The “Stellar Development Foundation”, which is abbreviated with the letters “SDF”, previously reported the process of burning 55 billion XLM tokens early this month, which we discussed in a previous topic that can be returned to from the link.

There were different responses from the crypto community, and we have already talked about these responses as well in the link.

Among those who responded to the burning was Ethereum co-founder and Cardano founder Charles Hoskinson.

Which considered the burning process carried out by the Stellar unnecessary and useless.

In the “Ask Me Anything” session, the Cardano founder talked about many things including the recent burning process by SDF, comparing Stellar to Cardano and saying that the Cardano network will not burn any ADA tokens.

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Where he stated:

The burning process never works.

There is short-term market manipulation for speculators, at the expense of the future of the protocol; And in our case it would require us to steal ADA from people because there is no giant pile of unallocated ADA.

Regarding Stellar specifically, he said that he and many businessmen see the burning process as useless and has no value to it.

He noted that the burned assets could have found a much better use, but instead, the thought was too short to estimate the market price.

He stated that:

Basically I can’t figure out what to do with that big pile of money.

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Set fire to a pile of money to make it rarer and to make a small gift for everyone.

It’s crazy!

It will be interesting to see how Jed McCaleb, founder and CEO of Stellar, responds.

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