Cardano Has Better PoS Approach Than Ethereum latest News

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Cardano founder Charles Hoskinson said in an interview that Cardano has a better proof-of-stake (PoS) approach than Ethereum. Charles Hoskinson shares his insights on introducing Cardano, Vassil hard fork upgrade, Dapp rollout, LACE Lite wallet, decentralization, CBDC, Metaverse, and more.

This Token Has Surged 20 In The Crypto Crash By CryptomarketBag

Cardano’s Vasil hard fork was successfully activated by the IOG/Cardano Foundation team on 22 September at 21:44 UTC. ADA price jumped over 4% after the upgrade went live.

Charles Hoskinson Claims Cardano Is Better Than Ethereum

Cardano founder Charles Hoskinson in a Interview Cardano with Cheeky Crypto on Vasil Hard Fork Day, answered questions on the latest developments related to the Vasil hard fork and the Cardano ecosystem.

Charles Hoskinson stated that the need for a layer-1 programmable blockchain because bitcoin lacks programmability led him to work on ethereum. However, Ethereum was like a proof of concept and lacked scalability, which precludes its use in enterprise-grade applications and government-level applications. In fact, people pushed development off-chain for Web3 projects like Alchemy and Amazon.

Ethereum needs a better PoS system and programming model so that off-chain and on-chain work can be done seamlessly. Hoskinson argues that the Ethereum PoS model leads to “overcentralization” and weak staking economics. This prompted them to build the Cardano ecosystem with an improved PoS model, decentralization and economics in 2015.

“We had to invent a completely new way of doing proof of stake, which is great because it’s self-custodial and you don’t have a token lock or any of that. So, you can transfer your funds at any time. And you don’t need to rely on anyone.”

Cardano now has over 3,000 stake pools and mechanisms to increase decentralization. In addition, it has a GitHub community, over 1000 upcoming projects, over 150 papers, and 10,000 citations.

Ethereum needs a better design and moving in the right direction. Furthermore, the two addresses that make up 46% of the blocks after the merge are unusual.

Vassil Hard Fork introduces capabilities including Plutus v2 scripts, diffusion pipelining, reference inputs, inline datums, reference scripts, and data serialization primitives. This will improve the functionality, performance, scalability and interoperability of the Cardano network.

Vasil Hard Fork. After ADA Price Jumps

Cardano (ADA) price jumped after Vasil hard fork. ADA formed a 24-hour low and high at $0.446 and $0.479 respectively.

At the time of writing, Cardano price is trading above $0.46, which is up about 5% over the past 24 hours. Here’s How Cardano Price Could Surge After Vasil Hard Fork.

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Influenced by disruptive technologies, he has shared his knowledge of Blockchain, Cryptocurrencies, Artificial Intelligence and Internet of Things. He has been associated with the Blockchain and Cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.

Cardano Has Better PoS Approach Than Ethereum latest News CryptomarketBagCardano Has Better PoS Approach Than Ethereum latest News CryptomarketBag

The material presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for your personal financial loss.

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