- Charles Hoskinson addresses specific tweets about the Cardano ruling on Twitter.
- Hoskinson shares the concept behind the CIP-1694 governance mechanism.
- The price of ADA has increased over the past seven days.
The topic of judgment was heated in Cardano (ADA) recent ecosystem. There have been many conversations on Crypto Twitter about the Cardano management system and CIP-1694.
according to Charles Hoskinson, “materially incorrect” suspicions are on the rise. The founder of Cardano and Input Output Global (IOG) shared a video in response, addressing CIP-1694 “Drama and FUD.”
In the video, Hoskinson talks about the drama “floating above Twitter” surrounding Cardano’s governance and the decision-making processes associated with it, in particular.
Charles Hoskinson responds
The self-proclaimed “King of the Rat” specifically highlights a tweet by cryptocurrency writer A Nerd on a Wire. tweet He calls out not only the Voltaire phase of Cardano but also the associated thought processes, which the author describes as “closed” meetings.
In the responses, the author later suggested that Cardano would force the ADA to vote or forfeit their reward.
According to Hoskinson, the whole concept of the CIP-1694 governance mechanism is that a “voting class” makes decisions on one of seven governance events. This too “is being discussed and debated in an increasingly open manner.”
Hoskinson uses the tweet as an example of the above “materially incorrect” Twitter drama. He further finds that A Nerd on a Wire’s comment is one of many dramatic comments from people who don’t take the time to understand the nuances of CIP-1694.
CIP, FUD, and ADA
a Cardano improvement proposal CIP is an official design document for the Cardano community. The proposal is, by design, decentralized and community-based. Materials from Cardano’s workshops are also publicly available.
Moreover, Cardano Voltaire era It is set to completely remove the ecosystem from IOG governance and place it under community rule.
according to Community member Hornan7, contestants are not forced to vote. He writes that anyone can opt-out of voting by “delegate to a preselected Drep”. This will reportedly cost “a staggering 0.17 ADA” with prizes too.
Another community member responds to FUD tweet He made the point that “without governance, you cannot vote on how governance is created”.
Although some FUD claims have been debunked by Hoskinson, the Cardano community has a long history Split reputationEspecially on Twitter. According to Hoskinson, such drama, unfortunately, spreads FUD regardless of its originality and accuracy.
ADA’s price does not respond in any significant way to FUD or the ongoing publication of developments on Cardano. At the time of this writing, ADA is trading at $0.34, marking an increase of 7.19% over the past seven days.
on the flip side
- Charles hoskinson called twitter and modes many times before.
- The Cardano founder urges the community to read the CIP-1694 proposal.
Why should you bother
The Voltaire era is the final step towards the Cardano network becoming a fully self-sustaining, decentralized system. Amid FUD, the community has long waited for an ADA price breakout in response to the innovation showcased by the development of the network.
Read more about the Voltaire era on Cardano:
Will Voltaire Trigger Long Overdue Cardano (ADA) Breakout?
Read more about the latest news about the Solana ecosystem:
Formfunction Demise: Solana (SOL) NFT Marketplace Takes a Blow