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## Cardano’s Creator Rejects “Phantom Network” Assertions: The Actual Account
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Cardano’s originator, Charles Hoskinson, has retorted to detractors who name Cardano a “phantom network.”
Hoskinson was answering to an article in the American commercial publication *Fast Company*, which referenced a recent analysis released on Cornell University’s preprint server, arXiv. The analysis alleged that fewer than 500 individuals produce up to $250 million in earnings and over $3.2 trillion in false dealings each year. The article implied that certain crypto ventures exaggerate their figures to produce excitement where none is present.
Hoskinson addressed the article by stating: “Cardano with genuine figures = phantom network. Networks with fabricated figures = VC favorites, widespread acceptance, transforming the globe.”
Despite being labeled a “phantom network,” Cardano proceeds to attain considerable acceptance and expansion. Hoskinson maintains that Cardano’s advancement is founded on actual user behavior, not fabricated trading quantity.
## Cardano’s Sustained Expansion
According to the newest Cardano advancement update shared by Input Output, the Cardano environment is expanding, with 1,989 ventures presently being advanced on the network. The quantity of assigned wallets has risen to 1. Toncoin (TON) Value Forecast for March 26th
The staking process showed a small increase, reaching a total of 328 million, a 0.07% rise from the previous week. Native token production reached 10.72 million, with 210,662 token rules, up 0.14% from the previous month. Smart agreement applications remained constant, with 129,374 Plutus programs and 5,691 Aiken programs. Transaction volume continued its upward direction, reaching 107.69 million, a 0.16% rise compared to the prior week.
Governance involvement remained powerful, with 1,217 DReps, 923 of which were energetic, contributing to decentralized decision-making. The Lace wallet improved its multi-chain abilities by adding support for Bitcoin, allowing users to store, handle, and use Bitcoin directly from the wallet, a move that improves Web3 interoperability and positions Lace to support Bitcoin layer-2 protocols and decentralized finance growth.
This week, Coinbase Derivatives submitted a self-certification request to the U.S. Commodity Futures Trading Commission for Cardano futures, while AMINA Bank launched Cardano staking facilities.
