Hoskinson Denies Centralization Accusations
Charles Hoskinson, the founder of Cardano (ADA), has denied accusations of centralization surrounding the cryptocurrency’s governance structure. 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.
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 his concerns about the power of the constitutional committee, which he claims effectively belongs to the IOG, and the fact that regular ADA users cannot participate in governance without a delegate representative (DRep).
The reaction of the cryptocurrency community to Harris’ Twitter thread was 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. Hoskinson, who previously announced his intention to buy CoinDesk, one of the largest media outlets in the crypto money world, did not provide more information about this latest deal. CoinDesk is part of the Digital Currency Group, a struggling crypto company.
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