Cardano Founder Charles Hoskinson Opposes Large-Scale Destruction of ADA Tokens
Publication Time:2024-09-06 18:57:08
In a recent social media post, Cardano founder Charles Hoskinson publicly opposed the destruction of more than 1.5 billion ADA tokens. These assets were not pre-minted but generated through block production and transactions. Hoskinson pointed out that destroying these assets would be seen as stealing from stake pool operators (SPOs) and ADA holders, which is inconsistent with their contributions. This proposal has sparked controversy within the Cardano community, especially after the completion of the first phase of the Alonzo hard fork on September 1st. Some members support token destruction to boost the price of ADA, while others are concerned about potential harm. Jaromír Tesař, a representative of Cardano's decentralization, also expressed concerns about asset destruction, calling it a 'terrible mistake.' Instead, he suggested that these funds should be used more effectively to support the development of Cardano.
Blockchain
Cardano
Destruction
Charles Hoskinson
ADA Token