Charles Hoskinson gave a sarcastic response to comments about Cardano being more of a religious community. 

In a recent interview, Haseeb Qureshi, the Managing Partner of Dragonfly Capital, disclosed the reason why some of the big players in the cryptocurrency space are disassociating themselves from Cardano. 

Quereshi said “super rich and powerful and extremely attractive people” do not think about investing in Cardano because the project has only religion and no technology. 

“Every investor understands that cryptocurrency is a combination of technology and religion. You have to have both. You can’t just have one,” Quereshi was quoted as saying. 

He said while Cardano has religion, the popular crypto project does not have the necessary technology to attract rich investors. 

“The problem is that if it has only religion without technology, you will become more of a religious community. And technologists are very turned off by that,” he added. 

The reason “investors” aka “super rich and powerful and extremely attractive people” don’t think about Cardano is because it has religion but no technology.

Full discussion (and disclaimer ) with @cryptomanran @twobitidiot @hosseeb https://t.co/SNYtntrn5a

cc: @IOHK_Charles pic.twitter.com/SJsvllco1y

— St₳kΣ with Pride Ardana & Hosky ISPO (@StakeWithPride) August 5, 2022

Cardano Enthusiasts Blast Quereshi

Quereshi’s derogatory comments about Cardano angered supporters of the project, who took to the comment section on Twitter to air their grievances. 

A major Cardano influencer who goes by the pseudonym ADA Whale was among the people who bashed Quereshi for saying Cardano has only religion without technology. 

Who the fk is the bottom left clown? https://t.co/BnZJWzMeuV

— ADA whale (@cardano_whale) August 5, 2022

ADA Whale shared an old tweet from the Cardano development team, Input Output Global (IOG), showing the technological roadmap of the blockchain. 

CaRdANo Has No TeChnoLoGy

TAG HIM. This unbearable bullshit has to stop https://t.co/68vtDHnL86

— ADA whale (@cardano_whale) August 5, 2022

Cardano Founder Reaction

While many Cardano enthusiasts openly blasted Quereshi for the comment, Charles Hoskinson, Cardano’s founder, responded with a caustic response. 

Hoskinson noted that since Cardano only has religion, they should pack up and leave the project, shut down all research academies, fire all engineers, and buy some religious robes while leaving. 

“Need some volunteers for pricing bulk kool-aid orders,” Hoskinson said, adding: “We might as well shut down all those academic research centers and fire hundreds of engineers while we are at it.” 

So there you have it folks. We only got religion here. No tech. Pack up your bags. Let’s buy some robes. Need some volunteers for pricing bulk kool-aid orders. We might as well shut down all those academic research centers and fire the hundreds of engineers while we are at it. https://t.co/hMhpsAExBN

— Charles Hoskinson (@IOHK_Charles) August 5, 2022

Meanwhile, Hoskinson has publicly slammed venture capitalists for not supporting Cardano like other projects. 

However, he noted that since VCs do not want to give Cardano the needed support to push the project to greater heights, the community will rally around to get things done themselves.  

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According to Dragonfly research, Solana’s throughput outperformed the leading EVM chain by a wide margin, leading researchers to predict that competing layer-1 chains will outperform EVM chains. In a Dragonfly Research experiment that compared the performance of six blockchains by testing the capacity of automated market makers (AMMs) on each, Solana’s Orca decentralized exchange (DEX) emerged as the clear winner in terms of trades per second.

It was capable of 273.34 trades per second and generated a new block every 590 milliseconds.

With 194.6 trades per second on PancakeSwap, BNB Smart Chain was not far behind, followed by Polygon, Avalanche, Celo (CELO), and, finally, Ethereum.

According to a blog post by researcher “GM,” while there is a rich ecosystem built on Ethereum Virtual Machine (EVM) compatible chains, the results show that “if you want really high performance now, you have to look outside the EVM space.” An earlier version of the post, which has since been removed, implied that users would eventually have to “abandon the EVM.”

Dragonfly Research is Dragonfly Capital’s research arm, and its portfolio page shows that it has invested in Celo, Avalanche, Cosmos, and Near, all of which are mentioned in the report. EVM chains are blockchains that work with Ethereum’s tooling. They frequently contribute to the Ethereum network‘s scalability.

On March 2, the experiment’s findings were made public. It was an attempt to compare blockchain throughput by counting the number of swaps that could be made on native automated market makers per block. AMMs are decentralized exchanges that facilitate non-custodial token swaps on-chain, such as Uniswap and PancakeSwap.

The basic question GM attempted to answer was, “How many trades per second would clear if you filled an entire block with Uniswap v2-style trades?” Because Uniswap v2 is the dominant DEX with $1.6 billion in 7-day transaction volume, it was used as the benchmark. According to the report, the benchmark was 18.38 transactions per second with 13.2 seconds per new block. GM also stated that, while it is not a perfect benchmark, it is “illustrative.”

Also Read: Best Crypto Forecast Site: KyberSwap DEX Starts Launching On Layer-2 Network Arbitrum

To determine the current limit of their capacity, the leading DEX on each blockchain tested was spammed with token swaps on the most liquid pairs. Rollup scaling was not tested on layer-1 chains because rollups can be used on any chain.

While the five EVM chains in the experiment could be tested in the same way, Solana necessitated a different approach, which GM detailed in a subsequent blog post.

GM stated that none of the blockchains in the test were being used to their full potential, and that they expect “all of the major L1s to improve in their performance over time.”

Although the report’s findings demonstrated Solana’s superior performance, supporters of decentralization point to other issues on Solana.

Solana has also experienced service outages, raising concerns about the network’s security and the dependability of the ecosystem’s applications. GM urged readers to “do the math yourself” to confirm or refute his findings. He also mentioned that because blockchain optimizations happen so quickly, the results of introducing a new optimization on any chain may vary.

He also concluded that the performance difference between Ethereum and Solana was limited to a maximum of 25x, demonstrating that “nobody is getting that great performance” from on-chain linear token transactions in general.

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