Overthrowing Bitcoin? Charles Hoskinson Says Cardano Set to Become the Next Best Crypto

Nicholas Otieno   Apr 01, 2020 05:30 3 Min Read (18).jpg

In his latest Periscope video, Charles Hoskinson, the creator of Cardano, once again emphasizes that the smart contract platform would become technologically superior to leading networks like Bitcoin and Ethereum or any other blockchain in the industry this year. Charles Hoskinson, the CEO of IOHK, who is also the co-founder of Cardano (ADA) and Ethereum, has stated that Cardano will become the best cryptocurrency in 2020. He made this revelation in a video on twitter when talking about Cardano in 2020.

Cardano best positioned to see massive gains

In the 30-minute video, Charles Hoskinson stated that although advancements in smart contracts and wallets have been revolutionary in the recent years, Cardano is pulling all the pieces together to ascend as the most advanced blockchain in the space. According to Hoskinson, the upcoming improvements will make Cardano the best cryptocurrency in the world.

Hoskinson said, “This year, the industry will see Cardano ascend to the best cryptocurrency in the world. There really is going to be nothing on the market that’s as good as what we’re delivering this year. Because at the end of the day we have it all.”

He revealed how they would have a smart contract system, identity standard, loading system, clear interoperability, multi-asset standard, and all the scalability, which is needed to meet the rising demands.

Hoskinson mentioned that from investors, traders, developers to individuals to operate or govern the platform, the company is set to become the best in class in all of those things. He said that is what the company is delivering, and that is what his team is dedicated to delivering in the entire 2020.

However, Hoskinson cautions that Cardano’s superiority in performance does not imply that it will automatically become the most widely used or popular platform. He clarified that would depend on the success of the commercial venture incubator Emurgo and the Cardano Foundation.  

Currently, Cardano stands strong with a network of scientists, engineers, and academics who are developing the platform. It is also constantly promoted, studied, and upgraded by three bodies – IOHK, Emurgo, and the Cardano Foundation.    

The Cardano Foundation is a body that continuously protects, develops, and studies the cryptocurrency side of Cardano. Emurgo is the body that focuses on possible commercial connections of Cardano to entrepreneurs. IOHK (Input Output Hong Kong) is the body that continuously maintains and designs the Cardano platform.

Cardano blockchain combines the best of Bitcoin and Ethereum

Cardano recently released a formalized description of how its unique smart contract would be upgraded in the upcoming Goguen update. The cryptocurrency is unique because it stands as the perfect mix of Bitcoin and Ethereum.

Bitcoin functions as a decentralized peer-to-peer system run by blockchain. Using the same technology, Ethereum was built as a platform which can produce its own token and uses smart contract. These contracts give tokens or apps built on the platform, which will only be done after the requirements set by the user are fulfilled. Cardano mixes these best features in its own blockchain-run smart contract platform. The crypto currently holds a great potential to become a leading cryptocurrency and software, even surpassing that of Bitcoin and Ethereum.


Image via SlidesLive

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