Charles Hoskinson Denies Claims About Cardano’s Staking System
Cardano’s founder Charles Hoskinson has rejected recent claims about the network’s staking system, calling them “false and misleading.”
Hoskinson criticized the idea that ADA’s high market cap is due to investors being unable to sell their tokens, clarifying that staked ADA tokens are not locked.
He responded to allegations made in a recent podcast, where some commentators suggested that Cardano’s market value was inflated by these staking practices.
The Cardano community has also pushed back against these claims. PRIDE, a prominent stake pool operator, emphasized that Cardano offers native liquid staking, meaning users can still access their ADA tokens even when staked.
READ MORE: Cardano Founder Rejects Proposal for Treasury Token Burn
This system avoids the need for derivatives and ensures that tokens remain under user control.
Data from Staking Rewards shows that over 22 billion ADA tokens are staked, earning a 2.82% annual return.
The controversy comes amid recent advancements for Cardano, including the completion of the first phase of the Chang Hard Fork, which introduced decentralized governance.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
