Cardano (ADA) creator Charles Hoskinson makes a long-term prediction for the future of the rival Ethereum (ETH) ecosystem.
In a new video update, Hoskinson says he thinks criticisms of proof-of-stake blockchains like Cardano are often inaccurate, especially those who claim proof-of-stake chains are less accessible to the average person. as proof of work.
Hoskinson said that anyone can buy a small computer such as the Beelink GTR5 and be a Cardano stake pool operator (SPO), or someone who manages a node that keeps the stake pool running.
“This is one of the big differences for me, between bitcoin mining and proof of work and proof of stake. When you see all these people in the bitcoin world saying “well proof of stake is just a replica of the central bank”. Okay, so I can go to Amazon and buy an $800 computer, read tutorials and manuals, and then boom, I participate in this system, and it’s a replica of the global banking system? I don’t think you really understand how the global banking system works.
It’s much more expensive to be a bitcoin miner and to be competitive in that regard and to make a profit and do stuff there. You can certainly buy miners, but ASICs are expensive and chances are the vast majority of successful people in this industry are vertically integrated and spend hundreds of millions of dollars.
Here, a thousand dollars and you’re in the game, and you’re good in the game. Just make sure you have a high-speed internet connection, that’s about it. And it will grow and improve.
So it’s pretty cool in that regard and it really excites me to see where that future is going and what that future can do.
Partly because of its accessibility to the masses, Hoskinson predicts that eventually Cardano will evolve into a large ecosystem of blockchains and sidechains working in parallel with each other.
“Cardano will end up being a network of blockchains, so it won’t just be Cardano, but when you think about the sidechain side of things, there will be potentially dozens, potentially hundreds of sidechains running in parallel, all set to peaceful things. So it’s like “The Borg” walking around and absorbing technology, every sidechain is a blockchain and blockchain partnership. This kind of hardware can run all of that, and this kind of ecosystem can run all of that. That’s so cool and it’s just the fruit of our labor.
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