Cardano Founder: “Bitcoin is a Terrible Platform for Innovation”

Father of Cardano, Charles Hoskinson, has berated the first cryptocurrency Bitcoin for its nature, declaring that ‘Bitcoin is a terrible platform for innovation.’

Hoskinson who is also the CEO of Input Output Hong Kong (IOHK) made assertion in response to a Twitter thread where it was suggested by cryptocurrency enthusiast Andrea Buteer that Ethereum would have been better if developed on Bitcoin.

Buteer claimed the cofounder of Ethereum Vitalik Buterin was not a good programmer. He said Buterin should have built his blockchain network on Bitcoin protocol.

Buteer further explained that Bitcoin is like an angel among blockchains as it posses pure and honest goals with no intentions to ever steal from anyone. He reiterated that other coins like ETH, ADA, and XRP were developed with a different intention which was to enrich the creators and founders.

However, the Cardano boss in his response explained that developing Ethereum Blockchain on top of Bitcoin network was impossible at the time of developing ETH, as some companies like rootstock have been working on developing a similar project on Bitcoin for more than five years without a tangible result.

Charles Hoskinson proceeded to emphasized that the Bitcoin Blockchain is not suitable for invention and creation, pointing out that it is terrible platform for innovation. Charles averred that Bitcoin network was not developed for change.

Earlier in the Twitter thread, the CEO of Blockstream blockchain platform, Adam Back, said Cardano blockchain is a ponzi scheme. Back compared Cardano to Bitconnect, a cryptocurrency project alleged of running a ponzi scheme after it abruptly shutdown in 2018.

Back who stands the fonder of Blockstream also group Ripple, Stellar, Ethereum and EOS in the same category.

Cardano to Trail Ethereum as a Smart Contract Platform – Quantstamp CEO

Yesterday, NewsLogical related that the Quantstamp CEO, Richard Ma, opined that Cardano (ADA) will in a short while become the second-largest DeFi platform ahead of Tezos, and it will trail Ethereum.

Ma argued that the Cardano source codes are among the best in the crypto space. He went on to mention that there are lucid advantages offered by the Cardano Network that sets it an edge ahead of rivals in the blockchain industry.

He further highlighted that the Cardano network has put numerous internal efforts in place to enable it execute projects that would be similar to the ETH 2.0 in term off quality.