According to its founder Charles Hoskinson, a recent update to the Chang demanding fork in September positioned the Cardano (ADA) blockchain as a top player in the cryptocurrency ecosystem.

Hoskinson, also known for his role in co-founding Ethereum (ETH), has consistently done this praised Cardano’s progress over the past month after its latest update, confirming its superiority over the largest cryptocurrencies in the market, such as Bitcoin (BTC), in terms of decentralization.

Hoskinson states that Cardano remains the leader

In recent post on social media platform X (formerly Twitter), Hoskinson confirmed Cardano’s status, claiming that it is “still number 1.” This statement follows his remarks at the Token2049 conference in Singapore, where he discussed Cardano’s novel network governance model.

Hoskinson emphasized that this model “redistributes power” from a select few to the broader community, referring to a key problem he sees with Ethereum’s “centralized structure.”

Hoskinson pointed out that Ethereum’s dependence on its founder, Vitalik Buterin, creates a “bottleneck for innovation,” while the Chang Cardano demanding fork established a framework that ensures continued development regardless of individual commitment.

Hoskinson further highlighted how Delegated Representatives (DReps) can now contact each other, vote and exploit a blockchain-based governance system for regular ratification network action plan. He stated emphatically, “Charles, dead or alive, doesn’t matter. We will innovate every day.”

Additionally, the Cardano blockchain has shown significant growth in key metrics, boasting over 74,000 Plutus scripts and the creation of 1.3 million delegated wallets over the past seven years.

In addition, approximately 1,373 projects were launched on the platform, as highlighted in the commemorative document video by Output Output Global (IOG), the development company behind the blockchain.

The final move to decentralized management?

In his latest social media update, Hoskinson also mentioned Cardano’s progress in decentralized governance, suggesting that the network is on the verge of achieving some remarkable milestones with its upcoming features.

Looking to the future, Cardano aims to replace the initial Genesis keys that have played a key role in running the network since its inception. This transition will be supported by increased participation stake pool operators (SPO) and DReps, as well as the establishment of the Constitutional Committee (CC).

The next steps towards achieving a fully decentralized management model include ensuring that bid nodes meet operational thresholds and that decentralized applications (DApps) are nearing completion.

The final transition to the Voltaire era, meaning a fully self-sustaining blockchain, will occur with the final exploit of the Genesis keys, triggering the next demanding fork. However, further announcements and dates for these changes have not yet been published by IOG or the blockchain founder.

At the time of writing, Cardano’s native token ADA is trading at $0.352, registering a 2% price enhance in the last 24 hours.

Featured image from DALL-E, chart from TradingView.com