Cardano’s Charles Hoskinson Hits Back at Jack Dorsey Over PoS Debate
Sullivan's blog post criticizing PoS is a month old, but Dorsey's timing couldn't have been better.
Cardano is a public blockchain working under the Ouroboros Proof-of-Stake algorithm. It’s touted to be the first one to have been founded on peer-reviewed research. It was founded by Charles Hoskinson – a mathematician who also co-founded Ethereum.
Cardano is also developing a smart contract platform that is supposed to deliver more advanced features than its competitors. It should serve as a stable and secure platform for developers to create enterprise-level decentralized applications (dApps).
Cardano was primarily initiated as a two-layer protocol that separates the ledger of the accounted figures from the reason for which these figures are passed from different accounts.
This distinct separation lets the smart contracts (still to be deployed) on the platform be more compliant.
Cardano works through the Ouroboros Proof of Stake (PoS) algorithm. The core innovation that Ouroboros introduces beyond security is a modular and flexible design that enables the composition of many protocols to enhance the overall network functionality.
ADA is the native token of Cardano. Interestingly, it’s named after Ada Lovelace – a 19th-century mathematician who is recognized as the very first computer programmer, also the daughter of the poet Lord Byron.
Every ADA holder also holds a stake in the network. Token holders can also delegate their tokens into a staking pool and earn rewards and participate in the governance of the blockchain.
Going forward, once Cardano’s smart contracts are live, ADA should also be usable for a variety of applications and services.
It has become one of the world’s largest cryptocurrencies, with a total supply of 45 billion.
In 2021, Cardano moved closer to integrating smart contracts on its network and continued with the new developments, in general.
On March 1st, the team launched the Mary update. It introduced core Goguen features of native token functionality and multi-asset support. On the other hand, Goguen is a major upgrade stage on the Cardano roadmap that introduces smart contracts and also the ability to build decentralized applications.
Sullivan's blog post criticizing PoS is a month old, but Dorsey's timing couldn't have been better.
Charles Hoskinson believes that Bitcoin's switch to a new protocol is necessary for its survival.Â
After comparing Solana to an old Nintendo console, Charles Hoskinson has lashed out at Ethereum Classic.Â
Vasil, the upcoming hard fork of the Cardano blockchain is around the corner and will be deployed this month just
75% of nodes must be on the newest version before the Vasil hard fork can be implemented.Â
Hoskinson says the V1.35.3 code has been thoroughly tested, and retesting it will only hurt DApps developers.
The Vasil hard fork is seemingly around the corner for Cardano, but will it be a turning point for the
The Vasil hard fork is one of the most highly-anticipated upgrades for Cardano. Here's everything there is to know about
The Vasil hard fork may be a few weeks away but data suggest that ADA may be overvalued.Â
After allowing investors to earn ETH through Ethereum staking, the bank has now done the same with Cardano ADA.