Cardano founder responded against a Bitcoin developer, in support of the Proof-of-stake Consensus model of blockchain Networks.
Charles Hoskinson is the founder of Cardano blockchain and he is CEO of IOHk, a developer team behind Cardano blockchain. In the past, he worked with Vitalik Buterin, co-founder of the Ethereum blockchain. Hoskinson was actively working on the Ethereum project but left because of the disagreement of his thinking with Vitalik. Indeed Hoskinson was looking to make Ethereum a commercial crypto project but Vitalik refused & said that they will make Ethereum only a non-profitable public crypto blockchain network.
A couple of days ago, Jimmy Song, tweeted that Proof-of-stake (POS) consensus is not a better model, in terms of decentralized nature. Jimmy tried to explain his point of view on this matter on behalf of the Byzantine Generals Problem.
Song said:
“Proof-of-stake does not solve the Byzantine Generals Problem. Therefore, it does not provide a decentralized consensus. If you didn’t understand this tweet, then you are completely unqualified to make any claims about proof-of-stake.”
Cardano founder Hoskinson responded and said that we can’t explain beyond the level of stupidity. In short, Hoskinson indirectly called Song a big stupid person.
Before Hoskinson, Vitalik Buterin responded to this point of view of Song. He attached a detailed explanation through the tweet and also shared an explanatory article.
Ethereum rival POS consensus-based Cardano blockchain
Cardano is a top 10 ranked crypto project. Initially, the Cardano blockchain was launched in 2017 as a rival to the Ethereum blockchain network.
Here Cardano blockchain is running on Proof-of-stake consensus, so easily creates competition against Ethereum. On the other hand, Ethereum is currently running on Proof-of-work consensus, which is less efficient than Proof-of-stake.
In late 2022, Ethereum will also run on Proof-of-stake consensus. At present, the developer team working hard to shift the Ethereum blockchain from Proof-of-work to a Proof-of-stake model carefully.
Read also: Circle co-founder response on USDC trouble rumors
Hoskinson joins Vitalik against Bitcoin developer J. Song
https://bitcoinik.com/hoskinson-joins-vitalik-against-bitcoin-developer-j-song/feed/
https://bitcoinik.com/hoskinson-joins-vitalik-against-bitcoin-developer-j-song/feed/
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