Cardano [ADA]’s Charles Hoskinson discusses EOS vs Cardano, the ADA market and more

On 2nd September, an interview of Charles Hoskinson, the Founder of the blockchain firm Input Output [IOHK], surfaced online. Here, the interviewer Andrew McDonald sought Hoskinson’s opinion on several subjects, such as his viewpoint on EOS versus Cardano, trading in the market, wars on smart contract and more.

Hoskinson explained his project, Cardano, to the non-techies, stating that the project is similar to Ethereum but uses Proof-of-Stake [PoS] algorithm in order to enhance the speed of the blockchain while protecting the components of decentralization and security.

He mentioned that speed, decentralization and security are the three factors required to be balanced by a blockchain, which is not possible with the current technology. Furthermore, the technology involved in Bitcoin and Ethereum has reached a dead-end.

Switching subjects, the Founder of Cardano spoke about EOS and Cardano contrasting each other. According to Hoskinson, the CTO of EOS, Daniel Larimer created EOS using Delegated Proof-of-Stake [DPoS] with a goal to enable consumer adoption on a widespread scale.

However, the DPoS system compromises on the decentralization factor of the blockchain. Hoskinson stated that a blockchain loses the point of its creation when the developer needs to ask if centralization and control are “okay”. The blockchain expert further explained the purpose of the Cardano ecosystem wherein he stated that the blockchain has a layered architecture and is undergoing innovation.

In the interview, he also revealed his position in the cryptocurrency market and his stance on Cardano’s native token, ADA. Here, Hoskinson revealed that none of the ADA that was received has been sold since. Furthermore, he lost over $2 billion on paper and conveyed his understanding of the depression caused by bear markets. Despite this, Hoskinson suggested that short-term results should not be a factor of concern as the long-term vision and goals are the ones that matter.

Lastly, he mentioned the creator of Bitcoin, Satoshi Nakamoto and stated that he left a lesson for the cryptocurrency space by leaving the ecosystem after inventing the coin. In Hoskinson’s opinion, this taught the community ‘not to make cults’.

8SkirRoXGRsh, a Redditor and a blockchain enthusiast commented:

“charles is surgical with the blockchain”

Regarding a previous Twitter controversy surrounding Charles Hoskinson and Metamask, where the CEO was criticized for displaying arrogance and ego on the platform, a Twitter user named Huntertaker commented:

“Did he address you as “Lord and savior?””

Here, Hoskinson replied back expressing the seriousness of rude online gestures and said:

“Well it’s not funny to me. I’ve been savaged for over a month on this and it’s extremely rude, misleading and mean spirited. I consider it cyber harassment”