Cardano's Future Hangs in Balance as Founder Proposes Radical Split

Cardano's founder Charles Hoskinson has proposed a radical solution to the network's problems: splitting the blockchain into two separate entities. This move would be triggered by proof of burn if the existing ecosystem cannot change its funding and commercialization methods.

TapTools, one of Cardano's most widely used analytics and infrastructure platforms, announced its shutdown due to financial difficulties and lack of key staff. Hoskinson responded with a long statement outlining the challenges facing the network, including limited financial activity and governance issues.

The Cardano founder accused parts of the community of creating a hostile environment for builders and suggested that the network needs a change in leadership, strategy, and funding mechanisms to recover from its decline. He also hinted at the possibility of launching a new blockchain with proof of burn, which would leave behind those who oppose it.