Charles Hoskinson explained what makes Cardano stand out among blockchain platforms, said Ethereum is actually killing itself
On Wednesday, Charles Hoskinson, Co-Founder, and CEO of IOHK explained what makes Cardano stand out among blockchain platforms (including Ethereum and its many challengers).
Charles Hoskinson, Co-Founder, and CEO of IOHK
Charles Hoskinson: Cardano and Ethereum 2.0 have different technologies, philosophies, and user bases
His comments were made in an interview with Akiko Fujita and Zack Guzman of Yahoo Finance.
When asked by Guzman what makes Cardano better than other blockchain platforms, the founder of Cardano replied:
“And the reason we built Cardano was that we wanted to build a collection of protocols that could do all of these things specifically for the developing world because we saw Africa growing at 10-15 percent per year and Southeast Asia growing at similar paces and do that for some of the poorest people around who over the next 30 to 50 years will build up wealth and they could be at a completely alternative system that has built into it everything.”
Guzman then asked for an update on how what is being built on Cardano compares to what is being built on other Ethereum killers.
Hoskinson replied:
“First off, it’s important to say Ethereum is killing itself. They’re replacing Etheruem with Ethereum 2.0. So, Ethereum 2.0 will kill Ethereum 1.0. So, I think that’s the Ethereum killer.”
Hoskinson claims that Cardano is the market leader in Proof-of-Stake and it is leading the fight:
“We are leading that fight. We were first to the market…Engine doesn’t make a BMW a BMW. It’s a part of it, but you need a whole ecosystem, a whole collection of things.”
Furthermore, Hoskinson argues that Cardano is superior to Ethereum in three ways: Governance, interoperability, and user bases.
First, when it comes to governance, Ethereum 2.0 has failed. This will make it difficult for the ecosystem to grow as its founders retire or lose prominence. Just like Bitcoin – an example of a system that is growing too slowly.
He said:
“You have those Bitcoin core developers who desperately want to evolve the system: even though core developers want to implement multiple improvements like smart contracts and side-chains, they can’t get anything done.”
Meanwhile, as Hoskinson points out, enabling chain governance is an important part of his project roadmap. He also said that Ethereum is less interoperable than protocols like Cardano, Polkadot, Cosmos that make special provisions for sidechains.
Finally, he stated that Ethereum 2.0 and Cardano have different user bases based on different technologies and philosophies:
“We are bringing millions of people in Africa that simply Ethereum doesn’t seem to care about…”
Read more:
- On The Verge Of The Alonzo Hard Fork, Charles Hoskinson Is Preparing For The Busiest 90 Days In The Project’s History
- CEO Charles Hoskinson Gave An Update On The Rollout Of Cardano Smart Contracts, Providing Support For DApp Developers