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Charles Hoskinson on Cardano's Suppression, Developments and Future

Charles Hoskinson is a bright and active speaker that frequently turns up on social media to answer questions from the community and share his views on industry developments. Our Cardano Observer, Jonatan Blum, watched his recent 2-hour-long AMA session in search of clues.

Charles Hoskinson of Cardano on AMA session 10 December 2022
Charles Hoskinson of Cardano on AMA session 10 December 2022. Source: Charles Hoskinson Youtube Channel

Mr. Hoskinson started the AMA by arguing that Cardano is continuously being suppressed and criticized. He was in Vechain, Solana, and Algorand twitter space a couple of days before the AMA, listening to the criticisms himself. He also emphasized that misunderstandings about Cardano are widespread and, more importantly, that they stem from prominent players in the space. Citing an example of the recent Block media scandal, he concluded that most of the misinformation comes from inappropriate media coverage.

Charles Hoskinson argued that some of these media channels, like The Block, mention Cardano negatively on purpose, because VCs linked too them could not “get rich quick” scenario with Cardano.

This is not the first time he compared Cardano with other projects. In the previous Messari interview, “What Everyone Gets Wrong About Cardano”, Mr. Hoskinson said that many blockchain projects have "Ponzi" tokenomics.

Ponzinomics or Ponzi Tokenomics refers to cryptocurrencies that are “Ponzi” based, where insiders sell tokens affecting later holders.

Cardano’s development and future plans

On questions regarding Cardano’s development, Mr. Hoskinson responded about side chains on Cardano, the speed of the chain, Ouroboros progress, and lifetime royalties on NFT. The offline chip project with the University of Wyoming is now abandoned. Cardano dAppStore and Lace beta wallet app, Mr. Hoskinson’s favourites, as he noted, are expected in 2023. He had a chance to elaborate on the purpose of Cardano's recent DUST token, but chose to laugh it off.

Mr. Hoskinson mentioned in the AMA that Cardano would have transaction prioritization in the future.

"As the system gets more adoption, tiered fees and TX prioritization will be absolutely necessary for Cardano."

TX prioritization means there will be a method that determines some transactions to go ahead of others in a given block. For example, in Ethereum, transactions are prioritized by the fee amount and not by the time of submission. As a result, blockchain transactions with low fees are skipped in favour of those with higher fees. Transaction priority by fees is one of the methods that is frequently employed in such circumstances and it has a drawback: only those who can afford high fees can utilize the network when there is a lot of traffic. So, at the moment, nothing new is proposed by Cardano, a project that emphasized inclusivity for people from developing nations. The less well-off will not be economically able to compete, something that is seen in Ethereum as well.

What else have we learned from the interview?

Charles Hoskinson is building an anti-aging research hospital, and he ordered a book “Mastering Cardano”. We also learned that Charles is looking at the Zettlekasten method for note-taking. Much time was spent discussing philosophical issues such as religion, Snowden, Jordan Peterson, AI and electric cars.

Overall, the impression from the AMA was that participants were more interested in Charles Hoskinson’s personal life and views rather than Cardano projects. Judging by the answers, Mr. Hoskinson had little to say about Cardano as well. We continue to observe this project.