Hoskinson: Ether 2.0 upgrade doesn’t threaten Cardano

Charles Hoskinson, founder of Cardano (ADA), explains why Ether’s transition to Proof of Stake (PoS) is not a threat to Cardano.

Hoskinson: Ether 2.0 upgrade doesn't threaten Cardano

In an interview with Yahoo Finance, Cardano (ADA) founder Charles Hoskinson explains why Ether’s transition to Proof of Stake (PoS) is not a threat to Cardano.

During the interview, the host asked if Ether’s transition to proof-of-stake could make it a so-called ” Cardano killer”.

Hoskinson countered, “I don’t see it that way; the mantra of the Cardano blockchain has always been “scalability, interoperability and sustainability. And those three characteristics make it different from Ether.”

Regarding the migration of Ether to proof-of-stake, Hoskinson noted that Cardano was the first to bring it to market. “It’s just the engine, and the engine doesn’t make BMW a BMW. It’s just one component of the whole ecosystem.”

First, Hoskinson addressed the issue of governance, saying that Ether developers have “bowed down” during the transition to Ether 2.0. And after the founders retire or lose leadership, no one is sure how the system will evolve or be updated.

Hoskinson: Ether 2.0 upgrade doesn't threaten Cardano

Bitcoin faces a similar problem, he claims, in that the bigger the project, the slower it evolves. And while the on-chain governance system is not on the roadmap for Ether 2.0, it is a core part of Cardano.

Hoskinson also emphasized interactivity, noting that Cardano makes special provisions for sidechains. However, Ether is also able to do this in a cost-effective manner, which indirectly raises the cost of gas. While this is a priority for Ether 2.0, it is unclear how they will do this.

Finally, Hoskinson emphasized that Cardano and Ethereum have different audiences. The Cardano founder also noted that their accounting models are also completely different, and he emphasized the scalability of Cardano’s UTXO model. This enables sharding by design, a model that Ethereum is still struggling with, and Hoskinson concluded by saying that he believes “we will be the leader in micropayments.

In creating Cardano, Hoskinson wanted to harness all the benefits of blockchain technology to try to improve the developing world. He saw that the population in Africa and Southeast Asia, where infrastructure is underdeveloped, was growing at a rate of 10 to 15 percent per year.

Hoskinson’s hope for Cardano is that the wealth built by this growing population will operate using this “alternative system” on. He also highlighted the fact that Cardano has already started projects in Georgia and Ethiopia.

Prakash Chand, founder of AskTheDoctor, moved his company’s AskToken blockchain to Cardano after communicating with Hoskinson about these goals. Billionaire Mark Cuban has also become a fan of the blockchain, saying he is “backing” the blockchain project.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/hoskinson-ether-2-0-upgrade-doesnt-threaten-cardano/
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