The founder of Cardano, Charles Hoskinson is comparing the project with Bitcoin and Etehreum.
Cardano vs. Bitcoin and Ethereum
He recently explained that it represents a generational leap in technology compared to Bitcoin (BTC) and Ethereum (ETH).
During a brand new Altcoin Buzz interview with Layah Heilpern, he described the main value proposition of Bitcoin when it was first invented.
“With Bitcoin, this was the first mover. This was the first-generation. Really it was the concept of can you have decentralized money, decentralized transfer value, decentralized ledger and somehow, someway, a dynamic and decentralized network will maintain that,” he said as cited by the Daily Hodl.
He continued and pointed out the fact that “This was not the case before Bitcoin. No one had ever pulled anything like this off…The problem with Bitcoin is that it’s very simplistic in what it can do. It’s not a criticism. It was a design feature that the architects of that system we’re trying to push.”
He went further and said that Bitcoin’s limitation of pushing value led to the creation of Ethereum.
He said that with Bitcoin you cannot issue assets, and you cannot do complex contractual relationship, nor DeFi or DApps.
This is why ETH was born, the second-gen crypto that took it all from the first-gen and made it better.
The limitations of BTC and ETH led to the creation of Cardano
Hoskinson also explained that the limitations of Bitcoin and Ethereum led to the creation of Cardano.
“So when you bundle these three things together – interoperability, scalability, and sustainability – that functionally creates what we call a third-generation cryptocurrency,” which is obviously Cardano.
He continued and praised Cardano and its capabilities.
Speaking of Cardano, ADA is now trading in the green and the coin is priced at $0.083308.
We recommend that you check out the complete video above to learn what Hoskinson had to say more.