Charles Hoskinson, the Cardano Founder

Charles Hoskinson, the founder of Cardano, has labeled claims that he runs the ecosystem a “latency of fabrication.”

In a recent tweet, the industry leader dismissed rumors suggesting he controls the Cardano ecosystem, describing these views as misinformation. He noted that correcting such fabricated claims typically takes years and involves millions of dollars.

According to Hoskinson, speculation around this topic will continue in the crypto community over the next five years, further branding it as a “latency of fabrication.”

Cardano Founder Suggests It Would Take Time

Hoskinson’s remarks were a response to a user’s post that suggested Cardano suffers from centralization. The user claimed in a tweet that three organizations—the Cardano Foundation, Input Output Global (IOG), and EMURGO—govern the blockchain.

They argued that this alleged centralization renders Cardano inferior to Bitcoin. However, these claims arise amid significant advancements in the ADA blockchain, especially with major firms relinquishing their genesis keys ahead of the Chang upgrade, thus granting control to all ADA holders.

The September 1 hard fork achieved full decentralization for the Cardano network, empowering ADA holders and leading to the establishment of a constitutional committee (CC) and decentralized representatives (DReps) to enhance decentralized governance.

Despite the progress, Hoskinson indicated that it might take years and considerable publicity for some market participants to fully comprehend this shift. He hinted at a continual knowledge gap before widespread acceptance and adoption occur.

The Bitcoin Supremacy Debate Reignites

The criticism followed a Cardano advocate’s argument that the layer 1 network could address Bitcoin’s limitations. User Che DeBarna supported the view that Bitcoin remains crucial and there will never be a “better Bitcoin.”

While acknowledging Bitcoin’s drawbacks, the response suggested that a partnership with Cardano could complement the largest cryptocurrency by market cap. Cardano’s unique features, such as a lighter UTXO chain, similar security, and deterministic smart contracts, were highlighted as beneficial to the Bitcoin ecosystem.

Interestingly, Cardano’s EMURGO collaborated last year with BitcoinOS to integrate decentralized finance (DeFi) features into the Bitcoin network, potentially unlocking trillions in liquidity for the Cardano ecosystem.