Cardano

Vision

Summit

Read

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/cardano-is-one-of-greatest-tech-achievements-in-human-history-charles-hoskinson" rel="noopener noreferrer nofollow">Cardano</a> Founder Charles Hoskinson has addressed calls for transparency within the blockchain’s ecosystem. In a short video excerpt <a href="https://x.com/PlutusPool/status/1853228809010782708" rel="noopener noreferrer nofollow">shared</a> by Plutus Staking on X, Hoskinson clarified for users the sacrifices he has made for the community.
<h2 id="charles-hoskinson-s-massive-financial-investment-and-sacrifices">Charles Hoskinson’s massive financial investment and sacrifices</h2>
According to Hoskinson, a lot of investment has gone into the development of Cardano. He stated that initially, he spent a lot of resources as payment for development contracts. This includes about $36 million worth of Bitcoin and around $6 million of Ethereum. Together, this is worth about $38 million in payments.
Hoskinson emphasized that his out-of-pocket expense for the Cardano project is $450 million. These funds were channeled into growing the blockchain from its inception stage to date.
<blockquote class="twitter-tweet">
 Charles on the true cost of building <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a>"Spent out of my own pocket $450M for this ecosystem"<a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://t.co/C6qxX4ZpgY" rel="noopener noreferrer nofollow">pic.twitter.com/C6qxX4ZpgY</a>— Plutus Staking (@PlutusPool) <a href="https://twitter.com/PlutusPool/status/1853228809010782708?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 4, 2024</a>
</blockquote>
Hoskinson did not appreciate the naysayers who constantly demanded the publication of Cardano’s books. The Cardano founder explained that the blockchain does not operate as a profit-driven organization like traditional businesses. He suggests that those making the calls were not being fair in their criticism of the platform.
Interestingly, the video has sparked debate among some members of the broader cryptocurrency community. While acknowledging Hoskinson for his vision, a user, Shiv_ada (@shivam140307), maintained that those questioning him were not out of line.
“We all are in blockchain space where we were told from the first day to not trust but verify… we can't blindly trust anyone including Charles,” he wrote.
<h2 id="vision-for-cardano-s-future">Vision for Cardano’s future</h2>
Despite perceived criticism, Hoskinson says he remains confident that Cardano will<a href="https://u.today/cardano-will-surpass-bitcoin-and-ethereum-charles-hoskinson-hints-timeline" rel="noopener noreferrer nofollow">surpass</a> Bitcoin and Ethereum’s achievements in the next 10 years. He stated this at the fourth edition of the Cardano Summit held in Buenos Aires, Argentina. He based his optimism on the significant milestones it achieved in seven years.
Charles Hoskinson has consistently explained and <a href="https://u.today/cardano-will-not-go-down-charles-hoskinson-shares-crucial-message-to-ada-community" rel="noopener noreferrer nofollow">defended the Cardano network</a> and ADA on podcasts and at conferences.
ADA has sharply declined, with several episodes of volatility within the last 24 hours. According to data, ADA trades for $0.3341 as of this writing, up by 0.21%. <a href="https://u.today/charles-hoskinson-reveals-true-cost-of-building-cardano" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Charles Hoskinson Reveals True Cost of Building Cardano

Table of Contents

U_Today

Other articles published on Nov 4, 2024

How to Buy Bounce Finance Governance Token?

6 Best Cheap Crypto to Buy Now Under 1 Dollar November 4 – Ondo, Polygon, Conflux, Arbitrum

U.S. Election 2024: How Will the Bitcoin & Stock Market React Tomorrow?

$28K or $80K? Bitcoin Traders Brace for a Wild Election-Driven Market Swing!

Open Financial Freedom: 3 Passive Income Strategies with Nordic Arbex

Ethereum Remains Largely Unrecognized by Wall Street Investors, Similar to Amazon in the 1990s

Join our free newsletter for daily crypto updates!