CEO of the Hong Kong blocking company IOHK, Charles Hoskinson believes that the Cardano project he created has all chances to get around bitcoin and Ethereum in the competition - the two leading crypto-currencies in the world. This is written by Bitsonline.
"We work tirelessly and move much faster. Ethereum is developing Casper, its own proof-of-stake consensus algorithm, for about three years now. We are working on our Ouroboros consensus algorithm for a year and a half and have made much progress, already having a working network for proof-of-stake, "Hoskinson said.
One of the benefits of Cardano is its developers also called the proposed compatibility with other blockboys, and as Hoskinson says, Ethereum smart contracts can be more reliably deployed on the Cardano platform.
"If you are a developer of smart contracts, today you can do everything on Ethereum, and when our layer is ready, deploy your smart contract on our system. Everything will be safer, faster and cheaper than Ethereum, "says the head of IOHK.
Moreover, if such a scenario takes place, Cardano, according to Hoskinson, can not only bypass the popularity of Ethereum, but, perhaps, even rival even with bitcoin.
"Regardless of the weight category, we will be better than Bitcoin and Ethereum," he added.
The underlying technology of Cardano's Ouroboros technology is written in the Haskell language, which in itself is considered reliable in terms of security and contains a small number of bugs and errors. In the second quarter of 2018, the Shelley protocol should replace Ouroboros, after which the next step for Cardano will be the addition of a layer of smart contracts. According to developers, this will happen approximately in September 2018.
Earlier this month, on the integration of the Cardano (ADA) crypto currency into Finney's crypto smart phones, the Israeli startup Sirin Labs was announced.