• Charles Hoskinson has been criticised for his idea of Contingent Staking on the Cardano blockchain.
• This involves improving contractual agreements within the blockchain and addressing operations within a regulatory environment.
• ADA’s price managed to achieve a new 2023 high at $0.42 during Wednesday’s rally, before experiencing a slight dip in the last 24 hours due to profit-taking.
Controversial Idea of Contingent Staking
Charles Hoskinson is no stranger to criticism when it comes to matters related to the Cardano blockchain. His latest concept, contingent staking, has met with mixed reactions from the community, as some have expressed their lack of understanding about its possible implications. The Cardano CEO reintroduced this concept two days ago and clarified that it would be used as an additional safety mechanism for ISPOs (Initial Smart Pool Offering) in a contractual setting, rather than replacing normal staking or introducing KYC measures into the network.
ADA Achieves New Highs
The bullish performance of ADA so far this week saw its price reach a new 2023 high at $0.42 during Wednesday’s (15 February) rally. Although there was some profit-taking after this week’s rally causing ADA’s price to dip slightly in the last 24 hours, overall investor sentiment remains positive with minimal signs of bearish retracement so far. Furthermore, ADA’s market cap in terms of Bitcoin has also increased over time, indicating growing demand for the altcoin among investors and traders alike.
Cardano Profit Calculator
In order to keep track of potential profits from staking one’s ADA tokens on Cardano’s network, users can make use of the Cardano Profit Calculator which allows them to input their stake amount and receive estimated returns over time based on current network parameters such as network total supply, block reward distributions etc. This calculator serves as a useful tool for investors who are looking to maximize their returns from staking without having to monitor prices continuously or manually calculate potential profits from their transactions and holdings on the platform.
What Could Contingent Staking Mean?
The idea behind contingent staking is that it could provide an extra layer of security when it comes to contractual agreements within a regulatory setting by introducing additional checks or safeguards against risks associated with ISPOs on Cardano’s network. If successfully implemented, this could potentially lead to greater trust amongst participants since there will be more assurance that investments are safe and secure even if certain conditions are not met or expectations are not realized upon execution of smart contracts deployed on Cardano’s platform.
Conclusion
It remains unclear how Charles Hoskinson’s idea for contingent staking will pan out in terms of actual implementation and whether it will prove successful in providing an extra layer of security for ISPOs conducted on Cardano’s network given its still conceptual stage at present time. Nevertheless, with increasing demand for ADA amongst traders and investors alike indicated through its market cap growth against Bitcoin as well as rising highs achieved throughout this week – one can only wonder what other surprises lie ahead for holders/stakers/investors alike when it comes to Cardano’s future development plans!
