“Over promise, under deliver, never deliver” may be the latest crypto motto according to…
Charles Hoskinson, founder of Cardano [ADA], took to Twitter to respond to an allegation surrounding Cardano’s ongoing projects. He tweeted that despite all the progress the blockchain made, some individuals failed to see the same.
The co-founder’s tweet was in response to a netizen who speculated on the behavior of cryptocurrency companies around over-promising and under-delivering. Or worse, never deliver to keep people glued for possible future results.
What is extraordinary to me is that the people tweeting these things actually believe it regardless of the evidence provided. It is basically like religious belief. Every year we’ve moved mountains together, but he can’t see any of it. I wonder what causes it pic.twitter.com/FdYwZGb1S6
— Charles Hoskinson (@IOHK_Charles) 1 October 2022
Nothing new to offer?
In addition to the matter at hand, Hoskinson stated that the presence of FUD ghost chains had been noted in advance of the Vasil upgrade. A report released in August also stated that there was significant FUD surrounding Cardano.
Furthermore, a prominent crypto-influencer had on TikTok claimed that for a project that had as high a market value as Cardano, blockchain didn’t have much to show for it. Hoskinson was quick to oppose him and tired that the chain had over 1,000 projects with a community of over three million users. But speculation regarding the scalability of the project still remained.
Source: CoinMarketCap
However, the value of ADA was on a downward trend at press time, changing hands at $0.422.
Can we move on now? Maybe not…
Ripple [XRP] has been involved with the US Securities and Exchange Commission (SEC) for the longest time. Despite the odds of Ripple emerging as the winner, Ripple investors went through significant hardship due to the lawsuit.
Furthermore, not only Cardano and Ripple, but other networks such as Solana [SOL] has also been a cause of distress. Solana crashed once again this weekend due to which transactions on the networks could not go through.
This will not be the first time the network has experienced power outages, as Solana witnessed the same in January, April, May and June. For a project titled “Ethereum killer”, Solana cannot be considered as one that lived up to its name.
As times get tougher…
There are a number of cryptocurrency projects that had promised big but failed to deliver remarkable results. Some due to their own limitations, while some due to oversight by regulatory authorities. Additionally, as the SEC tightens its controls, the future of cryptocurrencies may be filled with some uncertainties.
In addition, the aforementioned speculations may still be widespread if many projects offer only hope and no profit to offer.
