Cardano founder Charles Hoskinson fought back against critics who were labeled by Cardano as “Ghost Chain.”
The founder of Cardano has responded to reports from the American Business Magazine Fast Company, and is responsible for up to $250 million and over $3.2 trillion in artificial transactions per year, according to a new survey published by Cornell University University’s Preprint Server Arxiv. According to the report, some crypto projects have inflated numbers and created non-existent hype.
That real cardano ghost chine. Chains with fake numbers = VC darling, mass adoption, world change https://t.co/9pyljkgdk0
– Charles Hoskinson (@iohk_charles) March 21, 2025
Hoskinson responded to the report, saying, “Cardano’s real number = ghost chain. Chains with fake numbers = VC darling, mass adoption, world change.”
Despite being called the “ghost chain,” Cardano continues to grow significantly and adopt. Hoskinson argues that Cardano’s development is based on authentic user activity rather than fake trading volumes.
Cardano continues to grow
According to the latest Cardano development update shared by input and output, Cardano’s ecosystem is growing, with 1,989 projects currently being built on the network. The number of delegated wallets has risen to 1.328 billion, with staking activity increasing by 0.07% since last week.
Native token issuance reached 1,072 million, with a token policy of 210,662, representing an increase of 0.14% over the previous week.
Smart contract adoption is stable, with 129,374 Plutus scripts and 5,691 Aiken scripts being deployed.
The volume of transactions continued to increase, reaching 107.69 million transactions, an increase of 0.16% from the previous week. Participation in governance remains robust, with 1,217 Dreps, of which 923 are active, contributing to decentralized decision-making.
Race wallets improve their functionality by becoming a multi-chine that starts with Bitcoin. This allows race users to store, manage and interact with Bitcoin from their wallets. This step will improve Web3 interoperability, position the race and support the growth of Bitcoin Layer 2 protocols and distributed finance (DEFI).
This week, Coinbase Derivatives submitted to CFTC to self-certify Cardano futures, and Amina Bank launched its Cardano Staking Service.
