessa Harris, who describes herself as a “Web3 consultant” on Twitter, and claimed that IOG, the company behind the development of Cardano, would never lose control of the network under the current setup.
Let me not put too fine a point on it:
CIP-1694 is setup such that IOG et al will never lose control over Cardano outside of extreme circumstances.
This is just a veneer of decentralized governance.
— Vanessa Harris (@technologypoet) March 4, 2023
In particular, Harris cited the Cardano Improvement Proposal, CIP-1694, as proof that IOG and other organizations will retain control over the network except in the most extreme conditions.
Hoskinson, however, dismissed these claims as categorically false, accusing Harris of spreading fear, uncertainty and suspicion (FUD).
During a Twitter Spaces conversation, Hoskinson acknowledged that management is a complex issue.
In the discussion thread, he expressed concern about the power of the constitutional committee, which he effectively claims belongs to the IOG, and the fact that regular ADA users cannot participate in governance without a delegate representative (DRep).
It was the reaction of the cryptocurrency community to Harris’ Twitter thread about Cardano’s proposed management actions for CIP-1694 and Voltaire.
Some users were supportive, while others were skeptical or condescending. Some users supported Hoskinson, accusing Harris of spreading FUD and making false statements. Because Harris’ claims put the ADA in a central category.
Before cryptocurrency Hoskinson, who announced his intention to buy CoinDesk, one of the largest media organizations in the world, did not provide more information about this latest agreement.
CoinDesk is part of the Digital Currency Group, a struggling crypto company.
*Not investment advice.
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