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Cardano [ADA]’s Charles Hoskinson: “Unlike Elon Musk I need to go through a lot to get something approved”

Akash Anand



Cardano [ADA]'s Charles Hoskinson: "Unlike Elon Musk I need to go through a lot to get something approved"
Source: Unsplash

In the latest Ask Me Anything [AMA] conducted by Charles Hoskinson, the Co-Founder of IOHK went on to speak about how peer review systems are important in developing a network and that it has to go hand in hand with speed and developmental accuracy.

The AMA also threw light on the lifestyle and social media patterns that Hoskinson follows, also citing his recent Twitter exodus. The Co-Founder had left the social media platform after a maelstrom of tweets and trolls. He had stated:

“I have very limited time. I run an international company. We operate in 16 countries… I travel dozens of places every single year and if I have a simple question for a company, a very small company of just a few people whom I assume … run their Twitter feed and I get a response where an article is written that I’m a monster, if there’s a top-rated cryptocurrency Reddit post about how bad of an actor I am… What’s the value of this platform.”

He also went on to speak about how some developers considered peer review systems as a waste of time whereas he regarded them as a crux function in the development of any new software. Hoskinson went on to say that the different stages in a peer review system ensured that any mistake that is present even in the primary stages can be rectified and then presented properly.

He also added that he was not the sole proprietor of ideas and that he could not take the final decisions without going through the other Co-Founder, Jeremy Wood.

Charles Hoskinson made it clear that at IOHK, the decisions were not taken by just one person, hinting at Elon Musk, and emphasized that his organization follows the policy of discussion on repeated layers.

He said:

“As an entrepreneur, it is super important to have people who can say no to you.”

The Co-Founder further stated that the focus now is on building protocols rather than products, giving the analogy that protocols will stay for generations to come while application layer softwares have an expiry date. Hoskinson said:

“Protocols don’t come along very often, so why should we constrain something that will be around for decades to the same forces and factors [that are applied] with a cellphone app.”

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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.


GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla



GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.

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