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Cardano’s founder Charles Hoskinson not too long ago addressed claims that Cardano is a “ghost chain,” which the community opponents name it to reference a drop in NFT gross sales.
Nevertheless, Hoskinson laughed it off, making enjoyable of the claims and the moniker.
Cardano will not be a ghost chain, and right here is why
“Ghost Chain” is a reputation sometimes used to explain a blockchain with little to no exercise. With a drop in NFT gross sales, some have began referring to Cardano (ADA) as such, however the challenge’s founder responded by sharing a cartoon gif of an individual dancing beneath a white sheet, impersonating a ghost.
Ghostchain gonna Ghost https://t.co/eWo4Z0hXP6 pic.twitter.com/w1tBvjtByb
— Charles Hoskinson (@IOHK_Charles) August 1, 2023
His solely remark was: “Ghostchain gonna Ghost,” exhibiting that he finds the entire state of affairs amusing.
On a extra severe observe, he additionally reposted a tweet by TapTools, which has listed numerous arguments towards the claims that Cardano is seeing no exercise.
GHOST CHAIN MYTH DEBUNKED
There is a sure fantasy circulating throughout the cryptosphere, a story spun about #Cardano being a ‘ghost chain’. Immediately, we stand to problem and dispel this narrative, with irrefutable information.
To begin with, the Cardano blockchain has already processed…
— TapTools (@TapTools) July 31, 2023
In response to the tweet, Cardano has seen over 72.5 million transactions processed, which serves to point out that the blockchain is seeing virtually fixed exercise.
The publish additionally argues that Cardano acts as a house for over 8.6 million native belongings, which is actually not a determine one would affiliate with a ghost chain.
TapTools additionally highlighted the exponential progress of the community’s TVL, which exceeded $185 million, stating that it is a clear sign of accelerating confidence and engagement from the neighborhood. All of this instantly contradicts the ghost chain narrative, in keeping with the publish.
The consumer additional identified that the variety of ADA wallets has exceeded 4.2 million and continues to develop day by day.
In response to them, this reveals the heartbeat of the Cardano neighborhood, which is simply one other approach to present that Cardano is something however a ghost city.
The concluded,
However past the stats, what actually units Cardano aside is the energy of its neighborhood. United by shared values and a imaginative and prescient of a decentralized future, the Cardano neighborhood is vibrant, engaged, and rising. Their ardour and perception are the true driving drive behind Cardano’s success.
Cardano improvement continues even when the worth stagnates
Cardano can also be advancing by way of improvement. Not too long ago, the challenge launched its long-anticipated stake-based signature protocol, Mithril.
Mithril is an progressive protocol that intends to extend node sync effectivity and enhance the decentralization of Cardano’s blockchain.
When it comes to market cap, Cardano at present sits because the Eighth-largest cryptocurrency, with over $10.6 billion. Its value did see successful not too long ago, seemingly brought on by the drop within the Bitcoin value.
On the time of writing, it sits at $0.3048, with a 2.68% drop within the final 24 hours. On the plus facet, Cardano continues to be 0.17% larger than it was every week in the past, and its 24h quantity is at $244.6 million.
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