Charles Hoskinson Debunks Claim Cardano is Security


  • The inventor of Cardano, Charles Hoskinson, refuted Michael Saylor’s claim that ADA provides security
  • Saylor allegedly embraced Vayes’ viewpoint in some of his utterances, according to Hoskinson.
  • According to Cardano’s creator, ADA money is more decentralized than Bitcoin. He also asserted that Cardano is more beneficial than Bitcoin.

Charles Hoskinson, the creator of Cardano, has reacted to Michael Saylor, the CEO of MicroStrategy, who asserted that ADA is security. On July 15, Hoskinson suggested during an Ask Me Anything (AMA) session that Michael Saylor might be likened to Tone Vayes given the state of the market. According to Michael Saylor, the native coin of the Proof-of-Stake (PoS) blockchain Cardano, ADA, is security.

Vayes rose to prominence in the cryptocurrency sector by decrying all digital assets other than Bitcoin as scams. Hoskinson claims that Saylor has adopted Vayes’ perspective in some of his statements.

The ADA currency, according to the founder of Cardano, is more decentralized than Bitcoin. In addition, he said that Cardano is more useful than Bitcoin. Hoskinson asserts that BTC’s primary use is as a store of value.

According to Hoskinson, those who have been purchasing ADA have done so for a variety of initiatives, not just to speculate, as many people do with Bitcoin. He questioned why Saylor would refuse to classify his preferred coin as security while labeling a crypto asset with greater use cases than Bitcoin.

Hoskinson asserts that it would be ineffective to debate Saylor about ADA since Bitcoin maximalists are “the most unpleasant, nasty, and useless individuals to interact with.” The creator of Cardano cautioned that Saylor might go bankrupt if Bitcoin doesn’t reach its prior highs.

In one of his most recent interviews, Saylor claimed that digital assets that have undergone hard forks and initial coin offerings are securities. Saylor contends that many assets, including Ethereum, should be categorized as securities.

A well-known and outspoken proponent of Bitcoin is Michael Saylor. Deep into the crypto winter, his company MicroStrategy added to its purchase of the asset.