Statements from the Founder of Cardano (ADA): “Don’t Believe the Rumors That Cardano Is Dead” — Also Mentioned XRP

Cardano (ADA) founder Charles Hoskinson made statements regarding Cardano’s partner chain model and the importance of the Midnight project to the ecosystem.

Hoskinson stated that the modular structure allows new technologies to be integrated into the ecosystem without unnecessarily burdening Cardano’s core protocol.

According to Hoskinson, Midnight possesses advanced technology that, if directly integrated into Cardano’s base layer, could make the protocol more complex, costly, and risky. Therefore, the partner chain model allows for the development of different use cases through separate modules while maintaining Cardano’s security.

Hoskinson stated, “Thanks to modularity, we can integrate the most advanced solutions into Cardano without having to change anything. Midnight is a technological giant. The technology in Midnight is more sophisticated and riskier than in Cardano. If we tried to bring that down to the basic level of Cardano, it would create a very bloated protocol. It would also be expensive to maintain, and if a mistake were made, the entire Cardano system could collapse. With modularity, if one module fails, it doesn’t kill Cardano. This increases confidence in the underlying system.”

Hoskinson, also touching upon Cardano’s position in the market, said that perceptions and leading projects in the cryptocurrency sector can change very quickly. Recalling that ADA rose from $0.025 to $3 in the past, Hoskinson argued that Cardano still has a strong ecosystem. Hoskinson stated, “Cardano was at $0.025 and a year later it was at $3. Everything can change very quickly. Winners and losers are constantly switching places. If we are real, we can survive anything. Don’t believe for a second that Cardano is dead.”

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Hoskinson stated that Cardano’s use of formal methods in its technical approach also offers a significant advantage, adding that many DeFi attacks in the sector are predictable and that Cardano therefore adopts a more disciplined software development approach.

Hoskinson said, “Cardano has some very unique features. We anticipated all the DeFi hacks, so we adopted a formal methods approach. All the coding processes lead to specifications, in our case formal specifications. We have a huge and established advantage in this area.”

Hoskinson stated that Midnight not only opens up a new area of privacy and scalability within Cardano, but also offers a structure that can connect different blockchain ecosystems to Cardano, adding that the project can bring functionality from networks like XRP, Ethereum, and Solana to the Cardano ecosystem.

According to Hoskinson, this expansion will not be limited to existing crypto networks. Web 2.5 chains, permissioned networks, and regulated chains will also be able to incorporate different functionalities into the ecosystem that are not directly available on Cardano’s main layer.

*This is not investment advice.

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