Cardano founder Charles Hoskinson Expect a quick win for Ethereum over Bitcoin.
Charles Hoskinson talked about cryptocurrencies and why he thinks Ethereum is on the cusp of overtaking Bitcoin in the near future. He started by talking about the speed of bitcoin transactions. Indicating how slow the network is and how slow it is compared to other evidence of betting networks.
Focusing on ethereum in particular, he said that Currency It has outperformed Bitcoin in many ways.
Ethereum is higher than Bitcoin
Ethereum has gained popularity over the years as digital currencies have become more and more popular. It is the second most popular Currency Currently behind Bitcoin. With so many investors throwing their hats in the ring with Currency. considering that Currency It is bound to be a great deal much higher than Bitcoin. And Hoskinson appears to be part of that crowd.
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One of the ways Hoskinson has argued that eth is better than bitcoin is the flexible development culture associated with it. The good development of depth was one of the advantages that he pointed out among others.
Any errors found in the Ethereum network are fixable. No network locked issues. This is what makes development in the blockchain so flexible.
for example Ethereum 2.0. A development that has been in the making for a while now. It is meant to replace the existing network. In doing so, solve the bottlenecks that accompany network use. This makes sending coins cheaper even at times of heavy traffic.
Upgrading will also help with scalability and security. Make the entire network more secure for users.
This is developed by teams across the entire ethical ecosystem.
Bitcoin is its worst enemy
Continuing, Hoskinson called bitcoin his worst enemy.
Ethereum price | Source: ETHUSD on TradingView.com
The CEO noted that Bitcoin is riddled with network effects. But he noted that there is no way to change the system. This means that network optimizations are not possible. This makes fixing the obvious flaws associated with Bitcoin almost impossible.
The high network fees associated with sending bitcoins have long been a debated issue in the crypto space. This was supposed to be solved using the lightning technique. But even with this new technology, high network fees are still the norm.
This does not mean that ethereum does not suffer from the problem of high network fees during times of heavy traffic. But compared to Bitcoin, it remains a much better alternative in the match between the two.
Cardano outperforms both in this respect. The Currency It only cost about a penny or two to send on the net.
But with ethereum, these were not problems. Network defects in the network can be fixed without a problem due to the flexibility of its development. For this reason, there are always improvements made to the network. There are always developments underway to make the network better and easier to use.
The founder of Cardano went on to say that in a fight, his money was on ethereum. Against Bitcoin, Ethereum is bound to come out 9 times better than 10.
In conclusion, Charles Hoskinson explained that the cryptocurrency battle is still in its infancy. There are already many blockchains that are struggling to gain a significant share in the blockchain market.
Ethereum and Bitcoin are leading the way in the battle. But Hoskinson noted that despite this, Cardano remains a serious contender for all other blockchains in the space.
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