Cardano founder cites Minotaur as evidence that innovation still thrives despite SEC’s anti-crypto policies

Charles Hoskinson

Hoskinson cites Minotaur as a leading innovative blockchain.

The co-founder of the Cardano blockchain, Charles Hoskinson, said that despite the noise, innovation still thrives. He said that a good example is the Minotaur blockchain, which he described as the backbone of the next generation of cryptocurrencies.

A paper to be proud of

In a Twitter post he made on June 10, Hoskinson wrote,

“Through all the noise, remember that the forges of innovation continue every place you look. One of the papers that I’m most proud of is Minotaur. It’s the backbone of the next generation of cryptocurrencies.”

Minotaur is a blockchain project that aims to create a more sustainable and efficient blockchain ecosystem. It uses a Proof of Stake consensus algorithm, which is more energy-efficient than the Proof of Work algorithm used by many other blockchains. Minotaur also offers fast transaction speeds and low transaction fees, making it an attractive option for users who want to send and receive cryptocurrency quickly and affordably. Additionally, Minotaur has its own native token, called MTA, which can be used to pay transaction fees and participate in the governance of the platform.

Designed to solve challenges facing the blockchain industry

It has been described as a next-generation blockchain platform that is designed to solve some of the biggest challenges facing the blockchain industry today. One of the key features of Minotaur is its energy-efficient Proof of Stake consensus algorithm, which enables faster transaction speeds while consuming less energy compared to traditional Proof of Work algorithms. Minotaur also offers low transaction fees and supports smart contracts, making it a versatile blockchain platform that can be used for a wide range of applications.

Suits against crypto exchanges

The statement by Hoskinson comes days after the Securities and Exchange Commission filed suits against Binance US and Coinbase, two US-based cryptocurrency exchanges. The lawsuits brought the SEC’s regulatory action to a new watershed, seen by many as a battleline between the crypto industry and the SEC. The lawsuits are a sequel to an ongoing legal action against Ripple Labs, the company behind the ripple (XRP) cryptocurrency.

In addition to its technical features, Minotaur also has a strong community of developers, users, and supporters who are working together to build a more decentralized and sustainable future. The platform is governed by a decentralized autonomous organization (DAO), which enables community members to participate in decision-making and contribute to the development of the platform. Overall, Minotaur is an exciting project that is poised to play a key role in the future of blockchain technology.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.