Charles Hoskinson, the founder of Cardano and CEO of Input Output Global, faces criticism from long-term ADA holders following his declaration that the project is complete.
Hoskinson's Completion Statement
Hoskinson stated that all contractual milestones set at Cardano's launch in 2015 were met by the end of 2020. He noted that since then, IOG has worked on next-generation updates like Hydra and Leios without guaranteed funding, adding that future work should be financed through on-chain treasury votes.
Community Criticism and Funding Issues
The community expressed doubts about Hoskinson's statements regarding the project's completion. Some users pointed out that key components, such as Basho, Leios, and Hydra, had not yet been implemented on the mainnet. Hoskinson also mentioned that without reliable funding, the team may leave the project.
Controversy Surrounding Cardano's Governance Structure
Hoskinson criticized the community's efforts to decentralize decision-making, arguing that it puts Western developers at a disadvantage. He emphasized that IOG would not operate at a loss and that the Cardano Foundation’s governance structure requires changes. Overall, these events highlight the challenges Cardano faces on its path to a more decentralized governance model.
These statements and community responses indicate that Cardano is experiencing challenges related to funding and governance. Future steps by the IOG team and their impact on the blockchain's development amid criticism will be closely observed.
