The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • 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
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • 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
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Multi-Billion Dollar Product Lines Coming to Cardano, Mass Exodus From Ethereum at Base Layer Likely: Charles Hoskinson

by Daily Hodl Staff
April 16, 2021
in Altcoins, Blockchain, Ethereum

Cardano creator Charles Hoskinson says the smart contract platform will host billions of dollars worth of products and inspire many blockchain developers to migrate away from Ethereum at the base layer.

In a new interview on Cardano Chats, Hoskinson, who is busy at working building a competitor to the Ethereum platform, which he himself co-founded roughly six years ago, says that Cardano is set to capture billions of dollars of value in the financial sector.

Ethereum has a years-long lead in the smart contract space. Once Cardano launches smart contracts, which is expected to happen in August, Hoskinson says he envisions the platform powering a global infrastructure for peer-to-peer lending that could help millions of unbanked individuals access the financial market.

“That one thing alone, if we can solve it, will result in tens of billions, if not hundreds of billions of dollars leaving the developing world and enriching the lives of millions, if not tens of millions of people…

What I’m going to start doing, above and beyond making Cardano more competitive… is really start getting serious about things like peer-to-peer lending, and reputation and identity and insurance and payments and so forth, because if I do that I’m going to change the lives of a billion people.”

The Cardano creator and founder of the IOHK (Input Output Hong Kong) development and research team, adds that his firm is working to build out the Cardano ecosystem and expand the use-cases of blockchain technology.

“I think there’s like six different non-fungible token (NFT) marketplaces that are pitching for catalyst funds, great. And every six to eight weeks that’s going to get more and more aggressive…

We’re putting cattle on the blockchain, and that seems like a simple thing, but how do you know the steak on your plate is safe? You trust the Food and Drug Administration (FDA), but what if the beef is imported… the USDA (U.S. Department of Agriculture) didn’t exactly monitor that during its life cycle so that’s another example of a multi-billion dollar product line and a little thing that Cardano can enable and do… You know, it’s going to be a crazy ecosystem by the end of the year and it’s going to be even crazier by 2022.”

Hoskinson believes that as those building and transacting on the Ethereum blockchain realize that they can find much lower fees on Cardano, developers and users will flock to the novel ecosystem.

“And also, these [developers and users] who aren’t loyal to the Ethereum infrastructure will say, ‘Why am I running my base infrastructure on Ethereum? I should just build a bridge [to Cardano] and run my bridge layer 2.’ All these optimistic roll ups that Vitalik [Buterin] (Ethereum co-founder) is bragging about – that’s an interoperability layer for me. So it’s going to make it a lot easier for the stuff running on Ethereum to just access Ethereum markets and Ethereum people and infrastructure, but the actual transaction settlements these things will be running on Cardano.

So that’s the thing that a lot of these people don’t get about this. None of these protocols are loyal to Ethereum, they’re just there because they have first mover advantage, but the minute that the infrastructure wakes up a little bit it’s going to be a lot easier to have a mass exodus. And that’s probably what’s going to occur because why else would they want to stay if they have to pay $50 fees or $70 fees?”

l

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

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.

Featured Image: Shutterstock/ArtStudio29

Submit a Press Release

Industry Announcements

  • Core’s Revolutionary Satoshi Plus Consensus Marries Decentralization, Security and Scalability
    March 30, 2023
  • Lost Worlds Launches Version 2.0 of GeoNFTs in Web 3.0 Platform
    March 30, 2023
  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
  • Open-Source Blockchain D-Ecosystem Raises $6 Million Ahead of IDO on March 29, 2023
    March 27, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,885.47
$27,885.47
1.34%
Ethereum
$1,774.26
$1,774.26
1.48%
Cardano
$0.372538
$0.372538
3.86%
XRP
$0.536301
$0.536301
2.74%
Dogecoin
$0.07421
$0.07421
2.09%

Spotlight

  • Morgan Creek’s Mark Yusko Says There’s No Chance Government Can Ban Bitcoin (BTC) – Here’s Why
    March 29, 2023
  • Quant Trading Firm Accumulates Nearly $800,000,000 Worth of USDC and Ethereum in One Month: On-Chain Data
    March 29, 2023
  • Top Analyst Issues Bitcoin Alert, Says BTC Flashing Bearish Signal Under the Hood
    March 29, 2023
  • 687,170,000,000,000 Shiba Inu (SHIB) Now in Hands of Long-Term Holders: On-Chain Data
    March 29, 2023
NBX Warsaw Summit Banner
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

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • 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
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl