Proposing a New Direction for Blockchain Development

There are criticisms that the cryptocurrency market is filled with speculation and false advertising. Charles Hoskinson, the founder of Cardano and co-creator of Ethereum, clearly pointed out the current issues in the industry and argued that the cryptocurrency ecosystem needs fundamental change.

The "end of 3rd generation cryptocurrencies" mentioned by Charles Hoskinson is more than just a declaration; it is a message criticizing the entire industry. He expressed concern over the dominance of meme coins and speculative capital in the market and called for a shift away from these trends toward practical technology applications and sustainable growth models.

From his perspective, for blockchain technology to realize its true value, development centered on real use cases is essential. The privacy project led by Charles Hoskinson, called Midnight, is seen as an attempt to implement this direction. Midnight is introduced as a "4th generation" blockchain technology with functionalities and practicality that differentiate it from existing generations of cryptocurrencies.

Charles Hoskinson's assertion that the cryptocurrency industry must focus on transparency and tangible value creation to build long-term trust is a noteworthy insight at this point. For blockchain technology to reach its true potential, such a shift in direction seems inevitable.