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The recent development of the Chang hard fork in September positioned the Cardano (ADA) blockchain as a top player in the crypto ecosystem, according to its founder, Charles Hoskinson.
Hoskinson, who is also known for his role in founding Ethereum (ETH), has been consistent. they are praised Cardano’s progress over the past month follows a recent development, asserting its superiority over the largest cryptocurrencies in the market such as Bitcoin (BTC) in terms of allocation.
Hoskinson Declares Cardano Remains Top Dog
The latest posted On social networking site X (formerly Twitter), Hoskinson confirmed Cardano’s status, saying he is “still number 1.” This statement follows his remarks at the Token2049 Conference in Singapore, where he discussed the new governance model of the Cardano network.
Hoskinson emphasized that this model “redistributes power” from a select few to the wider community, addressing the main concern he sees with Ethereum’s “centralized structure”.
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Hoskinson pointed out that Ethereum’s reliance on its founder, Vitalik Buterin, creates a “bottleneck for innovation,” and Cardano’s Chang hardfork has created a framework that ensures continued development without individual involvement.
Hoskinson also highlighted how delegate representatives (DReps) can now interact with each other, vote, and use a blockchain-based governance system to ensure regularity network road. He said emphatically, “Charles, alive or dead, it doesn’t matter. There will be new things every day.”
In addition, the Cardano blockchain has shown significant growth in key metrics, boasting more than 74,000 Plutus documents and the creation of 1.3 million sent wallets in the past seven years.
Additionally, about 1,373 projects were presented on the platform, as highlighted in the memo. video is Input Output Global (IOG), the development company behind the blockchain.
The Last Revolution in Decentralized Governance?
In his latest social media update, Hoskinson also commented on Cardano’s progress in decentralized governance, suggesting that the network is on the verge of achieving a milestone with upcoming features.
Looking ahead, Cardano intends to replace its original genesis keys, which have been instrumental in controlling the network since its inception. This change will be supported by increased participation from participants (SPOs) and DReps, and the establishment of a Constitutional Committee (CC).
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The next steps to achieving a fully decentralized governance model include ensuring that stake pool nodes meet performance parameters and that decentralized applications (DApps) are completed.
The final revolution in the Voltaire era, featuring a fully self-supporting blockchain, will occur with the final use of the Genesis keys, triggering another one. hard fork. However, other announcements and dates for this development have not been released by the IOG or the blockchain developer.
At the time of writing, Cardano’s native token The ADA is trading at $0.352, recording a 2% price increase in the last 24 hours.
Featured image from DALL-E, chart from TradingView.com