The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Here’s How Cardano Differs From Bitcoin and Ethereum, According to Charles Hoskinson

by Daily Hodl Staff
June 29, 2020
in Altcoins

Charles Hoskinson, the founder of Cardano, an open-source blockchain and decentralized cryptocurrency project, says the project represents a generational leap in technology compared to Bitcoin (BTC) and Ethereum (ETH).

In a new Altcoin Buzz interview with Layah Heilpern, the founder of Input Output Hong Kong (IOHK) describes the main value proposition of Bitcoin when it was first invented.

“With Bitcoin, this was the first mover. This was the first-generation. Really it was the concept of can you have decentralized money, decentralized transfer value, decentralized ledger and somehow, someway, a dynamic and decentralized network will maintain that.

This was not the case before Bitcoin. No one had ever pulled anything like this off…

The problem with Bitcoin is that it’s very simplistic in what it can do. It’s not a criticism. It was a design feature that the architects of that system we’re trying to push.”

Hoskinson says that Bitcoin’s limitation of simply pushing value gave birth to Ethereum.

“[With Bitcoin], you can’t issue assets. You can’t do a complex contractual relationship. You can’t do DApps and DeFi and all of these things.

So the point of Ethereum, which was the first second-generation cryptocurrency, was to try to understand what that model looked like. So it took everything from the prior generation – the decentralized ledger, the dynamic and decentralized control. But then it said ‘hey now all of a sudden your transactions are programmable’.” 

While Ethereum’s programmability opened many doors, Hoskinson says the second-largest cryptocurrency is limited by its inability to scale and share data with traditional systems.

“It’s not good enough to just say ‘hey we’re gonna build a system that’s blind and deaf and it doesn’t really understand or see the world around it’. We need to build a system that’s aware that there are other systems and can communicate with them and move value and information.”

Hoskinson says that the limitations he sees in both Bitcoin and Ethereum led to the creation of Cardano.

“So when you bundle these three things together – interoperability, scalability, and sustainability – that functionally creates what we call a third-generation cryptocurrency.

Now to do this, we’ve had to embrace a very different way of designing things. We went back to first principles so we assumed nothing… We basically, slowly but surely, built up a corpus of capabilities whether it be consensus capabilities, or ledger capabilities and programmability, or voting systems and governance capabilities. When you string them all together that’s basically what Cardano is.”

You can check out the full interview below.

I
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Sui Joins DeFi Leaders, Topping $100 Million in Bridged USDC
    December 7, 2023
  • WOW EARN Unveils Layer One Blockchain, Redefining Efficiency and Global Accessibility
    December 5, 2023
  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$42,146.29
$42,146.29
4.17%
Ethereum
$2,238.08
$2,238.08
4.9%
Cardano
$0.55483
$0.55483
5.93%
XRP
$0.621819
$0.621819
6.51%
Dogecoin
$0.097631
$0.097631
2.32%

Spotlight

  • Crypto Strategist Unveils Bitcoin (BTC) Path to $83,000, Gives Short-Term Ethereum Price Target
    December 4, 2023
  • Crypto All Set for Renewed Economic Expansion As Biggest TradFi Firms Eye Industry With Envy: Raoul Pal
    December 4, 2023
  • ‘Giant Whale’ Accumulates 41,779 Ethereum (ETH) Worth $76,800,000 Since September: On-Chain Data
    December 4, 2023
  • PlanB Says Bitcoin Price Explosion to $60,000 Range Imminent As BTC Halving Approaches
    December 4, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl