- Cardano Founder Charles Hoskinson said that Cardano’s staking strategy is better than Ethereum’s.
- He further mentioned that Ethereum lacks scalability and can’t be used for large-scale applications.
- In wake of the Cardano Vasil Hard Fork upgrade, ADA observed a 4% price surge.
During an interview with Cheeky Crypto, discussing the origin of Cardano, Vasil Hard Fork upgrade, DApps launch, CBDC, the LACE light wallet, metaverse, & decentralization, Cardano Founder Charles Hoskinson claimed that Cardano has a better proof-of-stake (POS) approach than that of Ethereum.
Hoskinson further shared that while working with Ethereum he found out that while Ethereum has a layer-1 programmable blockchain that Bitcoin lacks, Ethereum does fall short when it comes to scalability and status as a proof of concept. As a result, it is not the most ideal for usage when it comes to large-scale government-level or enterprise-level applications.
Moreover, Hoskinson states Ethereum’s POS mechanism favors “hyper-centralization” with poor staking economics. This discovery inspired him to create the Cardano ecosystem granting a superior PoS framework, proper decentralization, and staking economics.
The Cardano foundation team made the Vasil Hard Fork upgrade live on September 22. As a result of its success, ADA experienced a 4% increase in its value, currently trading at $0.4505. In addition, ADA has grown to 0.14% in price in the last 24 hours, with experts claiming if the price hits above %0.55, it can anticipate rising to $1.
Discussing Vasil’s hard fork upgrade, Hoskinson said added features including Plutus v2 scripts, diffusion pipelining, reference inputs, inline datums, reference scripts, and data serialization primitives will further improve Cardano’s performance, usability, scalability, and interoperability.
To conclude, he said he is not in favor of CBDC because of the power it gives to officials such as SEC Chair Gary Gensler. According to him, to much power to the government might result in an extremely bear market.
More Trending Posts from Coin Edition:
- Cosmos Price Prediction: Will ATOM reach $40 in 2022?
- Ethernity Price Prediction: Will ERN Price Hit $10 in 2022?
- Spell Token Price Prediction: Will SPELL Price Hit $0.02 in 2022?
- Terra Luna Classic Price Prediction: Will LUNC Reach $0.001 in 2022?
- Ethereum Name Service Price Prediction: Will ENS Price Hit $50 in 2022?
- Sweat Economy Price Prediction: Will SWEAT Price Reach $0.1 in 2022?
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
