Cardano (ADA) founder Charles Hoskinson, who is also a co-founder of Ethereum (ETH), said Wednesday that the true Ethereum killer is the upcoming version of the project.
What Happened: Hoskinson made his remarks to Yahoo Finance during an interview where he discussed a wide range of topics including his discussions with “Shark Tank” fame investor Mark Cuban and the evolution of cryptocurrencies.
On being asked how ADA was positioned relative to other so-called Ethereum killers, he said, “Well you know first off its important Ethereum is killing itself, they're replacing Ethereum with Ethereum 2.0, so Ethereum 2.0 will kill Ethereum 1.0. So I think that's the Ethereum killer.”
See also: How to Buy Ethereum (ETH)
The interviewer asked Hoskinson if Ethereum’s shift to a proof-of-stake model could mean that Ethereum would emerge as a Cardano killer, the tech entrepreneur replied, “We were always with the mantra of scalability, interoperability, and sustainability and so yeah sure proof of stake is great and we're leading that fight. We were first to market with [proof of stake] over Ethereum.”
Hoskinson said Ethereum does not have an “obvious on-chain governance system” and that’s not in the “roadmap” for the upcoming 2.0 version either.
See Also: Proof of Stake vs Proof of Work
Other reasons that Hoskinson listed that will keep Cardano safe from being killed by Ethereum 2.0 are disparate user bases, varying philosophies, and different time horizons.
Why It Matters: On smart contract functionality in ADA, Hoskinson said that in the next 90 days “we should see a lot of beta testing,” reported Yahoo Finance.
Hoskinson also revealed that people from Cardano and Cuban’s staff had been in touch with each other over a Memorandum of Understanding regarding a non-fungible token or NFT marketplace Cuban had been building.
Post the Twitter spat between Cuban and Hoskinson, the former got personally involved in negotiations, according to Hoskinson who said, "I think we came to terms on something.”
Hoskinson recently dispensed advice to Tesla Inc TSLA CEO Elon Musk on how to scale Dogecoin (DOGE) through a video.
See also: How to Buy Cardano (ADA)
ADA, the fifth-largest cryptocurrency by market capitalization, has risen 820.63% so far this year, which beats year-to-date gains seen in ETH and Bitcoin (BTC) which rose 264.63% and 29.57% respectively.
At press time, over a 24-hour period, ADA traded 0.9% lower at $1.65, BTC was down 4.6% at $37,637.33, and ETH was in the red by 5.13% at $2,683.01.
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