Charles Hoskinson believes that Cardano (ADA) is superior to bitcoin, and Tesla should use it as a payment method instead of BTC.
Cardano’s founder said the project’s cryptocurrency ADA is one of the greenest and most environmentally friendly digital assets.
If you’d like to listen to a five-hour monologue (interspersed with some questions), check out the podcast below.
Cardano is better than bitcoin
In an interview with Lex Fridman, Charles Hoskinson highlighted the benefits of his proof-of-stake blockchain platform Cardano. He noted that the PoS system is much better than its competitors in terms of power consumption. In addition, he suspected that Cardano and his own digital assets should be Tesla’s first choice:
“If they really care about alternative energy, sustainability, carbon reduction and carbon neutrality, you can’t be in a system without a built-in mechanism to limit energy consumption.”
In other words, Hoskinson thinks Musk should focus on ADA instead of bitcoin:
“Bitcoin is the least programmable of all cryptocurrencies and if you want to do interesting, sexy and unique things, there’s just no real way to do that.”
However, Hoskinson pointed out that all crypto projects are an experiment and hide their risks. While Cardano has had significant success recently, it is not 100% certain that it will achieve its goals in the future.
Cardano is better than Ethereum
This isn’t the first time Charles Hoskinson has elevated Cardano above his rivals. In late May, he criticized Ethereum’s network, calling it overrated and outlining a lack of vital properties. He then shared three reasons why Cardano is the better blockchain project.
Firstly, Cardano can work with metadata and also with automated regulation. According to him, Ethereum can only handle smart contracts while Cardano can with governance and compliance.
Second, Ethereum has never partnered with local governments of developing countries to help their citizens, while Cardano has done so in Ethiopia, Tanzania, and Georgia.
Third, Hoskinson opined that Ethereum has a very confusing structure and that the upcoming ETH 2.0 release will lead to the demise of the entire network:
“First of all, Ethereum is killing itself. They are replacing Ethereum with Ethereum 2.0. Ultimately, ETH 2.0 will kill ETH 1.0.”
TL;DR Cardano is the best in the world, according to Hoskinson.
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