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Cardano’s founder Charles Hoskinson lately addressed claims that Cardano is a “ghost chain,” which the community opponents name it to reference a drop in NFT gross sales.
Nonetheless, Hoskinson laughed it off, making enjoyable of the claims and the moniker.
Cardano is just not a ghost chain, and right here is why
“Ghost Chain” is a reputation usually used to explain a blockchain with little to no exercise. With a drop in NFT gross sales, some have began referring to Cardano (ADA) as such, however the venture’s founder responded by sharing a cartoon gif of an individual dancing beneath a white sheet, impersonating a ghost.
Ghostchain gonna Ghost https://t.co/eWo4Z0hXP6 pic.twitter.com/w1tBvjtByb
— Charles Hoskinson (@IOHK_Charles) August 1, 2023
His solely remark was: “Ghostchain gonna Ghost,” exhibiting that he finds the entire scenario amusing.
On a extra critical observe, he additionally reposted a tweet by TapTools, which has listed quite a lot of arguments towards the claims that Cardano is seeing no exercise.
GHOST CHAIN MYTH DEBUNKED
There is a sure fable circulating throughout the cryptosphere, a story spun about #Cardano being a ‘ghost chain’. At present, we stand to problem and dispel this narrative, with irrefutable information.
To start out with, the Cardano blockchain has already processed…
— TapTools (@TapTools) July 31, 2023
In keeping with the tweet, Cardano has seen over 72.5 million transactions processed, which serves to point out that the blockchain is seeing virtually fixed exercise.
The put up additionally argues that Cardano acts as a house for over 8.6 million native property, which is actually not a determine one would affiliate with a ghost chain.
TapTools additionally highlighted the exponential development of the community’s TVL, which exceeded $185 million, stating that this can be a clear sign of accelerating confidence and engagement from the group. All of this instantly contradicts the ghost chain narrative, in keeping with the put up.
The person additional identified that the variety of ADA wallets has exceeded 4.2 million and continues to develop day by day.
In keeping with them, this reveals the heartbeat of the Cardano group, which is simply one other technique to present that Cardano is something however a ghost city.
The concluded,
However past the stats, what really units Cardano aside is the energy of its group. United by shared values and a imaginative and prescient of a decentralized future, the Cardano group is vibrant, engaged, and rising. Their ardour and perception are the true driving power behind Cardano’s success.
Cardano growth continues even when the worth stagnates
Cardano can also be advancing when it comes to growth. Just lately, the venture launched its long-anticipated stake-based signature protocol, Mithril.
Mithril is an revolutionary protocol that intends to extend node sync effectivity and enhance the decentralization of Cardano’s blockchain.
By way of market cap, Cardano presently sits because the Eighth-largest cryptocurrency, with over $10.6 billion. Its value did see successful lately, possible brought on by the drop within the Bitcoin value.
On the time of writing, it sits at $0.3048, with a 2.68% drop within the final 24 hours. On the plus aspect, Cardano remains to be 0.17% greater than it was per week in the past, and its 24h quantity is at $244.6 million.
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