Cardano Foundation drama / Charles Hoskinson's letter to the community!

[stellarowl12]

So if yall don't know, Cardano project is supported by 3 different entities with different responsibilities: IOHK, Emurgo, and Cardano Foundation.

Apparently the Cardano Foundation side is not doing their job and is pretty slacking/not open with their use of ADA funds...

That's why Charles just wrote a blog post explaining the whole situation and IOHK/Emurgo's call for change and proposed course of action.

You can read it here: Letter by IOHK to community

I kinda like their transparency but it seems like a case of what happened to Tezos with their management in-fighting. Hopefully they can get over this and continue to build their ambitious project and deliver on their original vision!

 

[Adriaan Admin]

OMG! That certainly does sound as Tezos-like in-fighting! Thank goodness they structured it in a way that it wouldn't directly impact technological progress. But it is a shame that for now millions are tight up in an organization that seems to be benefiting only its board + family! Hopefully they will be able to bring back the foundation to function properly and bring its funds to its proper intention. But it is definitely something that this project will hopefully totally move away from: CEOs and centralization that can cause problems for the network.