Charles Hoskinson Finds Fault With Bitcoin Maxis, Looks Forward to Tesla, Square Adopting Cardano
… according to Cardano’s founder and Ethereum’s co-founder Charles Hoskinson. Speaking on a podcast hosted by AI research scientist Lex Fridman, Hoskinson said that it is no longer about glorifying bitcoin in a cult-like fashion.
Cardano and Ethereum are better than Bitcoin, according to Charles, since they support practical infrastructural development on their networks, regardless of whether they are based on the POW or POS consensus algorithms.
Making a case for Cardano, Hoskinson said that it is a functioning alternative with over a million users and a market cap of $50 billion, a factor that bitcoin maximalists should consider, before damning all alternative ecosystems to Bitcoin.
In addition to alarming energy consumption rates, the bitcoin network is the most difficult network to scale upon, a factor that has necessitated the innovation of other, better mechanisms, such as Ethereum (second generation blockchain technology) and Cardano (third generation.)
However, when it comes to innovating on PoW, there is always 30% more energy consumption and its expenses have to be covered first by the developers and later by the ecosystem’s participants.
… it is no longer about comparing a blockchain network based on whether it is based on the proof of work or proof of stake consensus algorithms but on other more important factors like network security, scalability, and utility.
https://zycrypto.com/charles-hoskinson-finds-fault-with-bitcoin-maxis-looks-forward-to-tesla-square-adopting-cardano/
