Top Companies Choose Cardano Over Ethereum, Says Charles Hoskinson

Top Companies Choose Cardano Over Ethereum, Says Charles Hoskinson

March 15, 2021

The founder of Cardano, Charles Hoskinson in a recent interview with Bloomberg expressed the ambitious developments and prospects for the platform. Hoskinson revealed that over 100 companies are in the process of moving from Ethereum to Cardano.

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Moving further, he speaks of his aspiration for the Defi platform. He was of the opinion that his blockchain has the potential to outperform the market leader Ethereum

“You can take your Defi and you can run it on my system for 1/100 to 1/1000 of the cost” 

Hoskinson in the interview is seen to be assertive of the largest Dex Uniswap, and popular DApp cryptokitties equating them to pet rocks and beanie babies.

“I don’t care about Uniswap cryptokitties and other things. It’s a bubble and it comes and it goes like pet rocks and beanie babies”.

Hoskinson views a wide range of possibilities than just beating Ethereum. He believes his Defi platform could run whole nations on the blockchain.

Can Cardano Take over Ethereum?

There have been conversations in the market for the possible shift to the Cardano platform by various firms. In a recent development, there was news of Singularity NET, the decentralized marketplace for AI algorithms, the social humanoid robot Sophia was ‘seriously discussing’ shifting to Cardano.

Yet, all is not rosy for the platform. Despite surging high and achieving to become the third-largest cryptocurrency by market cap, there have been concerns of the blockchain being just vapourware.

Recently CoinMetrics Nick Carter pointed out that the blockchain doesn’t have a single popular application on it.

“I am not aware of a single popular application deployed on Cardano, nor have I seen any enthusiasm for the platform among developers”.

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