Forbes' "Crypto Zombie" Claims Draw Fire, Cardano Co-Founder Stands by Web3

Forbes has published an article questioning the prospects of Cardano, Ripple, and Bitcoin Cash. Charles Hoskinson, Cardano's co-founder, has countered these claims by defending the Web3 community against Forbes' allegations of "crypto zombies."

Forbes' "Crypto Zombie" Allegations Spark Controversy, Cardano Co-Founder Defends Web3

In a recent article, Forbes cast doubt on the long-term viability of several cryptocurrencies, including Cardano (ADA), Ripple (XRP), and Bitcoin Cash (BCH). The article labeled these projects as "crypto zombies," alleging a lack of significant growth and innovation.

However, Cardano co-founder Charles Hoskinson has vehemently defended the broader Web3 community against these accusations. Taking to Twitter, Hoskinson asserted that the projects Forbes labeled as "crypto zombies" possess significant intellectual capital and are actively contributing to the development of the Web3 ecosystem.

Hoskinson's response has been met with support from the community. Bill Morgan, an XRP lawyer, highlighted the ongoing adoption of XRP by institutions despite the ongoing legal challenges faced by Ripple. Mekras, co-founder of Anodos Finance, criticized Forbes for "nonsense and misinformation," pointing out the lack of rigorous research in the article.

The Forbes article raised concerns about Cardano's developmental stages, questioning its future trajectory. It also suggested that Hoskinson's popularity may overshadow the intrinsic value and utility of the Cardano blockchain.

However, analysts believe that Forbes' analysis of Cardano is overly pessimistic. ADA has consistently outperformed the broader crypto market over the past year, suggesting strong investor confidence in the project. Cardano's focus on rigorous scientific research and a robust roadmap has contributed to its growing popularity.

Furthermore, Hoskinson's influence should not be seen as a liability. His vision and leadership have been instrumental in the development of Cardano and its ecosystem. His popularity serves as a testament to the community's belief in the project's potential.

The Forbes article has sparked an important debate about the long-term viability of cryptocurrencies. While some projects may indeed struggle to survive, Cardano, Ripple, and Bitcoin Cash have demonstrated a strong foundation and a commitment to innovation. The community's response to Forbes' allegations reflects a growing confidence in the Web3 ecosystem and its ability to create lasting value.