Cardano’s Founder Says Ethereum is Falling Behind Cardano, Criticises BTC Energy Consumption

Cardano co-founder Charles Hoskinson has said his blockchain could overtake Ethereum in the long run.

During a Yahoo Finance interview, Hoskinson denounced Ethereum’s bottlenecks like throughput and gas fees. “It’s overrated,” he added, saying that the largest DeFi ecosystem will rather fall behind Cardano.

Comments came after Hoskinson said his team will soon work on the Alonzo upgrade, bringing smart contracts for developers and competing with other DeFi networks such as Binance Smart Chain (BSC) Ethereum and Polkadot.

Ethereum is “Killing Itself”

While ETH 2.0 is on the way to solving some of the issues with the original network, Hoskinson said it will only replace ETH in the long run: 

First of all Ethereum is killing itself. They are replacing Ethereum with Ethereum 2.0. In the end ETH 2.0 will kill ETH 1.0.

Charles Hoskinson

Hoskinson said that Ethereum could only process smart contracts, while Cardano can do that with “governance and compliance”. He added that Cardano could operate with metadata besides automated regulation.

After denouncing Ethereum’s capabilities, he went on to criticise Bitcoin maximalists, comparing the required energy usage to “clear cutting of the forests in Europe in the 19th century”.

Cardano Providing Digital Identities with Blockchain

Hoskinson outlined how Cardano is helping to bring identity through blockchain, something that Ethereum “has never done”, citing Africa as an example.

IOHK, the company behind Cardano, has partnered with several countries on the African continent, including Tanzania and Ethiopia. Their goal is to provide quality internet connection after these countries have experienced large internet shutdowns, and to create digital identities through blockchain technology.