Charles Hoskinson Reveals Mithril Upgrade, Rebuts Criticism

Charles Hoskinson, founder of IOG and creator of the Cardano proof-of-stake blockchain, made a statement on the highly anticipated Mithril upgrade expected to launch this year. Moreover, he addressed a critic who disparaged ADA as an “s-coin” and accused Hoskinson of being a scammer.

Mithril Upgrade Aims to Enhance Cardano’s Scalability

Hoskinson explained that the Mithril upgrade aims to significantly enhance the scalability of the Cardano network. Specifically, Mithril will enable users to avoid the need for applications to run full nodes and validate each transaction individually on the Cardano chain.

Additionally, Mithril seeks to create a more decentralized and secure environment, minimizing the risk of centralization and ensuring the network’s overall integrity.

You know use light clients everywhere is basically the goal of Mithril. It's pretty cool that we have already a 2 year advantage on certain competition
— Charles Hoskinson (@IOHK_Charles) July 12, 2024

Addressing the Cardano community, Hoskinson emphasized the upgrade’s objective: “You know use light clients everywhere is basically the goal of Mithril.” He expressed pride in having “already a 2 year advantage on certain competition,” underscoring Cardano’s progress and innovation.

Hoskinson Responds to Critic Accusing Him of Scamming

Hoskinson also addressed criticism from a user on X with the pseudonym @sunnydecree, who has over 90,000 followers. The critic labeled ADA as “an s-coin with zero value” and accused Hoskinson of scamming investors for personal gain. According to the critic, Hoskinson had allegedly dumped ADA on easily deceived investors to make enough fiat money to “buy a farm and fly private jets.”

In response, Hoskinson maintained a calm demeanor and used a cartoon extract to counter the accusations. By doing so, he highlighted his commitment to Cardano and its community, as well as his resilience in the face of criticism. Charles Hoskinson’s statements on the Mithril upgrade and his response to detractors highlight his dedication to advancing the Cardano network. The Mithril upgrade promises to improve scalability and security, ensuring Cardano remains a leading blockchain platform.

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Despite facing criticism, Hoskinson continues to defend the value and potential of ADA, reinforcing his vision for a decentralized and robust blockchain ecosystem.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.