Cardano Needs Executive Voice to Lead Bitcoin DeFi: Charles Hoskinson

Charles Hoskinson, who founded Cardano, notes that the absence of a clear leader makes it challenging for the network to establish its identity and share its progress with the public.

Notably, Cardano is becoming a robust platform for smart contracts, particularly through its integration with Bitcoin. However, this focus has sparked a conversation about how Cardano is perceived and the problems associated with its shared governance.

Hoskinson recently addressed on X, stating that Cardano needs a straightforward and strong narrative to guide how people perceive it. He believes the network has many new developments that can form this story.

Moreover, besides being secure and widely adopted, Cardano has made significant strides with Leios, Hydra, and the Midnight Glacier Drop. Even with these technical wins, Hoskinson believes the best chance for a strong narrative lies in the growing work with Bitcoin’s decentralized finance (DeFi).

Cardano Needs an Executive Voice

Cardano is working to incorporate Bitcoin DeFi features, leveraging its advanced smart contract capabilities to enhance the integration. This effort is gaining speed. Minswap, the blockchain’s largest decentralized exchange, is preparing to support Bitcoin, aiming to tap into a substantial amount of capital.

Cardano’s shared control, though a main part of its design, makes it tricky to guide its story. Hoskinson has admitted he tries to guide these stories himself, which has led to criticism. Some well-known podcasters and leaders in crypto have called Cardano a “dying chain” and compared it to a cult.

“I feel their frustration and exhaustion, especially when we are mocked by podcasters and “thought leaders” who write off Cardano as a cult or a dying chain. No one is more frustrated than IOG, given we are at the nexus of amazing innovation and see that Cardano is best positioned to capture the next trillion dollars of growth,” Hoskinson addressed public frustration.

Input Output Global (IOG), the company Hoskinson founded, continues to lead Cardano’s technical work and, therefore, its story. However, Hoskinson has discussed the downsides of this central role. He uses the serious claims of stealing ADA tokens as an example of how his company, and he himself, face bad feelings, even when these claims are not true.

Previously, Hoskinson identified a significant issue for Cardano’s growth as a lack of stablecoins, and he suggested ways to address this. A big plan to change $100 million worth of ADA faced strong disagreement, leading Hoskinson to ask the community for more maturity and foresight, telling them to “grow up or fall behind.”

The post Cardano Needs Executive Voice to Lead Bitcoin DeFi: Charles Hoskinson appeared first on Cointab.