Opinion

Does Cardano Have Better Staking Method Than Ethereum? Charles Hoskinson Weighs In

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Sep 24, 2022

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In an interview, cardano founder charles hoskinson said that Cardano had a superior proof-of-stake (PoS) strategy over ethereum . Charles Hoskinson gave his opinions on creating Cardano, upgrading Vasil’s hard fork, launching Dapps, the LACE light wallet, decentralization, CBDC, the metaverse, and other topics.

On September 22, The IOG/Cardano Foundation team made the  Cardano Vasil fork a success and as a result, ADA marked a 4% price upsurge. At the time of writing, ADA is currently trading at $0.4505  a 0.14% price rise in the last 24 hours.

It has traded as low as $0.4467  and as high as $0.4791.ADA trading volume is $1,012,137,252 and the market capitalization is $20,230,401,425. According to experts, a rise in the ADA price above $0.55 will be bullish and drive the rally closer to $1.

Cardano Vasil hard fork is the recent Cardano upgrade in the ecosystem

In an interview with Cheeky Crypto on the day of the Vasil hard fork, Charles Hoskinson provided answers to queries about Cardano, the Vasil hard fork, and the most recent changes to the Cardano ecosystem.

He started working on Ethereum because it has a layer-1 programmable blockchain, whereas Bitcoin does not. Ethereum’s lack of scalability and status as a proof of concept, however, excludes its usage in enterprise-grade and large-scale government applications.

According to Hoskinson, the Ethereum PoS mechanism has a propensity for “hyper-centralization” and has poor staking economics. In 2015, he was motivated to create the Cardano ecosystem, which has an improved PoS architecture, decentralization, and economics.

The Plutus v2 scripts, diffusion pipelining, reference inputs, inline datums, reference scripts, and data serialization primitives are among the new features added by the Vasil hard fork. It will enhance the Cardano network’s performance, usability, scalability, and interoperability. He concluded by criticizing the CBDC idea, which increases government power. He claims that if people like SEC Chair gary gensler are given more power, a huge bear market might occur.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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