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Cardano breaks transaction record, and Hoskinson confirms why ether proponents fear ADA

Cardano breaks transaction record, and Hoskinson confirms why ether proponents fear ADA

Cardano has reached the milestone of 20 million transactions without a single day of downtime. Charles Hoskinson, Cardano's founder, praises ISPO's innovative infrastructure. Hoskinson also stated that Cardano represents the best alternative to Ethereum, according to Zycrypto. Cardano founder Charles Hoskinson never fails to promote his brainchild and defend it from critics. Hoskinson recently noted that the blockchain network is experiencing a lot of innovation, highlighting its own Initial Share Pooling Infrastructure (ISPO).

He describes it as “a unique way to build support for a project”. His comment came after MELD, the Cardano-based DeFi banking protocol, successfully raised more than $1 billion in ADA through ISPO. ISPO –s the fundraising method used by Cardano. Simply put, ADA holders place their tokens in pools owned by the project team. ADA delegates will receive tokens provided by the project. The betting pool operators will then collect the ADA rewards to fund the projects. The benefits of this system are that by placing an ADA bid on facilities under construction, the community ultimately decides which facilities will be built. This model also helps encourage long-term investment and encourages demand for ADA.  

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