Why Hoskinson says Polkadot, Cardano and Ethereum can all coexist

Spread the love

According to Cardano Creator Charles Hoskinson, there is room on the market for more than one smart contract network.

In a recent interview, Hoskinson said, “ I think there’s definitely room in the marketplace for several strong protocols.”

Highlighting the co-existence of a variety of major tech firms, such as Google, Apple and Microsoft, he said that it is entirely possible that Ethereum, Cardano, Polkadot and others will all exist concurrently.

According to him, together they will represent a broad application ecosystem in what he argues would eventually be a multi-trillion dollar industry.

Cardano, Polkadot, and Ethereum were frequently pitted against each other, and Cardano and Polkadot were often referred to as ‘Ethereum Killers.’

Ethereum remained the most powerful network, considering the persistently high gas charges on the Ethereum network and the scalability problems currently in fairly nascent phases.

Ethereum advocates have indicated that this is an indication that the consumer is already expressing its choice. Hoskinson is not worried about this, arguing that Cardano and Ethereum are focused on different populations.

RECOMMENDED READ:   Cardano  in negotiations with the top ten NFT marketplaces; but what for?

“Theres a big emphasis in the Cardano project for the developing world. We care a lot about economic identity and we say how do we do remittances and microfinance and insurance”, he said highlighting Cardano’s presence in Africa and Mongolia.

Ethereum focuses on Europe and North America, said Hoskinson who added, “They focus a lot on traditional finance and a lot on disrupting the Fortune 500, so we’re kind of focusing on slightly different customer bases in a certain respect.”

Earlier today, the IOHK Foundation officially stated the ‘Mary’ Cardano protocol update for March 1. The update will bring native multi-asset support and new use cases to Cardano.

 534 Interactions,  4 today

Polkadot Price Movement Analysis for 16th April, 2021

Following a time of high uncertainty in the cryptocurrency industry, the majority of altcoins are now attempting to regain their Read more

Cosmos, Polkadot, Zcash Price Movement Analysis for 14th April, 2021

Bitcoin, the world's biggest cryptocurrency, soared from under $60,000 to over $64,500 in less than 48 hours, riding a significant Read more

Aave, Dash, Polkadot Price Movement Analysis for 12th April, 2021

Aave had made some sluggish progress after the $345 safety, while Dash was in a solid uptrend and attempted to Read more

Chiliz , Dogecoin, Polkadot Price Movement Analysis for 11th April, 2021

Chiliz moved rangebound and was supposed to stay within a fixed channel in the short term. Dogecoin reached yet another Read more

Polkadot, VeChain, SushiSwap Price Movement Analysis for 10th April, 2021

Polkadot could soon convert the $42 level to help and begin to rise. SushiSwap was heading downward but could display Read more

Polkadot, Crypto.com Coin [CRO], Synthetix Price Movement Analysis for 9th April, 2021

Historically, the altcoin sector has seen a close association with Bitcoin's price results. However, over the last few days, multiple Read more

RECOMMENDED READ:  Bitcoin price hits $18K but traders expect ‘shallow’ pullback before new high
Polkadot Price Movement Analysis for 8th April, 2021

Since the beginning of the year, the Polkadot market has increased in volume by at least 368 percent. Though it Read more

Polkadot, Synthetix, DigiByte Price Movement Analysis for 7th April, 2021

Through most of April, the dominant trend has been set by the market's altcoins, with much of the industry's cryptos Read more

Polkadot futures open interest approaches $1 billion as the DOT price hits a new peak.

Polkadot futures open interest surpassed $1 billion, surpassing Litecoin and XRP to become the third-largest futures exchange. Polkadot's DOT token's Read more

Ethereum Classic, Polkadot, VeChain Price Movement Analysis for 6th April, 2021

One of the crypto-long-standing market's certainties is Bitcoin's association with the industry's altcoins. As has always been the case, the Read more

Polkadot Price Movement Analysis for 3rd April, 2021

The ETH/BTC pair has stopped trending downward and has actually made gains in recent days, flashing a buy signal across Read more

Leave a Reply

Contact Us