The founder of Cardano blockchain addresses the criticism raised by the former Twitter CEO Jack Dorsey about Proof-of-stake Consensus.
On 15 September, Jack Dorsey, former Twitter CEO & CEO of Block, shared a guide with his followers on Twitter about the “Proof-of-stake (POS)” model.
The shared post includes information about the risks associated with the POS model, which is efficient & better than the Proof-of-work (PoW) model but not safe like PoW.
Charles Hoskinson, the founder of Cardano blockchain & CEO of IOHK, quoted that tweet of Dorsey and claimed that now people will create FUDs & disabilities about Cardano blockchain POS model on behalf of the problems associated with Ethereum PoS blockchain.
Indeed, Hoskinson tried to explain that Cardano’s Pos stake model is totally different from other Proof-of-stake models and also from Ethereum. In this way, the Cardano founder suggested not to compare the Problems of the Ethereum blockchain to a problem of the Cardano blockchain.
Charles Hoskinson: A founder of the Ethereum blockchain
In the initial days of the Ethereum project development works, Charles Hoskinson was one of the co-founders of the Ethereum project but he left the project because he disagreed with the team about the future use case of the Ethereum blockchain.
Later Hoskinson launched Cardano blockchain as a rival to the Ethereum blockchain.
Cardano is a highly scalable blockchain network and at present Cardano network is very near to its more important upgrade “Vasil Hardfork”.
After the successful Introduction of Vasil Hardfork on 22 September, Cardano blockchain developers will integrate Hydra protocol to allow 1 Million transactions per second through the Cardano network.