Cardano Founder Charles Hoskinson Has Been Accused of Deceit! This is What He Said

• There were accusations of deceit for Hoskinson. 
• Charles Hoskinson refuted these claims, citing sources of 1 million transactions per second for the Cardano network. 

There’s often controversy regarding Cardano founder Charles Hoskinson. So, there are times he would be in an argument with some Ethereum enthusiasts. But this time, it is about some of his past statements. 

Cardano Founder in a Huge Controversy 

• The Cardano founder, Charles Hoskinson, is always on the news for many things. So, this time around, it is about the accusations of deceit. The recent allegations are about some of the statements he made regarding the Cardano blockchain. The statement was basically about Hydra’s throughput capabilities. So, at one point, the Cardano founder made a claim that Hydra could achieve over 1 million transactions per second (TPS). 
• After many months of not seeing this desired result, many are calling out Charles Hoskinson for deceit. So, they are saying that the Cardano founder put out wrong and misleading information regarding the capabilities of Hydra. 

Cardano Founder Charles Hoskinson Responds to Accusations 

• Charles Hoskinson already has a response for those making these allegations against him. So, Hoskinson says the statements he made in the past have the backing of credible sources. On Twitter (now X), Hoskinson took his time to make out the origins of his statement and in what context. So, he made provision for an official dossier, where doubters can verify his past statements. 

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On Hydra Scaling https://t.co/u5tl7FBI9A

— Charles Hoskinson (@IOHK_Charles) October 5, 2023

• He made an explanation of how his past statements were more of a hypothesis assumption. So, there was an assumption that every Stake Pool Operator (SPO) on the Cardano network would simultaneously run an independent Hydra head. Assuming this was the case, Cardano could achieve a peak throughput of 1 million TPS. Furthermore, there were also chances of each head reaching speeds of 1000 TPS. 
• There was enough proof to back up the Cardano founder’s claims regarding the network. So, there was a chart from Cardano engineers predicting the throughput of Hydra Heads operating at approximately 1000 TPS. Apparently, the case of the Cardano founder was more of an assumption, and it is not currently the case for the network. 

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My comments where in reference to peak throughput that Philip Kant measured back in 2020 when we were first discussing the protocol. The protocol has evolved and has become more aligned with middleware infrastructure to be used in DApps to handle load intensive concerns that… pic.twitter.com/ad9vWw4nzr

— Charles Hoskinson (@IOHK_Charles) October 5, 2023

Current State of Cardano Network 

Image from DefiLlama 

• While the Cardano blockchain might not be hitting the 1 million transactions per second, there are definitely some positives. So, the current look of the network shows it’s healthy to a large extent. 
• According to data from DefiLlama, the network currently has over $160 million in TVL. So, this is presently bigger than that of zkSync Era at around $120 million. Data from Cardanoscan shows there are currently over 76,205,783 total transactions for this network. 

Image from Cardanoscan 

Conclusion 

Above, we discussed how there were accusations against the Cardano founder Charles Hoskinson regarding some of his claims about the network. So, there was a time when he said the Cardano network would reach over 1 million transactions per second. Hoskinson refuted these accusations, saying his claims were from official sources.

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