There are projects that have been able to impose themselves on the crypto arena and advance to high ranks in terms of evaluating their projects and in terms of the total value of their currencies.

Ethereum and Cardano are both considered among the most prominent and famous crypto projects, and both are similar in terms of purpose and method of work, and both of them also enjoy constant updates.

Recently, we reported on the Arab Bitcoin website about the preparation of Cardano to launch the “Chile” update, thus increasing the intensity of the competition between it and Ethereum, which is also preparing to switch to Ethereum 2.0, which is one of its most prominent features that it will depend on the quota proof mechanism instead of working as it is now.

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Recently, Charles Hoskinson, CEO of IOHK and co-founder of Cardano, appeared in broadcast live In a recent interview, he shared his thoughts on how Cardano differs from other chains, and how Cardano can catch up with Ethereum in terms of network impact.

Hoskinson noted that Cardano has made its way through various bumpy times by taking Bitcoin’s positives and repeating in terms of how it works.

However, he indicated that the mechanism of proof of work with Bitcoin is not possible to adopt in Cardano, and stated what it means:

We would like to take advantage of the Proof of Stake mechanism.

This mechanism provides extremely fast transactions, low power consumption, and runs the entire system on 10 kilowatts of power.

The fact that you have external security outside the system puts you in a really good position to start improving around the quota pool model.

Despite the continuous development of the Cardano project and often described as the “Ethereum Killer”, Ethereum’s impact is so huge that Cardano cannot catch up, at least for the time being.

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But Hoskinson was very positive about it and made a clever saying:

One has to change the game to win the game.

He added:

First in terms of attracting the developer pool, if you break it down, you have functional imperative, blockchain, off-blockchain functionality, we have to get them to embrace that framework.

This is across the blockchain that will bring tens of thousands if not hundreds of thousands of developers into the ecosystem.

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On the other hand, if Ethereum 2.0 launches as scheduled in 2020, things could become difficult for Cardano as Ethereum will also switch to PoS and privacy features will also improve along with solving scalability issues.

So Ethereum is in a much safer position right now if you release the upgrade and update as scheduled.

But if you’re late again,

There is a high possibility that Cardano may end up taking over the Ethereum stake even in terms of network influence in the near future.

The competition between similar blockchain projects would improve the overall crypto market and make it progress rapidly.

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