Cardano Founder Charles Hoskinson Busts ‘Ghost Chain’ Myth

Last Updated: 3 August 2023

The Cardano blockchain has recently come under fire from some members of the broader crypto community, who accused it of being a ‘ghost chain.’ These unfounded claims sparked frustration and concern among ADA holders, but the Cardano community, led by its founder Charles Hoskinson, rallied together to debunk these speculations once and for all.

TapTools Presents Compelling Evidence

Amid mounting frustration over the accusations, TapTools, a prominent Cardano wallet provider, took up the challenge to refute the ‘ghost chain’ rumors with strong evidence. They emphasized the remarkable achievement of Cardano’s Proof-of-Stake network, which processed over 72 million transactions, each representing a unique interaction. This showcased the vibrant activity and functionality of the Cardano ecosystem.

Strength in Numbers and Activity

TapTools highlighted the strength of Cardano by pointing out some key statistics. The platform showcased the existence of 8.6 million native assets on Cardano and the impressive surge in Total Value Locked (TVL), which reached $190 million with a remarkable 300% growth this year. These numbers indicated the community’s confidence and active engagement with the platform.

Support from Other Platforms and Influencers

The response to the ‘ghost chain’ accusations wasn’t limited to TapTools. Other Cardano platforms and influencers also joined the conversation, showing their support for the network. Some highlighted Cardano’s unmatched six-year uptime, demonstrating its reliability and stability. Others pointed to the rapidly growing active user base, which further solidified Cardano’s presence in the blockchain space.

Decisive Statistics

With over 4.2 million ADA wallets in existence and 22.6 billion ADA staked, the data decisively put to rest the notion of Cardano being a ‘ghost chain.’ These figures showcased the network’s widespread adoption and participation.

Charles Hoskinson’s Playful Remark

In a lighthearted conclusion to the debate, Charles Hoskinson himself humorously remarked, ‘Ghost chain gonna ghost,’ playfully dismissing the speculators and having the last laugh.

The Significance of the Response

The Cardano community’s swift and well-supported response carries significant importance. Amid the remarkable growth of Cardano this year with its numerous developments, the community displayed unity and strength in addressing baseless accusations with concrete evidence. This not only reaffirms Cardano’s position in the blockchain space but also showcases the power of a strong and united community in safeguarding the reputation of their chosen cryptocurrency.

Furthermore, the Cardano community’s resolute response highlights the immense potential for investors seeking opportunities in the ever-evolving cryptocurrency landscape. As the platform continues to thrive and showcase its robustness, it offers a compelling case for those looking to diversify their investment portfolios. For sophisticated and intuitive trading experiences, platforms like BitAI Method and Coin GPT provide investors with access to Cardano and a wide array of cryptocurrencies, empowering them to capitalize on the dynamic growth of the blockchain revolution.

  • Gabriele Spapperi

    Gabriele Spapperi is a veteran cryptocurrency investor and blockchain technology specialist. He became fascinated with Bitcoin and distributed ledgers while studying computer science at MIT in 2011.

    Since 2013, Gabriele has actively traded major cryptocurrencies and identified early-stage projects to invest in. He contributes articles to leading fintech publications sharing his insights on blockchain technology, crypto markets, and trading strategies.

    With over a decade of experience in the crypto space, Gabriele provides reliable insights and analysis on the latest developments in digital assets and blockchain platforms. When he's not analyzing crypto markets, Gabriele enjoys travel, golf, and fine wine. He currently resides in Austin, Texas.

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