Cardano (ADA) Founder Charles Hoskinson Says He Cannot Change ADA’s Supply Or Force The Vasil Hard Fork

In response to the alleged centralization of Cardano, Founder Charles Hoskinson has explained that he does not have the power to force the Vasil hard fork or change the supply of ADA. 

Hoskinson Can’t Force the Vasil Hard Fork 

On September 9th, a Bitcoin maximalist who goes by @btc_bryan_21 on Twitter claimed that Charles Hoskinson had the power to change the supply of Cardano (ADA) by deciding to burn ADA tokens. 

@btc_bryan_21 alleged that Hoskinson could do this because of the centralization of the Cardano network. Hoskinson wasted no time in shooting back, explaining that he can’t even force the Vasil hard fork. 

Hoskinson wrote on Twitter:

Hoskinson’s reply marks the latest episode in his tussle with Bitcoin maximalists, who he believes are intellectually dishonest. Earlier this year, Hoskinson called out MicroStrategy’s Michael Saylor and Jimmy Song for criticizing PoS networks.

Hoskinson’s Stance on Token Burning

Unknown to the Bitcoin maximalist, Charles Hoskinson has made it clear in the past that he strongly opposes the idea of burning ADA tokens as a way of boosting its value.

According to Hoskinson, such a move requires ADA to be stolen from its holders for it to be destroyed, comparing the idea of burning ADA to stealing food last year.

On the Flipside

  • Hoskinson previously announced that he expects the Vasil upgrade to launch on September 22nd, once it meets key metrics.

Why You Should Care

With over 3.000 staking pools, a governance structure, and a treasury for future development, Cardano is too decentralized for Hoskinson to enact changes on his own.

Get the latest update on Vasil’s launch:

Eight Leading Exchanges Upgrade Their Systems Ahead Of Cardano’s Vasil Hard Fork

Read how the crypto community is preparing for the Vasil upgrade below:

The World’s Largest DApp Store Launches Support For Cardano (ADA) Ahead Of Vasil Upgrade

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).