Cardano Founder Reveals Why He Owns No Public Crypto Addresses

Cardano Founder Justifies His Action

For a crypto leader that is the prominent face of the Cardano blockchain, having no public addresses might have drawn criticism from members of the community. However, justifying his decision to keep only private profiles, Hoskinson noted that he chose not to keep public addresses because of security reasons. 

advertisement

He buttressed his point noting that different people may choose to send money to the public addresses from a sanctioned country without his consent. He also believes that zealous senders may try to send him money from restricted channels like Tornado Cash, a situation that can notably cause his addresses to be blacklisted by the authorities.

The Cardano founder had to come out to clear the air because he was called out by a community member who pointed out that Ethereum co-founder Vitalik Buterin has a public wallet which can be attributed to the support for the blockchain network he represents. 

While Hoskinson has a good justification for his choice, he noted that the challenges that are associated with keeping a public wallet are one of the reasons why he prefers the concept of contingent settlement. Hoskinson’s clarification has been received by mixed reactions with more people wondering whether or not he has other plans in view for the contingent settlement he mentioned.

Benefits Associated with Public Addresses

Having a public address is not an uncommon thing for leaders in the digital currency ecosystem. Projects, especially memecoins that are looking to establish on the protocol often typically send a percentage of their tokens to a top leader’s public address to gain trust in the community.

Vitalik Buterin is one crypto founder that has enjoyed this benefit to a very great extent, with protocols sending as much as $1 billion in memecoins to his addresses in the height of the past bull season.

In an unusual manner, he donated these funds to charity back in 2021 as reported at the time by Coingape.

Comments

Post a Comment

Popular posts from this blog

French real estate company expands crypto payments offering 

Apsys, a France-based real estate company , has signed a partnership deal with local fintech Lyzi to enable customers to pay for purchases nationwide across all its shopping malls with crypto . Apsys, a company that owns, develops, and manages many real estate properties across France and Poland, has joined forces with Lyzi, a fintech and crypto payments solution provider. Through the partnership, customers who purchase goods and services at various Apsys shopping malls in France can pay with crypto. “Innovating and reinventing the customer experiences at Apsys locations is at the heart of challenges that drive us daily. We are therefore particularly happy today to be a pioneer in payment solutions, thanks to our partnership with Lyzi.” Manuel Tessier, Apsys asset management director general. To enjoy Apsys’ new offering , customers must first purchase the company ’s gift cards with crypto via the Lizy app. The gift cards will, in turn, be used for payment at Apsys malls. 
Read more

Crypto Analyst Discusses EOS’ EVM Launch After Talk With Rhett Pool

Youtube Channel Altcoin Daily posted a new video discussing the scheduled EVM launch by Layer 1 dApp platform, EOS. While the video states that many people would consider EOS a failure compared to what it could’ve been, the channel goes on about the platform’s 2023 comeback story. Altcoin Daily explains that EOS was created to prioritize dApp performance via faster transactions and lower gas fees. Moreover, it is more programming language friendly allowing developers to build applications using C++, Java, and Python. The channel adds, It [EOS] is a scalable version of Ethereum. Yet, they did sacrifice some decentralization. The video also highlights that EOSIO held the largest-ever initial coin offering (ICO) with over $4 billion in funds by selling one billion EOS in a year-long sale. However, the platform didn’t live up to the hype that the company behind EOS, Block.one, had promised its users, according to Altcoin Daily. After attending a conference with one of
Read more

0.1% Users Affected in the Atomic Wallet Exploit Is a Lie, Says Netizen

Atomic Wallet faced concerns and questions after a $35 million crypto heist. The company released an official statement highlighting swift actions, engagement of investigators, and cooperation with exchanges. No specific cause for the breach has been confirmed; investigation ongoing. After Atomic Wallet released its statement on the June 3rd event, concerns and questions were raised by the Twitter community regarding the recent $35 million crypto heist that brought the multi-currency platform into the spotlight for decentralized wallet security. June 3rd event Statement. To summarise, less than 0.1% of Atomic app users have been affected. Since then, no new cases have been reported. None of the possible issues are confirmed as potentially causing massive breaches, at least in the latest app versions. Builds are verified… pic.twitter.com/YTcOFpo3M3 — Atomic – Crypto Wallet (@AtomicWallet) June 21, 2023 In the aftermath of the incident, Atomic Wallet twee
Read more