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Hoskinson Explains Advantages of Cardano Over Ethereum and Potential Competitors!

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Charles Hoskinson, Co-Founder and CEO of IOHK, discussed why Cardano stands out among blockchain platforms while also giving an update on the rollout of Cardano smart contracts  on Wednesday During an interview with Yahoo Finance’s Akiko Fujita and Zack Guzman. 

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What makes Cardano better?

Charles Hoskinson said that Cardano was built because they wanted to create a collection of protocols that could do all the things specifically for the developing world because we saw Africa growing at 10-15% per year and Southeast Asia growing at similar rates, and he wanted to do it for some of the poorest people in the world who will build up wealth over the next 30 to 50 years and might be in a completely different place. 

It has governance built in, it has compliance, and so forth, and these are the kinds of conversations we have and we see not only us [having] tremendous growth, but we’ve seen the industry as a whole have tremendous growth, and actually government adoption is pretty remarkable.

He went on to claim that Eth 2.0 and Cardano have distinct user bases on top of different technologies and philosophies

What exactly is being built on Cardano?

Cardano was designed to be holistic. We’re almost finished with the smart contract rollout he said. They started with metadata in December, which allowed them to add identity to the blockchain. Alsos they have already started deploying those technologies for five million Ethiopia and georgia.The ability to issue assets on the platform was the next key milestone. They are seeing the most acceptance there with NFCs, and there are a lot of NFT platforms coming in, with programmability being the last rollout. That’s smart contracts, and they’re coming soon to the platform. In the next 90 days, there will be a lot of beta testing and it’s just a question of what’s the best time to do that for all the people who use it.

As for Ethereum Hoskinson went on to say that,

“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”

Speaking of the king coin Bitcoin he compares it to a wood-powered steam engine, referring to how slow the system seems to be evolving for Bitcoin.

“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”

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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