25 February, 2024

Charles Hoskinson: Now Everyone Will Label ETH’s Problem As Cardano’s

1 year ago

12 Dec, 2023

The Ethereum Merge, widely considered to be both one of the most exciting and highly awaited events in the annals of cryptocurrency, has now been successfully completed. The Proof-of-Work (PoW) consensus mechanism has been replaced by the Proof-of-Stake (PoS) mechanism in Ether.

Charles Hoskinson, the creator of Cardano (ADA), believes that we have entered an era in which everyone would presume that all Proof of Stake protocols operate in the same manner as Ethereum’s Proof of Stake. He continued by saying, in a joking tone, that the maxis would attack Cardano for slashing and would blame all of Ethereum’s troubles on them.

His tweet, which was in reply to Twitter founder Jack Dorsey’s post, read:

“Now begins the Era of everyone assuming that all Proof of Stake works like Ethereum’s Proof of Stake. The maxis will attack Cardano for slashing and label all the Ethereum problems as ours. Thanks, Jack!”

It is important to point out that the implementation of proof-of-stake in Cardano doesn’t need any slashing to take place. The decentralization of the blockchain may be improved and made more resistant to assault by giving holders a greater share of the available supply of ADA and doing so according to the dynamics of a free market.

Interestingly, Hoskinson is actually one of Ethereum’s co-founders. There is a history of animosity between Hoskinson and the other co-founder, Buterin, from which he departed the project following a disagreement. The project’s framework was a point of contention for the pair.

While Buterin wanted Ethereum to be a nonprofit project, Hoskinson’s goal was to create a business that would generate revenue. His departure from the company, in June 2014, was due to disagreements with the other co-founder about his unconventional ideas.