Charles Hoskison, the CEO of IOG, the firm that developed the Cardano proof-of-stake blockchain, has turned to Twitter to respond to critics who claim that Cardano lacks a technological component and just provides religion to its community. In addition to this, they assert that “major investors” do not even take Cardano into consideration as a potential investment choice.
A recent episode of the podcast “Crypto Banter” included a roundtable discussion with a number of cryptocurrency industry veterans (founder of Messari Ryan Selkis, managing partner at Dragonfly Capital Haseeb Qureshi, and Avichal Garg – a managing partner at Electric Capital, serial entrepreneur, and angel investor).
Ran NeuNer, the founder of “Crypto Banter” and a presenter on CNBC’s crypto trading show, acted as the podcast’s host. According to Haseeb Qureshi, “all large smart money investors” are not considering Cardano as an investment option. “They don’t put any effort into it, and they don’t do any research on it.” When asked why these individuals apparently do not consider the largest proof-of-stake blockchain and its native token ADA, he responded by stating that he believes cryptocurrency is “a blend of technology and religion.”
According to Qureshi, every cryptocurrency has to have both. It was asserted by him, and the presenter agreed with him, that Cardano practises religion apart from technology. After that, Ran NeuNer expressed his opinion that, in contrast to Ethereum and Solana, Cardano and Charles Hoskinson have adopted a method that is slow in order to construct their blockchain in a deep and scholarly manner, with no haste and with care paid to each and every aspect.
As a result, he said that “we are extremely early in the race.” But the thing that worries him the most about Cardano is the fact that he does not see a great deal of development activity on this chain or a great deal of venture capital money invested in it. He also mentioned that he does not believe there will be a significant number of projects developed on Cardano.