Cardano Examination Results: Notable Findings and Public Response

In a recent turn of events, the Cardano blockchain, one of the leading cryptocurrencies, has been vindicated following an independent audit. The controversy, which began with allegations of manipulation by Cardano's founder, Charles Hoskinson, has now been laid to rest.

The controversy was initiated by Masato Alexander's claim that Hoskinson manipulated the Cardano ledger using a genesis key. However, the thorough audit conducted by Input Output Global (IOG), McDermott Will & Emery, and BDO has determined that there was no basis for these accusations.

The audit found no fraud or misuse in the Cardano protocol. It also determined that each of the allegations related to the topics of investigation does not have any basis. Furthermore, it found no evidence of deliberate blocking of ADA redemptions, as previously accused.

The audit report, backed by BDO, revealed that 99.2% of ADA vouchers were redeemed, totalling 25.85 billion ADA coins. This figure is in line with the defence put forward by Hoskinson, who stated that 99.8% of the ADA vouchers were redeemed, while the remaining 0.2% were redirected to the treasury.

Early buyers of ADA successfully redeemed their tokens using digital vouchers, leading to accusations of misuse of coins by ADA insiders. However, the audit report has nullified these claims, providing transparency and clarity to the process.

Interestingly, the audit also debunked the narrative that Cardano targeted elderly investors. It was found that only about 6.1% of ADA buyers were older than 65 at the time of purchase, contradicting the accusations.

EMURGO, a commercial arm of the Cardano ecosystem, has shared the link to the transparency report, expressing their satisfaction with the publication of the full Investigative Report and Forensic Audit regarding the ADA Voucher redemptions. They hope that this public release will lay to rest any further allegations and help restore the reputation of Cardano.

The controversy had led to Cardano pushing for an independent audit of its transactions, demonstrating the platform's commitment to transparency and integrity. This audit marks a significant step towards rebuilding trust and confidence in the Cardano ecosystem.