Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Charles Hoskinson Chides Cardano Foundation President for Midnight Boycott

Charles Hoskinson Chides Cardano Foundation President for Midnight Boycott

U.TodayU.Today2025/01/19 19:33
By:U.Today

The internal crisis within the Cardano ecosystem at the executive level might be playing out again. On X, founder Charles Hoskinson directly  responded to a post from Cardano Foundation President Frederik Gregaard regarding the Layer-2 innovations built on the protocol. The callout comes as Gregaard boycotted the  Midnight Network .

Why Midnight Network boycott?

According to Gregaard, the Layer-2 ecosystems on Cardano offer security, scalability and privacy preservation for users. Placing in the spotlight, the Cardano Foundation President mentioned four key innovations to watch out for.

The first is State-channels, the  Hydra Head , which brings scalability and throughput without sacrificing security. He also mentioned Inter-Blockchain Communication (IBC), which helps Cardano connect with over 115 blockchains in the industry.

In addition, Gregaard spotlighted Optimistic Rollup, Midgard, which uses Cardano’s UTXO model to streamline validation. Lastly, he mentioned the Sky Protocol, which enhances data availability for decentralized applications hosted on the blockchain.

Of these mentions, he left out two critical innovations directly tied to Input Output Global (IOG), another founding entity of Cardano. These include the Midnight Network and Partnerchain, which have remained the core of IOG’s developmental effort in the past year.

The Cardano founder teased that Midnight is so private that it does not even get recognized when needed.

The magic of midnight is that it's so private that it doesn't even get mentioned :) https://t.co/s0FPXYsdRA pic.twitter.com/Ry05yP8GEu

— Charles Hoskinson (@IOHK_Charles) January 18, 2025

Cardano needs all the exposure

The protocol supports several innovations, with new builders supported by Project Catalyst. Notably, Cardano hopes to drive even more innovations through IOG this year. Top on this list is the integration of  RLUSD stablecoin to provide more liquidity for the broader ecosystem.

Beyond this, Charles Hoskinson has also set a defined target to pursue  Bitcoin DeFi . This initiative will help the Cardano ecosystem tap into the deep liquidity Bitcoin has to offer, setting it up with enhanced smart contract functionalities.

Community members have flagged the disconnect between Hoskinson and Gregaard, citing this as one of the few headwinds in the Cardano ecosystem.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

The Daily: ECB President Lagarde rejects bitcoin for Eurozone reserves while the Czech central bank considers it and more

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block2025/01/30 21:34