Charles Hoskinson, the founder of the IOG company that stands behind the creation of the Cardano proof-of-stake blockchain, has published a statement on the upcoming game-changer Mithril upgrade that is expected to launch this year.

He also responded to a Cardano critic who called ADA an s-coin and accused Hoskinson of being a scammer.

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Hoskinson's Mithril message to community

Mithril’s goal is to help increase the scalability of the Cardano network. It will allow users to get away from the necessity for Applications to run full nodes and having to individually validate each transaction on the Cardano chain.

Besides, Mithril will create a more decentralized and secure environment in order to minimize the risk of centralization and ensure the integrity of the whole network.

Charles Hoskinson reminded the Cardano community about the goal of the approaching crucial upgrade: “You know use light clients everywhere is basically the goal of Mithril.” He also stated that he feels pride in having “already a 2 year advantage on certain competition.”

You know use light clients everywhere is basically the goal of Mithril. It's pretty cool that we have already a 2 year advantage on certain competition

— Charles Hoskinson (@IOHK_Charles) July 12, 2024

Cardano founder responds to ADA critic

Charles Hoskinson responded to a critic who accused him of being a scammer who made an s-coin to capitalize on it. X user who goes under a pseudonym @sunnydecree with more than 90,000 followers commented under Hoskinson's post.

The commentator stated that Cardano’s native coin ADA is “an s-coin with zero value” that was dumped by Hoskinson on easy-to-deceive investors. He then went on to accuse Hoskinson of making enough fiat money on selling ADA to “buy a farm and fly private jets.”

pic.twitter.com/8lmR1trVqX

— Charles Hoskinson (@IOHK_Charles) July 12, 2024

Charles Hoskinson hit back at the critic in a relaxed manner, using a cartoon extract.