Founder of Cardano ($ADA) Says Ethereum ($ETH) Is “Becoming the Hotel California of Crypto”
On Friday (September 16), Charles Hoskinson, who is the co-founder and CEO of Input Output Global (“IOG”), the blockchain technology company behind Cardano’s R&D, expressed his disappointment with Ethereum’s staking model.
It all started on Thursday (September 15th), when a Cardano fan pointed out that Kraken has recently told its users that $ETH unstaking will not be available until Ethereum has its Shanghai protocol upgrade, which is expected sometime next year.
Hoskinson then sent out a tweet mocking Ethereum’s proof-of-stake (PoS) model by subtly noting that Cardano’s PoS design and implementation does not suffer from this problem: