IOG recently unveiled plans to create a privacy-focused Cardano sidechain, Midnight, and also announced the acquisition of the Nami wallet. The Cardano team also plans to implement proposal CIP-1694, which will allow the community to have more say in the fate of the project.
Some members of the Cardano community were unhappy with the initiatives. They are convinced that it will have the opposite effect: it will make the blockchain ecosystem more centralized. Community members are worried that the acquisition of the Nami wallet will contribute to an even greater monopoly for IOG.
Cardano founder Charles Hoskinson supported IOG’s efforts and reminded the community that IOG, like any other company, creates decentralized applications for the Cardano network. Hoskinson is concerned that there are people in the community who are hostile to IOG’s efforts to use capital to accelerate the growth of the Cardano ecosystem. Hoskinson asked the community not to dramatize and to focus on creation, partnership, and remaining open to positive events.
“IOG is a builder. We create products and services to bring millions of people into our ecosystem. CIP-1694 will create a more decentralized ecosystem rather than an oligarchy. The Lace wallet will help Bitcoin and Ethereum users access the Cardano ecosystem, while Midnight aims to make Cardano a leader in data privacy. As for the acquisition of the Nami wallet, this is simply an attempt to speed up interaction with customers,” Hoskinson tried to explain on Twitter.
Previously, the businessman stated that he has no preference for any of the NFT projects, even if he mentions them somewhere. In July, Hoskinson proposed making the Algorand network a sidechain of Cardano, for which he was heavily attacked by crypto enthusiasts.
Source: Bits

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