Cardano's Media Struggle

Çardano Founder Charles Hoskinson said his network has been a victim of unfair news media coverage. In a recent post on X, he highlighted a disconnect between Cardano's capabilities and public perception.

Hoskinson said that despite Cardano's multiple positive developments in recent months, media outlets and crypto influencers have persistently portrayed it as a failure.

He criticized this narrative, emphasizing recent ecosystem advancements, including an upcoming hard fork. Hoskinson further asserted that Cardano will continue to thrive and provide solutions.

"It's beyond pathetic and reflects on the low quality and low effort they put into our ecosystem. Cardano is here to stay, and it's a juggernaut that will drag this industry kicking and screaming if it has to towards solving the real-world economic, political, and social issues we all face," Hoskinson said.

The Proposal of a Media DAO

Hoskinson contemplates creating a not-for-profit media decentralized autonomous organization (DAO) in response to the perceived bias.

Hoskinson said this DAO would focus on ensuring fair reporting within the crypto industry. He initiated a poll on X to gauge community support for using the Cardano Treasury to fund the DAO. Notably, 70% of the respondents favor the move, with voting expected to end by July 13.

Addressing the Critics

This is not the first time Hoskinson has addressed Cardano's critics. The blockchain has faced scrutiny for not meeting expectations compared to peers like Ethereum and Solana, as well as complaints over its ADA token price struggles.

Earlier in the year, Forbes included Cardano in its 'zombie chain' list, claiming the network's value is primarily driven by Hoskinson's popularity. Cardano has seen limited DeFi. Its DEX trading volume represents just 0.04% of the market.

Technological Advances and Partnerships

Nevertheless, Cardano continues to highlight its technological advancements. The network is at the forefront of scaling research and development and has recently partnered with a province in Argentina to promote crypto adoption. It will also undergo a significant hard fork in the second half of 2024.

Additionally, Input Output, the company behind Cardano, reports that developers are currently building 1,362 projects on the blockchain, which has processed approximately 92 million transactions.

A Future of Fair Reporting?

As Cardano pushes forward, the prospect of a decentralized media DAO could shift the narrative. This initiative ensures that technological strides and expansions are pretty represented, potentially changing how Cardano is perceived in the broader crypto community.