Charles Hoskinson, the founder of Cardano, has said that the recent collapse of crypto exchange FTX highlights the need for decentralization in the industry. Hoskinson said that the crypto industry is strong, but that recent failures have shown the need for decentralization and proof of reserves.
Hoskinson argued that decentralization is necessary to prevent future failures of trust in the industry. He said that centralized entities are prone to mistakes and corruption, and that decentralization is a way to prevent these problems.
Hoskinson pointed to statistics that he claimed showed how decentralized Cardano is. He said that the protocol has outgrown its founder and that it is being used by over three million people. Hoskinson also said that IOHK is partnering with the University of Edinburgh to create an index that will track metrics of decentralization.
