Ethereum will peak in less than 2 years, but Cardano is making strides too: Charles Hoskinson

Charles Hoskinson said that the decentralized computing platform Ethereum would continue to grow as it peaked in late 2022 or early 2023. However, Cardano is also on the rise and aims to bring blockchain solutions to millions of people.

Vitalik’s youth and wealth are the greatest advantages of Ethereum

In an interview for Bloomberg, the founder of the proof-of-stake platform Cardano – Charles Hoskinson – predicted a rather bullish future for Ethereum. The American entrepreneur, who is actually one of the co-founders of the project, believes it will continue to evolve and peak in early 2023.

However, he argued that Ethereum’s success was due not to the technology itself, but to the youth and wealth of Vitalik Buterin. Support from large corporations and people with a lot of money would also be beneficial for expansion:

“Vitalik is a little boy. He will use his youth and wealth for things he believes are right for his ecosystem. And there are a lot of people that they work with like ConsenSys etc that are definitely big companies and they have lots of people and money too. When you have that kind of momentum something will happen. “

Hoskinson also spoke about Cardano’s ongoing initiative in Ethiopia aimed at creating a blockchain-based national ID and achievement tracking system for five million students. He explained that the move was already very successful with almost a million people on board. In addition, Cardano plans to expand Ethiopia’s entire ID system:

“Our intention is to compete, among other things, for the entire national ID system, which includes around 110 million people.”

Still, according to Hoskinson, the Cardano project or any other blockchain platform would not work properly in countries where human rights are neglected, such as China and Saudi Arabia. In fact, the governments would abuse these solutions and even “arm” them against the local population.

Charles Hoskinson, source: Wikipedia

Ethereum is good, but is it better than Cardano?

Despite this optimistic forecast for Ethereum, Charles Hoskinson has always praised Cardano as the better blockchain solution in the past. A few months ago he even pointed out three main reasons why his project is superior to its competitor.

First, Ethereum can only process smart contracts, while Cardano can do that with governance and compliance. Hoskinson added that his project could work with metadata as well as automated regulation. In addition, it can give identity to the blockchain system.

Second, Cardano was built as a collection of protocols to provide economic support to billions of people, especially in poor regions. Ethiopia, Tanzania and Georgia are examples where the network has worked with local governments for the benefit of their citizens. In comparison, he mentioned that Ethereum had never done anything like it.

Third, Hoskinson said that Ethereum has a very confusing structure and the upcoming release of ETH 2.0 will lead to the demise of the entire network.

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