Cardano
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Charles Hoskinson engaged Ethereum developers in a feud on Twitter, sets to trending

A peculiar occurrence on October 1st, 2017, sent shockwaves through the cryptocurrency community. Cardano, a little-known cryptocurrency with a market worth of roughly $600 million, and ADA, the coin that corresponds to it, were discovered on cryptocurrency tracking websites. In its early stages, Cardano had a market worth of over $10 billion. It temporarily reached more than $33 billion in January before falling back to about $10 billion as the cryptocurrency market as a whole shrank. It now ranks sixth in terms of market capitalization, after Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

The first blockchain protocol based on peer-reviewed research, Ouroboros is a safe proof-of-stake mechanism that runs on the Cardano blockchain. Charles Hoskinson, the founder of Cardano (ADA), engaged Ethereum (ETH) developers in a verbal altercation by accusing them of neglecting the Ouroboros. He claims that the Ethereum core community despises Cardano and that Ethereum developers have been ignoring Ouroboros for the past five years.

Cardano’s code has undergone expert and scientific peer review, making it extraordinarily robust. Thanks to its Ouroboros proof-of-stake system, it asserts to be quick and scalable. It is written in Haskell, a programming language frequently employed in crucial defense and finance systems. It offers compatibility between the current cryptocurrencies. Finally, it provides long-term sustainability through the use of a cryptocurrency treasury that may provide initiatives with long-term funding. Cardano has an excellent group of developers. Charles Hoskinson is in charge of it.

The Cardano group, in his words, is a “cult devoted to a nasty, sociopathic, but incompetent pathological lying creator who miraculously stumbled upon stolen success, but will be in jail any moment now when the world wakes up,” according to the Ethereum developers. He asserts that Ethereum developers need to advance and evolve because they are stuck with technology since 2014.

Cardano seemed to have carefully considered everything on paper. Thoughts must sometimes come later than actions, as demonstrated by Cardano’s rivals. Thousands of decentralized apps are already running on Ethereum, and dozens more ICOs (initial coin offerings) are planned for the near future. Despite Cardano’s potential technical and other advantages over both Bitcoin and Ethereum, the truth remains that Bitcoin is extremely well known outside of the cryptocurrency community and has the first-mover advantage. Cardano has not yet created the resources needed by developers to create such projects. It can also be difficult to attract developers to a new platform; just ask Microsoft, who attempted and failed to attract developers from iOS and Android to Windows Phone.

“Cardano doesn’t require cryptocurrencies to be successful to succeed,” Hoskinson remarked. We can reach billions of users without stealing a single one from Bitcoin or Ethereum because mass acceptance hasn’t yet occurred. Hoskinson proceeded by saying that this harms the industry since it makes adoption and collaboration more challenging. He continued by saying that because users are compelled to make bad design choices, they bear the brunt of this hostility.

The founder of Cardano argued that other blockchain networks using the consensus mechanism would be “unfairly compared” to ETH as a result of Ethereum’s switch to proof-of-stake. Hoskinson asserts that the release of the locked-up staked coins would result in “another cascading fall from abrupt surges of liquidity.” To facilitate a quicker transition to PoS, in his opinion, Ethereum developers need to have developed the Snow White protocol. “The first formal, end-to-end proof of a Proof-of-Stake system in a genuinely decentralized, open-participation network” is the snow white PoS consensus, according to its creators. Elaine Shi, a professor at Cornell University, co-wrote it. Because it obliged users to lock up their money permanently, Hoskinson had previously questioned ETH’s PoS implementation.

Hoskinson is well aware that Cardano still has a lot of catching up to do despite his audacious projections for the future. He claims that in the end, it shouldn’t matter. “To accomplish things correctly, you must pay a bigger upfront charge. Once you’ve done that, you’ll experience acceleration and won’t need to go back because you did it correctly the first time.”