Cardano (ADA) Founder Charles Hoskinson Takes Shots at Ethereum (ETH), Contrasting Its Slow Upgrade Process

input: This article captures my entire point about the need for things like Voltaire https://t.co/JkG7iuOBfKOnchain governance allows us to delegate authority to leaders where and when necessary to solve hard problems and evolve the ecosystem. The absence of governance means

Cardano founder Charles Hoskinson is taking aim at Ethereum once again, highlighting the sluggish pace of upgrades in the world's second-largest cryptocurrency and contrasting it with Cardano's on-chain governance model, which enables a more streamlined approach to evolution.

In a post on X, formerly Twitter, Hoskinson shared an article by developer Harikrishnan Mulackal, who laments the "lack of a clear and cohesive vision for Ethereum and EVM."

This article captures my entire point about the need for things like Voltaire. Onchain governance allows us to delegate authority to leaders where and when necessary to solve hard problems and evolve the ecosystem. The absence of governance means decentralization gets in the way of progress. The presence means that decentralization enables progress.https://t.co/JkG7iuOBfK

— Charles Hoskinson (@chainalysis) August 27, 2024

Why Is On-Chain Governance Important For Cardano?

According to Hoskinson, decentralized ecosystems face the challenge of making decisions effectively while engaging a vast community.

While decentralization is crucial for security and community involvement, it can also make progress slow.

The Voltaire upgrade aims to solve this by enabling efficient delegation of authority when necessary.

"Onchain governance allows us to delegate authority to leaders where and when necessary to solve hard problems and evolve the ecosystem. The absence of governance means decentralization gets in the way of progress. The presence means that decentralization enables progress," said Hoskinson.

The crypto entrepreneur's comments come as Mulackal, a Solidity expert, pointed out that only one major Ethereum Virtual Machine (EVM) change has been proposed in the last five years.

According to Mulackal, Ethereum's strong decentralization has led to delays in implementing necessary changes, which could hinder its long-term competitiveness.

In contrast, Hoskinson argues that Cardano's approach to governance through Voltaire will enable continuous and structured upgrades, ensuring that the platform remains adaptable and efficient. The proposed governance system aims to reduce coordination costs and allow broader participation from the community rather than relying on a few influential voices.

What's The Current Price Action For ADA?

At the time of writing, ADA is trading at $0.7168, down 2.85% in the past 24 hours, according to CoinMarketCap data.

As per the daily chart below, the Relative Strength Index (RSI) stands at 46.01, indicating that ADA is in the neutral territory.

Further, the price is hovering around the middle Bollinger Band level of $0.7741, with the upper band at $1.0287 and the lower band at $0.5196.

A breakout above $0.7593 (20-day Exponential Moving Average) could signal bullish momentum, while a breakdown below $0.7024 could indicate further downside.

For ADA holders, the key is whether these upgrades can translate into price appreciation.