Why Hoskinson says Polkadot, Cardano and Ethereum can all coexist

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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.

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“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.

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