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Cardano Founder Charles Hoskinson Predicts Quick Victory for Ethereum Against Bitcoin

Mon, 06/21/2021 - 09:00
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Alihuseyn Gulu-Zada
As a guest on Lex Friedman's podcast, Charles Hoskinson made several important statements about Bitcoin.
Cardano Founder Charles Hoskinson Predicts Quick Victory for Ethereum Against Bitcoin
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First of all, Hoskinson criticized the excessive slowness of the Bitcoin network compared to Ethereum. The Cardano founder said that Bitcoin loses in speed and functionality to alternative proof-of-stake networks. In particular, Bitcoin's basic proof-of-work mechanism was also criticized.

According to a guest on the podcast, the Bitcoin community is largely to blame for the current situation because of its conservative views due to the secondary scaling of the network. 

This is one of the most important Lex Fridman episodes in the history of the podcast

— Charles Hoskinson (@IOHK_Charles) June 21, 2021

Hoskinson said it (Bitcoin) is its own worst enemy. Bitcoin has network effects, a brand name and regulatory approval. But there is no way to change the system, not even to fix the obvious flaws in its system.

Unlike Bitcoin, Cardano's founder singled out Ethereum's flexible development culture and depth of evolution among its advantages. He noted that Ethereum has grown to the level of the Bitcoin network, but has a flexible development culture that accepts evolution. Hoskinson also said that if there were a fight between the two (Bitcoin and Ethereum) and he had to bet on someone's victory, it would be Ethereum. Because he would be sure that in 9 out of 10 cases Ethereum would win.

In summarizing his thoughts, he said that the battle in cryptocurrencies is at an early stage, with several blockchains already struggling for a major share of the blockchain market. Nevertheless, Hoskinson noted that Cardano is also a serious competitor to all the others in this battle.

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About the author

Alihuseyn graduated from Yale University with a focus on linguistics and philosophy. He has worked as a journalist-analyst for Trend News Agency. At the same time, he is an academically trained singer (baritone) and a composer. Alihuseyn has been involved in cryptocurrency and blockchain since 2017 and is an enthusiast in this field, considering blockchain technology revolutionary and capable of changing society. In this area, he has written several theoretical and analytical pieces.