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▲ Charles Hoskinson, Cardano/ChatGPT generated image
Charles Hoskinson, founder of Cardano (ADA), urged a 'narrative reset,' stating that Cardano is being held back by its outdated reputation rather than its technology.
According to crypto media outlet The Crypto Basic on August 5 (local time), Hoskinson diagnosed that Cardano's biggest challenge is not technological innovation but changing market perception. He explained that although major protocol improvements and governance reforms are underway, the market has not been convinced that the ecosystem continues to evolve.
Cardano reached an all-time high of $3.1 during the 2021 bull market, becoming the third-largest cryptocurrency by market capitalization. At the time, there were even expectations that it could surpass Ethereum (ETH), but it failed to reverse the ranking. In the decentralized finance (DeFi) market, Solana (SOL) emerged as a strong competitor, shifting investor interest away from Cardano.
Hoskinson refuted the assessment that Cardano is a project that has stalled at its launch phase or is in decline. He stated, “People haven’t left. The passion hasn’t faded. Cardano needs a narrative reset.” He emphasized that the problem lies more with marketing and brand strategy than with the ecosystem itself, urging the organization to strengthen its execution and collaboration systems for the remainder of the year.
Hoskinson proposed Leios and Peras as key improvements to enhance technological competitiveness. These two scalability enhancements are designed to increase transaction throughput and reduce transaction finality time. Hoskinson stated that combining infrastructure improvements with effective market communication is essential to gain an advantage in competition with major smart contract platforms.
Hoskinson criticized the performance of EMURGO, which was responsible for the commercial growth of the Cardano ecosystem, calling it a “significant failure.” Following changes related to its wallet business, EMURGO stepped down from some leadership roles within the Pentad, Intersect, and Delegated Representative (DRep) systems. Hoskinson also proposed the idea of forming a party that shares common interests with the community to participate in governance as a delegated representative. This week, Cardano surpassed $0.195, reaching its highest level since July 4, and ranked 13th with a market capitalization of approximately $7.01 billion.
[Article Summary]
-Charles Hoskinson diagnosed that Cardano's biggest problem is not its technology but its outdated market perception.
-Leios and Peras were proposed as key improvements to enhance Cardano's competitiveness by improving transaction throughput and finality speed.
-Hoskinson criticized EMURGO's performance and urged for stronger execution, governance reform, and a narrative reset.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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