Cardano Founder Suggests Splitting Blockchain Amid Financial Struggles

Cardano, a popular blockchain network, has been facing challenges in supporting its DeFi ecosystem due to financial struggles. One of the main concerns is the lack of funding for infrastructure providers, exchanges, lending apps, and analytics platforms.

TapTools, an analytics platform used by over 1 million users on Cardano, announced its shutdown last week, citing financial difficulties as a major reason. This has raised fears that more DeFi apps will die due to the same reasons.

Charles Hoskinson, the founder of Cardano, has suggested splitting the blockchain into two separate entities - one for the 'builders' and another for the 'non-builders'. He believes this would allow the builders to focus on developing the network without being hindered by the non-builders who are more interested in criticizing than contributing.

Hoskinson argues that Cardano's governance system is flawed and unable to fund growth quickly enough. He claims that every person who tries to use the treasury for commercialization gets attacked, making it difficult to reach a two-thirds voting threshold required under the network's governance rules.