Charles Hoskinson gives Cardano (ADA) prediction, says ecosystem will become network of blockchains
Cardano (ADA) creator Charles Hoskinson makes a long-term prediction for the future of the Ethereum (ETH) rival ecosystem.
In a new video update, Hoskinson says he thinks criticisms of proof-of-stake blockchains like Cardano are often inaccurate, especially those who claim proof-of-stake chains are less accessible to the average person than proof-of-work.
Hoskinson says that anyone can buy a small computer like the Beelink GTR5 and be a Cardano stake pool operator (SPO), or someone who runs a node that keeps the stake going.
“This is one of the big differences for me, between Bitcoin mining and proof-of-work and proof-of-stake. When you see all these people in the Bitcoin world saying “well proof of stake is just a replication of central banking.” Okay, so I can go to Amazon and buy an $800 computer, read some guides and manuals, and then boom, I’m participating in this system, and it’s a replication of the World Bank system? I don’t think you fully understand how the world banking system works.
It’s much more expensive to be a Bitcoin miner and be competitive in that way and actually make money and do things there. You can certainly buy miners, but ASICs are expensive and chances are the vast majority of people doing well in that business are vertically integrated and spend hundreds of millions of dollars.
Here, a thousand and you’re in the game, and you’re well in the game. Just make sure you have a high speed internet connection, that’s pretty much it. And it’s going to grow, and get better.
So it’s pretty cool in that sense, and it makes me really excited to see where this future goes and what this future can do.”
Partly because of its accessibility to the masses, Hoskinson predicts that Cardano will eventually evolve into a large ecosystem of blockchains and sidechains running in parallel with each other.
“Cardano will eventually become a network of blockchains, so it’s not just going to be Cardano, but when you think about the sidechain side of things, there will potentially be dozens, potentially hundreds of sidechains running in parallel, all tuned in to pacific affairs. So it’s like “The Borg” going around absorbing technology, every sidechain is a blockchain and blockchain partnership. This kind of hardware can run all of this, and this kind of ecosystem can run all of this. It’s so cool, and it’s just the fruits of our labor.”
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Featured image: Shutterstock/antishock/Mingirov Yuriy
