The battle for supremacy between major blockchains such as bitcoin, ethereum, and Cardano is heating up, and this time, Charles Hoskinson is the one taking the lead. This comes after the highly anticipated Chang hard fork was fully completed, which moved the Cardano blockchain to new governance. This supposedly gives it superiority over its fiercest rival so far in the game, which happens to be ethereum.
Cardano solves the main problems
Cardano founder Charles Hoskinson attended the Token2049 Conference in Singapore, which hosts some of the brightest minds in the cryptocurrency world. ethereum-dictatorship-claims-cardano-founder-charles-hoskinson?” rel=”nofollow noopener” target=”_blank”>interview At the conference with CoinTelegraph, the founder explained the benefits of Cardano over cryptocurrencies like bitcoin and ethereum.
According to him, the new governance model of the Cardano network shifts the balance of power from the few to the many, which he recognizes as a problem with the ethereum Network. Hoskinson explained that the ethereum network was too reliant on its founder, Vitalik Buterin. However, in the case of the ethereum network, Chang's hard fork ensures that regardless of whether Hoskinson is on the scene or not, innovation will continue on the Cardano network.
He referred to the ethereum model as a “dictatorship” as Buterin is “the only person who has enough power to bring people together.” In contrast to this, he suggests that Chang’s upgrade has helped the Cardano Network to solve the trilemma of efficiency, effectiveness and integrity, allowing us to avoid major problems such as “bitcoin anarchy or ethereum dictatorship”.
Speaking further about the new governance model of the Cardano network, the founder praised the new functionalities of the network that allow for a more collaborative model through delegated representatives. Hoskinson highlighted that “they can talk to each other, vote, and create and use blockchain-based governance to ratify a roadmap on a regular basis.” He further said that “Charles, dead or alive, doesn’t matter. There will still be innovation on a daily basis.”
The problem with ethereum
Charles Hoskinson’s history with the ethereum network dates back to its very beginnings, as he was one of the original eight founders of the blockchain. However, following a disagreement with Vitalik Buterin over the network’s revenue model, Hoskinson was promptly fired, leading him to develop his own blockchain.
Hoskinson launched the Cardano network in 2017, two years after ethereum launched, and a fierce rivalry was born. So far, both networks and their native tokens have performed well, ranking among the top 10 in the space. However, in terms of adoption, ethereum continues to lead, although it is also still the best. ethereum/ethereum-whale-15000-eth/” rel=”nofollow noopener” target=”_blank”>The second largest cryptocurrency in the spacewith Cardano in tenth position.
Featured image created with Dall.E, chart from Tradingview.com
