Charles Hoskinson Says Failed Cardano Stablecoin Project a Total Loss on Investment, ‘Utterly Distasteful’

Ethereum (ethereum) co-founder Charles Hoskinson is working on issues related to Aldana, the recently defunct Cardano-based stablecoin project.

Hoskinson in new video update To tell As an early investor in the project, his investment appears to be a total loss.

“I’ve seen you complaining the last few days. [Ardana] I had a problem and on Twitter, [a] The tweet revealed that they have now ceased operations, or at least scaled back to the point where they can no longer deliver what they promised.

Well I was an investor [the] Project through C fund…probably a total loss. What was incredibly offensive to me was that the managers of these projects blamed Cardano for their failures. “

Aldana said building Cardano (ADA) Blockchain was “difficult” and was taken out of production and left the code open source.

“Unfortunately, due to recent developments regarding funding and project timeline uncertainty, Aldana Project had to stop. It remains open source so that it can continue.

Developing with Cardano has been difficult as a lot of money has been spent on tools, infrastructure and security. This, along with uncertainty about the completion of development, led to the best course of action to halt development. [the project]”

Hoskinson said the problem is not with the technology behind Cardano or lack of funding, but with the leadership of the project.

“Ethereum raised $18 million, of which only $9 million could be deployed, lost $9 million in market volatility, was able to hedge Bitcoin properly, and became the second largest market cryptocurrency in the world. It wasn’t a question of funding, it wasn’t a question of platform, it seemed like it was a question of leadership…

My understanding is that it was Twitter, like you, that was first informed that these projects were in trouble after speaking with the C Fund.


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