Cardano’s Chang Upgrade to Boost ADA’s Superior Tech: Will the Price Hit $1?

• With Cardano receiving endless criticism and attacks from the larger crypto community, Charles Hoskinson is embracing the “man you love to hate” role.
• Cardano is celebrating 500 epochs, which equates to 2,500 days of uninterrupted operations on the mainnet.

Cardano is one of the pillars of the crypto industry. It is one of the oldest networks and has one of the top ten largest tokens. It has also pioneered decentralized technology that has pushed the boundaries of imagination and innovation in the sector. However, it remains one of the most criticized, mocked, and attacked projects in the entire space.

Founder Charles Hoskinson took to X recently to note that he has become used to being vilified in crypto circles as the Cardano hate piles on, especially from Bitcoin maximalists.

I guess I've lived long enough to get to the stage where apparently I'm the scapegoat for the ills of Cardano. What will you guys talk about after Chang? https://t.co/45dEdMATiN

— Charles Hoskinson (@IOHK_Charles) July 31, 2024

We have documented some of these attacks, including Cardano being lumped together with other less active networks as a zombie chain by Forbes, an accusation that Hoskinson and the entire community were quick to poke holes at and expose for the hollow defamation attempt it was.

But they keep coming. In May, influential crypto voice Justin Bons, the co-founder of Europe’s oldest crypto fund Cyber Capital, alleged that “ADA is extremely centralized, as this is uniquely hardcoded into the protocol. IOG controls 5 out of 7 keys & can unilaterally change anything!”

Once again, the ADA community quickly responded and offered data proving the accusations to be false. In this case, Bons had failed to mention that the genesis keys can’t change protocol rules as claimed and that only the stake pool operators can validate such major rule changes.

Despite the criticism, Cardano continues to grow. As one community member noted, the network hit 500 epochs—an epoch last five days on average. This means the network has been running uninterrupted on the mainnet for over 2,500 days, equal to 83 months or just under seven years.

Cardano is currently in epoch 500. An epoch lasts 5 days. This means that #Cardano has been running for more than 2500 days without network interruptions and restarts.

— Cardano YOD₳ (@JaromirTesar) August 1, 2024

To operate uninterrupted can’t be taken for granted in an era when some of the biggest projects have suffered outages. The most notable is Solana, which has had a number of outages—the most recent was in February and lasted nearly five hours. Avalanche also suffered a one-hour outage in the same month.

ADA trades at $0.3755, dipping 3.3% in the past day.

Despite dipping 9.5% in the past week, the token has maintained its market cap above $13.3 billion, which has enabled it to clinch the tenth spot, with its closest chasers, TRON and AVAX, dipping 8% and 14% in the past week. As we reported, the latter could drop even harder once the $250 million token unlock happens later this month.  The former’s rising domination in payments with USDT has failed to ignite a surge in its token price.