Charles Hoskinson Clarifies His Position on Sui, Emphasizes His Commitment to Cardano (ADA)

Charles Hoskinson, the founder of Cardano (ADA), addressed the crypto community from London amid a European tour that included Italy and Switzerland

Charles Hoskinson, the founder of Cardano (ADA), addressed the crypto community from London amid a European tour that included Italy and Switzerland on Sunday. In a video update, Hoskinson dispelled rumors about his commitment to ADA while offering insights into other blockchain projects, notably Sui.

Hoskinson began by acknowledging the polarized nature of the crypto ecosystem. “People are so radicalized and polar that they anticipate the founder of Cardano to always just say negative things about the things that people do,” he said. “If I say anything positive, there’s this immediate impression that I’m abandoning Cardano or somehow being disloyal to the project.”

He emphasized that such tribalism is counterproductive. “That tribalism is intrinsically self-destructive,” Hoskinson stated. “It prevents us from learning and growing together as an ecosystem.”

Hoskinson's comments about Sui, a high-throughput blockchain project, sparked speculation about his allegiance to ADA. Addressing this, he noted his objective interest in Sui's technology, particularly its consensus protocol developed by George Danezis, a researcher Hoskinson has known for nearly a decade.

“I've been looking at the project with an objective eye,” Hoskinson explained. “Some of the technology comes from George Danezis […] He wrote a paper called Narwhal and Tusk, which is one of the fastest BFT protocols ever conceived—incredibly high throughput, six-figure TPS, low latency.”

He clarified his position regarding Sui: “Not commenting on the distribution, the tokenomics, how they've launched—all those things—I haven't looked at those things, nor do I care about them. I don't hold any [Sui tokens], and I'm not involved with the project in any way.”

Hoskinson also took the opportunity to reaffirm his dedication to ADA and highlighted its advancements. “Cardano is about compositionality and momentum,” he said. “When we make design decisions as an ecosystem, we build on top of those decisions for years to decades to come.”

He addressed criticisms about Cardano's technology being outdated: “What's ironic about it is that Ethereum is desperate to try to be Cardano. They're trying to figure out how to do on-chain governance; they're trying to have liquid, non-custodial staking; they're trying to figure out how to bolt on UTXO.”

Hoskinson detailed ongoing developments within the ecosystem, including the Ouroboros Leios Protocol which “will be the fastest single-shard protocol around,” according to Hoskinson who added, “The CIP is written; we're nearly done with the prototyping of it.”

The ADA founder praised the progress on governance and decentralization: “We have just turned on the largest decentralized government in the entire industry […] There are more than 500 people who have signed up to be DReps.”

He emphasized that ADA's approach is geared towards long-term success. “Cardano chose that road because it's a real cryptocurrency, and its aspiration is to be the dominant platform for the economic, political, and social systems of the world,” Hoskinson asserted and claimed, “We have the best network stack, the best consensus architecture, the best programming model.”

Directly tackling the speculation about leaving Cardano, Hoskinson stated: “I will praise from time to time good science and good engineering effort and interesting protocols that come across, but that doesn't mean in any sense of the word that I'm no longer on the Cardano train.”

He confidently projected Cardano's future: “Let me be very clear here: Cardano, I do believe, will become the largest cryptocurrency ecosystem in the world. It's going to take some time, and it's going to be done by the collective efforts of millions, if not tens of millions, of people working diligently in their own interests in their own projects over the coming years and decades.”

He concluded with a message of dedication and optimism: “I'm here to stay. I love every part of this. Cardano is here to change the world's economic, political, and social systems, and it's built purpose hand-in-glove for that expressed reason.”

At press time, ADA traded at $0.36.