Recent criticism labeling the Cardano network as a 'ghost chain' prompted a response from founder Charles Hoskinson, who highlighted Cardano's real progress and network growth.
Criticism and Response
Cardano founder Charles Hoskinson responded to critics calling the network a 'ghost chain'. A report by American magazine Fast Company highlighted findings from Cornell University's arXiv preprint server, indicating that less than 500 people may be responsible for over $3.2 trillion in artificial trading annually. Hoskinson emphasized that Cardano is based on genuine user activity, not fabricated trading volumes.
Recent Development Updates
Cardano's ecosystem continues to grow. According to the latest update shared by Input Output, there are 1,989 projects currently being developed on the platform. The number of delegated wallets has reached 1.328 million, with a 0.07% increase in staking activity since last week. Transaction volume has risen to 107.69 million, and the issuance of native tokens reached 10.72 million with 210,662 token policies.
Current Achievements and Integrations
Cardano is actively growing both within and beyond its ecosystem. The local Lace wallet is expanding its capabilities by becoming multichain, starting with Bitcoin. This same week, Coinbase filed with the CFTC to self-certify Cardano futures, while AMINA Bank launched Cardano staking services.
Despite the criticism, Cardano continues to demonstrate steady growth and development, with founder Charles Hoskinson confidently refuting negatives and highlighting the significant expansion of the network and its active progress.
