Cardano’s Charles Hoskinson Speaks on Jack Dorsey’s PoS Criticism

The recent Tweet of Charles Hoskinson indicates that his thoughts are quite different from the Former Twitter CEO, Jack Dorsey. As Hoskinson Tweet looks like he is aiming at the Bitcoin proponent and describes that the Merge will cause an “era” at which all proof-of-stake (PoS) networks will be unfairly categorized as being similar to Ethereum.

https://twitter.com/IOHK_Charles/status/1570236759266697216?s=20&t=l6rd4kXZW3 r34 dFmFIt

The Cardano founder believes that the Ethereum merge was the most-hardest thing ever done in the crypto space. He expressed his support and congratulated the community over the successful completion of Ethereum from proof-of-work to proof-of-stake. Still, he thinks that this essential transition would prompt the Bitcoin maximalists to attack Cardano.

Bitcoiner’s Guide

Dorsey recently cited a blog post by a fellow Bitcoin maximalist, Scott Sullivan, which stated that, “Bitcoiners don’t care too much about what goes on in shitcoin-land.” Also, he continued to explain that the PoW-based systems are superior in terms of decentralization, network security, permissionless, and incentive structure. He also named the PoS mechanism as “handy-wavy.”

Sullivan further added in his blog post that, “I think this “upgrade” is still worth paying some attention to. Once Ethereum cleanses itself of the “dirty” and “wasteful” externalities from PoW, we can expect the gloves to come off in the narrative war, and I think Bitcoiners should be ready to punch back.”

The Merge has made Ethereum closer to Cardano and many other competitors that are trying to make more efficient and valuable crypto-assets that use smart contracts. But they are still very different.

The co-founder of the OG memcoin, Billy Markus, assured Hoskinson by his Tweet and said, “Don’t worry, there’s like 8 people out of the millions of people in cryptocurrency who truly actually understand anything, there are millions of people who pretend to tho.”