Calling the Cardano project an “ethereum killer” means overlooking most of the project’s goals and accomplishments.

The statement above was made by Charles Hoskinson speaking on the Crypto Banter podcast where he said that the Cardano project has big goals to pursue to help solve the most important problems facing the industry.

Unlike Ethereum 2.0, Cardano’s Shelly update spent five years preparing and preparing:

The launch of the second version of Ethereum 2.0 has put the eyes of investors of the entire cryptocurrency industry on the new stakes and stakes offered by Ethereum.

Noting the great media momentum surrounding the launch of Ethereum 2.0 and its speed, it can be said that it overcame its rival Cardano, who had previously announced the quota mechanism also through Modernization “Chilean”.

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But IOHK, the company behind Cardano, hasn’t stopped working on the blockchain, handling multiple multiple tasks at the same time month after month.

Hoskinson recently spoke on the Crypto Banter podcast where he shared his thoughts on Ethereum’s progress and compared Cardano’s recent success with Ethereum 2.0.

When asked how he felt knowing that Cardano had beaten Ethereum in the market for stakes, Hoskinson said:

It’s like AMD beat Intel in the market.

Noting the fact that Cardano got somewhere first is not that important, he said, what was really important was that Cardano negotiated 110 different business deals, most of them designed to benefit Cardano in the coming years.

The fact that the Cardano project can now do what Ethereum aspires to achieve in the next three years is the result of years of preparation, Hoskinson said.

The company spent five years in deep research and development to create a blockchain that would increase efficiency and decentralization as the price of the coin grew.

He has been working in Chile since 2016 in academia, and has taken nearly four years to become stable enough to see the light of day.

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This year has been very important for Cardano, as it was the first time things had been running that more than 100 people had worked over the past five years.

Hoskinson said that next year will be even bigger for the Cardano blockchain as all of its functions will be up and running.

Cardano is planned in the future to deal with billions of users:

All the work on Cardano was done with the assumption that the network could, at some point in the future, see billions of users.

Hoskinson said details about smart contract functions are scheduled to be revealed to the public soon, adding that the company was dealing with many parallel tasks.

Hoskinson noted that while there are still things to offer to Cardano, there is nothing Ethereum can do that Cardano cannot do now.

He added that this includes having a complete governance system along with optimizing the segmentation. He explained in this regard by saying:

Cardano’s ability to handle high throughput while maintaining decentralization is not the result of investing venture capital money into developing the platform.

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Rather, it is the result of a strategy by which the reach of one hundred million or one billion users has been determined

When talking about the few allocation bonuses offered by the Cardano project, which are estimated to provide returns ranging from 5 to 8 percent, Hoskinson replied:

Cardano will likely not be attractive to the high-risk audience in the decentralized finance space.

Low rewards are the “fact,” as most people would rather get a 5 percent return for 10 years on a cryptocurrency that is among the world’s top ten by market capitalization, rather than get 25 percent on a low-rated coin. It has a high chance of disappearing within a year.

The goal is not to steal projects from Ethereum, but to offer an alternative:

Part of Cardano’s long-term strategy has always been to create a way for projects to seamlessly move between different blockchains.

Enabling projects to migrate to Cardano was not an easy path, but it was a fairly straightforward path, Hoskinson told me, who stated that the company needed to solve two problems: migrating tokens between blockchain networks and migrating infrastructure.

To do this, they have built a specific platform that not only enables projects to reissue their cryptocurrency on Cardano, but also gives them the ability to choose how to do so.

DAP issuers who currently live on Ethereum can decide if they want to perform an airdrop on Cardano.

Giving developers the ability to have their cryptocurrency on two or more networks at the same time is great for monetary policy, Hoskinson said.

Hoskinson expects projects to continue to be launched on Ethereum, but added that in the long term, more of them will be migrated to Cardano.

Most developers will still want to use Ethereum to take advantage of its network effect, but then choose to move to a cheaper and more efficient chain once they grow to a certain point.

Cardano’s low migration curve, along with the help they’ll get from the company, are the focal points of the upcoming ERC-20.

However, Hoskinson does not want Cardano to become a closed ecosystem.

He said it would be a bad deal to shut down vendors and prevent projects from accessing the benefits of other networks, which is why a lot of resources are currently being allocated to support interoperability across different blockchain networks.

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