The battle for supremacy between the top blockchains like Bitcoin, Ethereum, and Cardano is intensifying, and this time, Charles Hoskinson is the one taking the shot. This comes after the much-anticipated Chang hardfork is complete, moving the Cardano blockchain into a new realm. This is said to give it an edge over its fiercest competitor so far in the game, which happens to be Ethereum.
Cardano Solving Big Problems
Cardano founder Charles Hoskinson attended the Token2049 Conference in Singapore, with some bright minds in crypto. In an interview with CoinTelegraph at the conference, the founder explained Cardano’s advantages over the likes of Bitcoin and Ethereum.
According to him, the new governance model of the Cardano network changes the balance of power from the few to the many, which he admits is a problem with The Ethereum network. Hoskinson explained that the Ethereum network relied heavily on its founder Vitalik Buterin. However, in the case of the Ethereum network, Chang’s hard fork ensures that whether Hoskinson is in the picture or not, innovation will continue on the Cardano network.
He referred to the Ethereum model as “dictatorship” as Buterin “is the only person who has enough power to unite people.” Contrary to this, he suggests that the development of Chang helped the Cardano network to solve the efficiency, effectiveness, and integrity of the trilemma, which allows you to avoid major problems such as “Bitcoin conflicts or Ethereum tyranny.”
Talking further about the new governance model of the Cardano network, the founder praised the new network functions that make it possible to have a cooperative model through the use of delegated representatives. Hoskinson emphasized that “They can talk to each other, vote, and come up with and use a blockchain-based government to validate the road over and over again.” He continued, “Charles, whether you’re alive or dead, it doesn’t matter. There will be new things every day.”
‘Beef’ With Ethereum
Charles Hoskinson’s history with the Ethereum network goes back to the beginning as he was one of the first 8 founders of the blockchain. However, after disagreeing with Vitalik Buterin about the network’s profit model, Hoskinson was soon fired, which led him to develop his own blockchain.
Hoskinson launched the Cardano network in 2017, two years after the launch of Ethereum, and a fierce competition was born. So far, both networks and their native tokens have performed well, among the 10 largest in the space. However, in terms of adoption, Ethereum continues to lead, while also remaining the second largest cryptocurrency in the space, with Cardano sitting in 10th place.
The featured image was created with Dall.E, a chart from Tradingview.com