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The controversy reached a boiling point after Hoskinson’s interview with Cointelegraph at the Token2049 conference in Singapore, where he thoroughly discussed diverse blockchain governance models.
Cointelegraph’s article, published on September 25, reported that Hoskinson characterized Ethereum’s governance as a “dictatorship,” implying that co-founder Vitalik Buterin holds substantial sway over the network’s direction.
However, Hoskinson quickly took to X to express his frustration, condemning the sensationalism and stating, “I’m just going to stop giving you guys interviews. I’ve had enough of the dramatic headlines and wasted interviews.”
To clarify his stance, Hoskinson later engaged in a candid conversation with crypto analyst David Gokhshtein on Sept. 27, where he provided in-depth insights into his initial remarks and aired out his grievances about their misrepresentation.
Cardano’s Democratic Governance vs. Ethereum’s Structure
Hoskinson emphasized that Cardano’s governance aims to be a balanced system, offering its community a voice in leadership and the project’s roadmap, unlike the centralized structure observed in Ethereum. His intention was to highlight governance differences, not to disparage Ethereum or its team.
“The whole point of Cardano governance is that it’s a middle ground where you actually get to vote for your leadership, you actually get to vote on the roadmap,” Hoskinson noted. Moreover, he stressed that he holds no personal grudges against Vitalik Buterin, underscoring, “They’re the ones talking about me, not me talking about them.”
Crucial Differences in Blockchain Governance
Delving into the broader issue, Hoskinson pointed out that Cardano aims to strike a balance between Bitcoin’s rigid governance and Ethereum’s centralized decision-making. He reiterated, “We have one [on-chain government], so that was the only point,” emphasizing Cardano’s commitment to more democratic governance.
He called for more responsible reporting in the crypto space, suggesting that future interviews be conducted live and unedited to avoid misinterpretation.
Addressing Misinformation About Cardano
Hoskinson also addressed a recurring issue where Cardano has been the subject of misinformation. Recently, he countered claims stating that ADA’s market strength is mainly due to stakers being unable to sell their locked assets, thus inflating its value. “The lies and misinformation about Cardano have reached epic levels. Staking isn’t locked, yet the narrative persists. Why does anyone trust these sources anymore?” he tweeted on Sep. 11.
Such instances underscore the need for accurate information and responsible journalism in the ever-evolving world of cryptocurrency.
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