Charles Hoskinson Warns of Massive FUD Storm in Run-Up to Alonzo Launch, Says Same Was with Shelley

Charles Hoskinson Warns of Massive FUD Storm in Run-Up to Alonzo Launch, Says Same Was with Shelley

Charles Hoskinson, the founder and CEO of Input Output Global (IOG) and founder of Cardano, has taken to Twitter to comment on the numerous posts of “fear, uncertainty and doubt” (FUD) on Twitter, Reddit and other social media, that Cardano is facing at the moment as it is about to roll out the Alonzo upgrade.

This is not the first time the Cardano blockchain has faced this large amount of criticism and FUD, Hoskinson added – last year it also happened before the launch of the Shelley upgrade, the one that introduced Proof-of-Stake to the network.

“Massive FUD storm underway”

Hoskinson has tweeted that he does not find the current “massive FUD underway” surprising and has been expecting it. His explanation was that the Alonzo upgrade (as, perhaps, other major upgrades on Cardano as this most popular Proof-of-Stake blockchain continues to develop) belongs to the sort of things that people “don’t understand of feel threatened by”.

As a reminder, one of those who has been massively attacking Cardano and the recently launched testnet with the smart contract feature has been co-founder of and a prominent member of the Ethereum community Anthony Sassano.

On Sunday, he stated that the Cardano blockchain is broken. He posted screenshots shared on Reddit – they show that the recently released Minswap swap exchange app has stumbled over several big issues. It has been basically useless for users so far since Cardano's EUTXO can now conduct only one single transaction in each block.

However, the IOHK team has published a lengthy thread on Twitter, explaining what has happened and why the complaints Anthony Sassano and other users are “noise and FUD”.

As expected, there is a massive FUD storm underway. We saw the same with Shelley last year. It's nothing new. Just people wanting to burn down what they don't understand or feel threatened by. September 12th is a big day, but just a day on a long journey we are all on together.— Charles Hoskinson (@IOHK_Charles) September 7, 2021

64% of pools are Alonzo-ready

As reported by U.Today on Monday, the IOHK team shared data provided by PoolTool, saying that sixty-four percent of stake pools have been upgraded to the 1.29.0 Alonzo node.

The expected number of pools to upgrade by September 6 was 70 percent, so the target was almost reached. The IOHK team also expects that by the day of the Alonzo rollout (September 12), at least 80 percent of Cardano stake pools will be ready for the launch of the hard fork.

As the testnet for smart contracts before the Alonzo release was launched on September 1, the following day Cardano’s native currency ADA soared to the new all-time high of $3. The coin showed a massive rise of a whopping 1,567 percent since the start of 2021.