• 23 July, 2024
News

Charles Hoskinson Addresses the Community’s Concern Over Cardano KYC

Charles Hoskinson, the inventor of Cardano as well as IOHK, recently took part in a Twitter conversation about the contentious issue of adding support for know-your-customer (KYC) on the first layer of the Cardano blockchain.

According to Hoskinson’s argument, a decentralized protocol will have users, some of whom will be controlled and some of whom will not, who will create software for their particular requirements. 

The discussion highlights the continuous contrast between those who feel regulation is required for mass adoption and those who emphasize decentralization and privacy.

In a related development, the inventor of Cardano has also commented on the statement given by Gary Gensler of the SEC on CNBC about the current state of the cryptocurrency staking market. According to Hoskinson, there is no way to officially register with the SEC or comply with the regulations regarding crypto staking.

He also stated that what the chair of the Securities and Exchange Commission (SEC) claimed about all cryptocurrency exchanges being able to easily register their staking program by filling out a form on the SEC’s website is a lie and that individuals can spend millions of dollars and years of their time on the process without ever receiving answers.

As for Cardano, the network has been doing really well. On February 10th, it published the most recent edition of its weekly report, which discussed the significant changes that had occurred on the network and presented its most recent data. 

The overall number of transactions hit 60.9 million, while the number of native tokens reached 7.72 million. In addition, the total number of projects that are now under construction on the network has surpassed 1200, while the total number of projects that have been launched on Cardano has stayed at 116.

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