Valente Blasts Hoskinson Over 'Irrelevance' of Cardano

Lorenzo Valente, director of research at Ark Invest, has slammed Cardano founder Charles Hoskinson over his recent comments on Bitcoin.

Hoskinson argued that Bitcoin is 'frozen in time' and vulnerable to quantum computing threats, which could challenge its long-term dominance. He also claimed that Cardano's formal on-chain governance system is better equipped to handle such challenges.

In response, Valente criticized Hoskinson and the industry for still giving attention to Cardano despite its underwhelming market performance. The ADA token has fallen more than 3% in the past 24 hours, with a current price of $0.1633. Its market capitalization stands at approximately $5.96 billion.