Charles Hoskinson: Cardano will replace Ethereum 2.0
The Altcoin Cardano (ADA) is one of the big winners of the hour. Its co-founder Charles Hoskinson sees significant advantages of its blockchain over Ethereum 2.0.
Not only Bitcoin and Dogecoin, the price of the Altcoin Cardano (ADA) is also picking up speed
In the past four weeks, the ADA rate climbed 100 percent. In the course of the past week alone, it went up by 70 percent. He even provides the Bitcoin price performance this time in the shade . The break above the $ 0.50 mark earlier this week marks its highest level in more than three years.
Now Cardano CEO Charles Hoskinson, also co-founder of Ethereum, has spoken about Cardano’s potential. In an interview with Ben Armstrong , aka Bitboy Crypto, he announced that Cardano will even outshine Ethereum 2.0. The reasons he gave for this was that Cardano has a simpler and more robust design than Ethereum. In addition, he doubts that the added complexity of Ethereum 2.0 will result in higher throughput, better scalability and more security for the Ethereum network.
Now, of course, the introduction of the Goguen mainnet is of decisive importance for the further development of Cardano. Goguen is considered a significant leap forward in the capabilities of the Cardano network. With it comes the ability to build smart contracts, decentralized applications, and a whole host of other functions.
Hoskinson criticizes Ethereum’s security risk
The test network “Goguen Mary” has already passed a successful run. This means that the Cardano ecosystem will soon also have native token support. These custom tokens can be transferred directly on the blockchain. In this way Cardano will become a multi-asset ledger . According to Hoskinson, it is this difference in design that makes Ethereum lag behind Cardano.
Hoskinson, however, considers the second-layer and sharding solutions that Ethereum is aiming to be a risky approach.
You’re actually going from a half to a third Byzantine fault tolerance and there are availability issues and there will likely be all sorts of new attacks that will occur.
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With these statements, Hoskinson is once again bringing the security discussion about Ethereum into the spotlight. As the deadline for the introduction of Goguen approaches, the coming weeks and months will be decisive in whether Cardano can gain ground over Ethereum as the leading smart contract platform. The Cardano roadmap sets the start of the Goguen mainnet around March 2021.