Charles Hoskinson: “We don't lock ADA coins in steakage”

Charles Hoskinson, founder of the Cardano blockchain, tried to refute rumors that ADA coins are locked in steaking for the sake of limiting sales and inflating the market capitalization of this cryptocurrency.

Hoskinson assured that the Cardano blockchain offers non-custodial staking, allowing ADA holders to freely sell coins at any time. ADA holders can be rewarded for assets placed in the steaking while retaining full control over them, the businessman asserted. Other networks that use the Proof-of-Stake consensus algorithm require users to lock up crypto assets for a fixed period, Hoskinson emphasized.

The Cardano founder said that there is no manipulation of ADA's market capitalization through the staking mechanism. ADA's market capitalization is determined by the total coin supply and market rate - with no forced restrictions on steaking or sales, the blockchain creator asserted. ADA's total capitalization now reaches $11.9 billion.

“ADA coins are never locked in steaking, and the market capitalization of the project is independent of any form of forced steaking. Coins are never held by a third party to increase user security. Cardano allows participants to take ADA out of steaking and sell at any time, providing flexibility and liquidity,” the businessman said.

Hoskinson recently criticized Bitcoin's blockchain for its rigidity and lack of flexibility. According to Hoskinson, the unwillingness to innovate will be the cause of Bitcoin's collapse. #adacoin #bitcoin☀️