Hoskinson explains that Cardano has the best code ever written in the history of computing.
According to the CEO of IOHK, Cardano eliminates all the teething problems and problems that Bitcoin and Ethereum bring.
Cardano is known as the third generation blockchain. It is credited with the potential to surpass all previous projects. Although Cardano has made great strides in the past few weeks and months, Cardano is still far from reaching its goal with the launch of Shelley. However, in a new interview, Charles Hoskinson did not miss the opportunity to explain why Cardano is superior to cryptocurrencies like Bitcoin and Ethereum.
Bitcoin and Ethereum gave birth to Cardano
Hoskinson describes how Bitcoin , as the world's first cryptocurrency, has paved the way for a new industry that will deeply influence and change the financial and value system of our society. Bitcoin can irreversibly transfer values decentralized using the blockchain, but Bitcoin has no other functionality so far:
This was not the case before Bitcoin . Nobody had ever gotten anything like this ... The problem with Bitcoin is that it is very simplistic in what it can do. It is not a criticism. It was a design feature that the architects of this system were trying to push for.
The limits of the ecosystem Bitcoin has led to the birth of Ethereum . The cryptocurrency around the founder Vitalik Buterin offered the possibility of issuing assets on the ETH blockchain , of regulating ownership and of developing the prospective sector of decentralized finance:
With Bitcoin , you cannot issue assets. You cannot make a complex contractual relationship. You can't do DApps and DeFi and all of those things.
Although Ethereum already offers much more complex use cases, there are still limits because, according to Hoskinson, Ethereum is very difficult to exchange enough data with external systems and scales. Among other things, this limitation led to the start of the Cardano project . Hoskinson says it takes three things to design a third generation blockchain:
So when you combine these three elements - interoperability, scalability, and sustainability - it functionally creates what we call a third generation cryptocurrency.
To achieve this goal, Cardano took all the important features of Bitcoin and Ethereum and improved them with important functions. Hoskinson summed up that Cardano is moving ahead faster than any other project and has the best code in the world based on the same quality standards as NASA or SpaceX:
We accelerate and accelerate and we do it with some of the highest quality code that has ever been written in the history of our space because we use Rask scientifc Haskell language and we use the same engineering standards as La NASA uses and SpaceX uses for their rockets.
Cardano Virtual Summit will be a bullish event for Cardano
Hoskinson added that more than 100 renowned speakers have announced their participation in the Virtual Summit, which will take place on July 2-3, 2020. In addition, Cardano's new multi-asset standard will be presented at the online event
You can register for the event for free. You can watch the full interview below.