Charles Hoskinson Faces Criticism for CS from 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.

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.

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.

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.

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