Intersect, a prominent player in the Cardano ecosystem, has reportedly decided to temporarily halt accepting payments in ADA, the native cryptocurrency of the Cardano blockchain. This unexpected development was brought to light by a member of the Cardano community who shared an image capture of the announcement on the X platform on May 30.
The news came as a surprise to Charles Hoskinson, the founder of Cardano and a member of Intersect. Hoskinson expressed his astonishment and concern regarding this decision. As a member of Intersect, he vowed to immediately seek an explanation from the council.
“I am deeply worried and surprised by this. As a member of Intersect, I will promptly request an explanation from the board,” Hoskinson wrote in a tweet on May 31, 2024.
This decision by Intersect initially limited payment options to fiat currencies, leading to confusion and frustration among the Cardano community. Intersect is known for its commitment to the continuous development and future growth of the Cardano blockchain, which involves community-led governance and open-source development.
In a recent revelation, Charles Hoskinson captured the attention of the crypto community with the introduction of Ouroboros Genesis, a significant upgrade to the blockchain consensus protocol of Cardano. Hoskinson shared a suggestive GIF to express the community’s excitement for the upcoming phase of the platform, symbolizing a renewal that promises to enhance and scale the network effectively.
The evolution of the Ouroboros protocol has been a journey of continuous improvement, starting with Ouroboros Classic, followed by Ouroboros BFT, and later Ouroboros Praos. Each version has brought crucial enhancements, and now, Genesis is set to consolidate these advancements. This latest design primarily focuses on enhancing node security, which is vital for new participants or those returning to the network after a hiatus.
Disclaimer: The opinions expressed in this article, whether by the author or individuals mentioned, are solely for informational purposes and should not be considered as financial, investment, or any other form of advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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