- The Cardano project was recently criticized by a user claiming it will clone another working POS chain and call it an update of ADA.
- However, Cardano founder Charles Hoskinson responded that these critics as being delusional.
Cardano is currently in the third stage of its development roadmap, Goguen. Recently, the first testnet for the Alonzo smart contract was launched with many reports expecting the project to go live on the mainnet in a couple of weeks, a move that will allow for the full integration of smart contracts on the network.
The hype surrounding the project has been reflected in its price with an incredible run this year. However, many critics suspect that Cardano may not be able to live up to the hype. A user identified as S.Z Tanyel tweeted:
@IOHK_Charles will most likely completely clone another working POS chain and call it an update of $ADA and decorate it with fact-bending theses to make it look like it evolved from the current GitHub.
I've found free money on Polymarket
There is no chance $ADA will have a functioning smart contract on mainnet in 2021. Charles Hoskinson especially mentioned this bet and made fun of it. Surely he will ignore it when this bet resolves and ''No'' betters get their rewards. pic.twitter.com/nOfCZU1yWl
— S. Z. Tanyel (@tanybro) July 24, 2021
In response, Charles Hoskinson, the founder of Cardano, tweeted that the next two months “will be fun.”
It’s amazing how delusional some people are. This is honestly the level Cardano critics are at now. The next two months are going to be fun. Expect a lot of meltdowns and temper tantrums from the paint chip brigade.
Cardano smart contract could be fully implemented in September
Cardano is referred to as the “Ghost of Blockchain,” and in 2020, critics slammed the project for lack of assets or DApps operating on the blockchain.
A user identified as Evan Van Ness tweeted:
Do people realize that Cardano barely does 20k transactions per day? Yet $ADA has a valuation of $63b despite zero traction a full 5 years after its ICO. That’s $1.93m in valuation per daily transaction.
Despite the criticisms, several experts rate the project as one of the few cryptos that may lead a massive revolution in the crypto industry. Just recently, Portfolio Strategist at MorningStar, Amy Arnott mentioned that Cardano will join Bitcoin and Ethereum to form the “big three cryptos” to go mainstream.
There have been several ongoing projects including the recent successful implementation of the Alonzo “White” on the mainnet after the forking of the Alonzo testnet. These are all part of its plans to get closer to the launch of smart contracts. However, there was a delay in the scheduled roadmap about the 1.2.8 node that integrated “validation fixes as discovered by a series of tests”.
It is expected that the Cardano smart contract would be fully implemented around September after the completion of the Alonzo “Purple” phase.