Cardano Creator Charles Hoskinson Predicts the Outcome of Bitcoin and Ethereum War

Cardano founder Charles Hoskinson believes that Bitcoin is not fit to survive a one-on-one match with Ethereum. Hoskinson, CEO of IOHK, the co-creator of Ethereum and the company behind the blockchain platform Cardano (ADA), told artificial intelligence researcher Lex Fridman that Bitcoin is an incredible first-generation product, but that it has become rudimentary compared to other new products. says. cryptocurrencies. projects. “The problem with Bitcoin is that it's so slow, it's like mainframe programming of the past. The only reason it's still around is because so much has been invested in keeping it around that we leave it there [say] and 'one day [computer language] COBOL will die'.'” Hoskinson says there are fundamental improvements. He believes it will make Bitcoin a “competitive” system. He points to Bitcoin's slow and methodical development process as an obstacle. The IOHK chief said that Cardano's main competitor, Ethereum, is not suffering from the same recession. “It gets to a point where [Ethereum] has a similar network effect to Bitcoin, but the community there is completely different in culture. They like to evolve. They like to upgrade – sometimes a little too much. And that, if you look at the way things are going, if I had to bet [on] just these two systems, Bitcoin or Ethereum, I would say nine-tenths of Ethereum would win the war against Bitcoin. was his only rival. "Obviously, we're here and a lot of other people are here, so different things are going on. It's a much more complex game." Bitcoin proponents argue that the pace of technical progress has protected BTC from outside influences and fueled its rise from humble beginnings to a brand name on a global scale, pointing to the cryptocurrency's unique level of decentralization and security, as well as monetary policy. Limited supply limit of 21 million coins. Don't miss a thing – Subscribe to receive instant crypto email alerts.

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