Charles Hoskinson, the founder of Cardano, has disclosed that he percepts a lot of differences between Ethereum and Cardano, which makes it clear that the way of Cardano’s ADA is not going to be blocked by Ethereum 2.0 has been hindered over the previous months.
While in an interview with Yahoo Finance, the chairman of IOHK (Input Output Hong Kong) stated that there is very little chance for Cardano to be taken down by Ethereum 2.0. The reason behind the assumption is that Ethereum’s consensus algorithm is not based on Proof-of-Work rather, it is a Proof-of-Stake therefore, the fight between the two is led by Cardano because Cardano was the first institution that marketed Proof-of-Stake over Ethereum.
Hoskinson, claiming to had become a crypto billionaire last month before the crash of the crypto market, mentioned the key difference-making Cardano favourable than Ethereum as governance (lack of a proper road map for evolution) and the rollback of the system at the retirement or when the founders do not have prominence.
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The founder of Cardano expressed that the evolution of the systems is dependent on their space which means that the bigger a system gets, the slower will be its evolution process. He further revealed that a fundamental part is an on-chain governance is another powerful factor for the system to evolve, which Ethereum 2.0 does not possess, yet Cardano has its roadmap.
Additionally, it was argued by Hoskinson that interoperability is another immediately significant thing on the platforms such as Polkadot, Cosmos, and others requiring special permissions for the sidechains, whereas an appropriate solution is not included yet in Ethereum in this regard. He elaborated the stance by pointing out that a bulk of differences exist between Ethereum and Cardano despite their same basis in the past as millions of consumers from Africa are getting into the Cardano family while Ethereum does not bother about it because of the different userbases.
He expressed his hopes for Cardano to expand its space for getting at the higher steps, and it has been expected by the firm to lead in identity and micropayments. He concluded with the words that no one is bound to agree with the assumptions that he proposed, and this thing makes it fun.
It is reported that IOHK (Input Output Hong Kong) has declared the launch of a Testnet for Alonzo Blue 2.0 to be used for crypto blockchain as a step further to incorporate smart contracts into the Cardano network.