Charles Hoskinson responds to critics who say “Cardano is a religion without tech”.

Charles Hoskison, the head of IOG, the company that built the Cardano proof-of-stake blockchain, took to Twitter to respond to critics who say that Cardano has missed the technology part, offering only religion to the community.

“Big investors” say they don’t even consider Cardano as an investment option.

“Cardano is only a religion, it has no technology.”

Recently, several experts came together in the “Crypto Banter” podcast (Ryan Selkis, founder of Messari, Haseeb Qureshi, managing partner at Dragonfly Capital, and Avikal Garg – managing partner at Electric Capital, serial entrepreneur and angel investor). The podcast was hosted by CNBC crypto trader Ran Neuner, founder of “Crypto Banter”.

In a video posted on Twitter by user @StakeWithPride Haseeb Qureshi, “all big smart money investors” don’t care about Cardano. “They don’t spend time on it, they don’t investigate.”

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He shared his belief that crypto is a “combination of technology and religion” considering why these people don’t think about the larger proof-of-stake blockchain and the native ADA. Any crypto should have both, Qureshi said.

“Cardano has religion without technology,” the host said, agreeing with him. Afterwards, Ran Nunner shared that he believes that unlike Ethereum and Solana, Cardano and Charles Hoskinson have taken a slow approach to building their blockchain in a deep and academic way. So “we are very early in the race,” he said.

However, the concern about Cardano is that it does not see much development activity on this chain or much venture capital money in it. He also stated that he doesn’t see many projects being built on Cardano.

Hoskinson posted the response

Cardano’s founder posted a sarcastic tweet in response to that video, saying that Cardano is a religion without technology, so all dev teams should pack their bags and probably close all academic research centers and fire hundreds of IT engineers.

So there is a Gual Institute. All we got here is religion. No technology. Pack your bags. Let’s buy some clothes. Need some volunteers for bulk kool-aid orders. We could close all those academic research centers and fire hundreds of engineers there. https://t.co/hMhpsAExBN

— Charles Hoskinson (@IOHK_Charles) August 5, 2022

Whales bought $138 million in ADA

As previously covered by U.Today, the shark and whale crypto addresses bought ADA worth an astonishing $138 million after the main price crash in mid-June. It was purchased by ADA for around $80 million in early July.

The Santiment agency believes that if this trend continues in August, the situation could be “exciting”.