First and foremost, Hoskinson chastised Bitcoin’s network for being too sluggish in comparison to Ethereum. Alternative proof-of-stake networks, according to the Cardano creator, outperform Bitcoin in terms of speed and usefulness. Bitcoin’s core proof-of-work method, in particular, was chastised.
According to a guest on the show, the Bitcoin community is mainly to responsible for the present predicament owing to the network’s secondary scalability and conservative beliefs.
Bitcoin, according to Hoskinson, is its own greatest enemy. Bitcoin has a brand identity, network effects, and governmental clearance. However, there is no way to modify the system, not even to remedy the system’s glaring faults.
In contrast to Bitcoin, Cardano’s creator highlighted Ethereum’s flexible development culture and depth of growth as advantages. He pointed out that while Ethereum has grown to the size of the Bitcoin network, it has a flexible development culture that embraces change. Hoskinson also stated that if a battle were to break out between the two (Bitcoin and Ethereum), he would bet on Ethereum to win. Because he would be certain that Ethereum would win in 9 out of 10 situations.
In summation, he stated that the war in cryptocurrency is still in its early stages, with numerous blockchains currently vying for a significant portion of the blockchain industry. Nonetheless, Hoskinson pointed out that Cardano is a genuine rival in this fight against everyone else.