Coin Edition -
- Contingent staking is an optional feature, Charles Hoskinson reiterates to the Cardano community.
- The Cardano community remains polarized between being pro-CS and anti-CS.
- The CS proposal was set forth by Hoskinson following the SEC’s $30M settlement with crypto exchange Kraken.
On February 21, Charles Hoskinson reaffirmed to the Cardano community that Contingent Staking is an optional feature. Hoskinson clarified that the feature wasn’t even at the CIP stage while praising the maturity of the Cardano community towards handling discourse.
And the people who hate Cardano call it a cult. Seems pretty grown up to me. CS is an optional hypothetical feature that isn't even at the CIP stage, and we have this rhetoric discounting the last seven years of my life. It's a bittersweet thing watching an ecosystem grow https://t.co/A8XJBMiUBF— Charles Hoskinson (@IOHK_Charles) February 21, 2023
Notably, Hoskinson acknowledged the Cardano ecosystem’s bittersweet growth for being mature enough to disagree with a co-founder while also feeling personally affected by comments made about his role.
In detail, Hoskinson’s tweet was in response to a Cardano community member publicly disparaging Hoskinson’s role as a “liability.” The community member, @wuffet_barren, tweeted the following in support of @cardano_whale who announced a Twitter hiatus/break following the Contingent Staking controversy.
I 'd pick @cardano_whale to speak for the vision of #cardano and represent the #CardanoCommunity over @IOHK_Charles every time.The former is an asset, the latter is a liability at this point. https://t.co/crq2KXSPPh— Barren Wuffett (@wuffett_barren) February 20, 2023
Charles Hoskinson proposed the idea of Contingent Staking as a way to help the cryptocurrency market align with current regulatory requirements by the SEC. Specifically, the model was raised following the United States Securities Exchange Commission (SEC) reaching a settlement of $30M with crypto exchange Kraken for failing to register their platform’s staking operations.
However, the cryptocurrency community expressed criticism and opposition towards Hoskinson’s model. On February 16, Charles Hoskinson tweeted a thread addressing the comments and criticisms towards CS.
I'm still at a loss reading some of the comments on contingent staking. It's incredible how polarized some people have become to the extent that they can not understand a basic concept and continue to misrepresent it. (1/10)— Charles Hoskinson (@IOHK_Charles) February 16, 2023
The cryptocurrency community remains polarized about contingent staking. Some believe CS is a road toward risk tolerance and trusting regulatory bodies to protect investors. While some, like @cardano_whale, believe that implementing CS would allow governments to stifle and/or kill the cryptocurrency industry.
The post Charles Hoskinson Faces Criticism for CS from Cardano Community appeared first on Coin Edition.