Charles Hoskinson, founder and CEO of IOHK behind the Cardano project, suspects that upgrading Ethereum 2.0 will lead to higher throughput, better scalability, and more security for Ethereum, which he calculates will highlight Cardano’s superior design in decentralized finance. DeFi.

DeFi and Dapps are the target markets for Ethereum and rival smart contract blockchains like Cardano.

Currently, DeFi projects are intrinsically linked to Ethereum, with the vast majority of DeFi protocols running on the Ethereum blockchain.

In an interview on Friday, February 5, Hoskinson explained that the slow build-up of Cardano has led to a simpler and more powerful design of Ethereum that will make it easier to tap into the DeFi space.

Read:Rwanda is preparing to open a private blockchain school and will offer 5 distinct educational programs

Cardano is now getting closer to DeFi after the recent successful update and upgrade of Meri.

Hoskinson predicted that the ADA blockchain would be able to compete with Ethereum as a smart contract platform.

Ethereum 2.0 will have strong competition from Cardano:

Cardano’s “Miri” update was successfully published last week with the first fork, which will open up a world of possibilities for the DeFi ecosystem to support.

Cardano’s design is superior to Ethereum because it removes a layer of complexity as cryptocurrencies will be able to interact directly with the blockchain.

Hoskinson said in the interview that from an engineering point of view, Ethereum’s design is fragile, and Ethereum’s complex approach brings with it many trade-offs, including its ability to withstand node failures and the potential for new impacts.

Therefore, such issues are difficult to solve in the Ethereum 2.0 update.

Hoskinson went on to explain:

They’ve put themselves in a position where they’re betting on ZK-Rollups, hash technology, and many other things, and that’s very fragile and fragile.

What is known is not good yet […] They’re actually going from half to a third of the Byzantine fault tolerance, there are availability issues, and there will likely be all kinds of new attacks that are going to happen.

Read:After Elon Musk’s acquisition talks progress on Twitter…Will Dogecoin be Twitter’s original digital currency?

Hoskinson added:

The design differences between the two put Ethereum on the back foot.

Ethereum is actually fragile.

“Charles Hoskinson” stinging statements towards Ethereum, which he co-founded at some point, as he separated from it and went to establish the Cardano project, whose digital currency ADA became the fourth largest cryptocurrency in terms of total market value.

Read also:

Will Coinbase’s upcoming IPO lead to better regulation of the US crypto market?

What is the explanation for the dominance of Asia in the field of cryptocurrencies?