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

Priyamvada Singh



Cardano [ADA]'s Charles Hoskinson discusses EOS vs Cardano, the ADA market and more
Source: Pixabay

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”

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.


Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out of ‘saucer bottom’ pattern




Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out out of 'saucer bottom' pattern
Source: Unsplash

Binance Coin [BNB] is nothing short of becoming the best performing crypto asset of 2019, as it creates higher highs every day. In a recent surge, BNB went up by approximately 12% in 24-hours breaking out of the ‘saucer bottom’ pattern.

BNB has been on a bull run since December 2018, it has surged by approximately 470% since that point. In the last 24-hours, the price was up by approximately 12% from wick-to-wick.

Source: TradingView

Moreover, the rise in the price over the day can be attributed to the announcement by Binance DEX, that was launched recently. The tweet read:

The new update will convert the BNB, which is an ERC20token, into BEP2, it will be called the “mainnet swap”. Furthermore, users have to convert their ERC20 tokens on Binance, the details of which will be released in the near future.

In addition, Mithril, a cryptocurrency project has announced that it will be the first project to migrate to the Binance Chain. It tweeted:

“$MITH token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over their funds.”

A Twitter user, @carlitosblvd123, commented:

“So , all BNB we have now like erc20 in binance exchange and on trust wallet will be converted to bep2 automatically or we have to do anything to happen?”

@jigneshon, another Twitter user commented:

“Crypto Revolution will happen on 23rd April when Binance Chain Genesis block will be created. 🔥”

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