Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Hoskinson Draws Parallel Between Mt.Gox Crash and Ardana Halt

Cryptocurrency Nov 25, 2022 02:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Hoskinson Draws Parallel Between Mt.Gox Crash and Ardana Halt
 
BTC/USD
+0.84%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ADA/USD
+2.00%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

  • Hoskinson tweeted in response to an analyst’s comment that it is impossible to build a stablecoin on Cardano.
  • The tweet was a response to Ardana’s announcement that the company had decided to halt developments.
  • Hoskinson said that the analyst’s claim is equivalent to Mark Karpeles’ statement against Bitcoin for the fall of Mt.Gox.

Charles Hoskinson, the American entrepreneur and the co-founder of Input Output Global tweeted mentioning a technical analyst, who commented that it is not possible to build a stable coin on the Cardano ecosystem. Hoskinson stated that the analyst’s response to Ardana’s decision to halt developments reminded him of Mark Karpeles who blamed Bitcoin for Mt.Gox.

In 2019, Mark Karpeles, the former Chief of the fallen Mt.Gox Bitcoin exchange, had been found guilty of conducting some illegal activities within the platform. However, he reiterated his innocence and put on the blame on Bitcoin for the whole collapse of Mt.Gox.

However, the security and the stability of the exchange had made it evident that the fall of a platform that works under the umbrella blockchain cannot be directed toward the drawback of the blockchain.

Currently, Ardana, the stablecoin ecosystem and decentralized finance built on Cardano announced the platform’s decision to halt developments regarding funding and project timeline uncertainties. The company added that the builders could continue working as their “code will remain open source.”

The company added that it had been difficult for them to maintain the funding of infrastructure and security:

“Development on Cardano has been difficult with a lot of funding going into tooling, infrastructure, and security. This alongside the uncertainty around development completion has led to the best course of action being halting the development of dUSD.”

In response to the announcement, Duo Nine, an analyst expressed his views on the difficulty of building a Stablecoin on the Cardano ecosystem relating to the fall of Ardana, which made Hoskinson compare it with Karpeles’ words against Bitcoin.

The post Hoskinson Draws Parallel Between Mt.Gox Crash and Ardana Halt appeared first on Coin Edition.

See original on CoinEdition

Hoskinson Draws Parallel Between Mt.Gox Crash and Ardana Halt
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Stephen Fa
Stephen Fa Nov 25, 2022 3:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Every stablecoin involves third party risk.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email