Frederik Gregaard shared several high-class use cases of the Cardano blockchain and also talked about the challenges associated with Layer-2 protocols.
Frederik Gregaard is CEO of Cardano Foundation, an independent, Swiss-based not-for-profit organisation focused on working in favour of Cardano blockchain network adoption. Without the leadership of Gregaard, Cardano is nothing in the practical world. Gregaard has an impressive history of work within the fintech sector.
Recently the Cardano Foundation CEO appeared in an interview with The Fintech Times. In the interview, the Cardano Foundation CEO said that Cardano Foundation contributed to the physical world and also stepped forward to support environmental health by planting 1 million trees in collaboration with Veritree.
Following the publication of its 'Cardano: Slow and Steady Scales the Chain' report, we sat down with @Cardano_CF to learn more about the organisation and how the #blockchain has developed. https://t.co/BKJnAcNEaI pic.twitter.com/zM4bixcyxm
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— The Fintech Times (@thefintechtimes) May 10, 2023
The CEO said that Cardano allows verifying the quality and authenticity of Georgian wine. In collaboration with Georgia’s National Wine Agency, people can verify the quality of wine products easily because of Cardano blockchain technology.
On the Layer-2 protocols concepts & Cardano Dev’s efforts to increase the network scalability & efficiency, Gregaard said that we cannot achieve a very high level of scalability with the help of Layer-2 protocols because that will degrade the confidence of crypto network users citing low decentralisation level of the network.
So according to Gregaard, scalability & efficiency can be easily achieved with Layer-2 protocols but it will not remain decentralised like the nature of transactions on Layer-1 networks.
Solana, PoH, & Criticism
Solana is a popular Proof-of-stake (PoS) crypto network and this crypto network is known for its unique layer-2 scaling protocol Proof-of-history (PoH).
The current scalability of the Solana network is nearly 60k TPS, which is top in the Crypto sector & no one crypto network is near this level of scalability.
Around two years ago, Solana co-founder said that the Solana team was focussing on network efficiency & scalability over decentralized nature.
Solana’s co-founder passed a bitter but real statement over the Layer-2 protocols but still, the majority of the people criticised him for that statement.
Read also: Cardano dev says Hydra can’t process transactions at 1M scalability
Cardano Foundation boss says L-2 scaling increases centralization in the network
https://bitcoinik.com/cardano-foundation-boss-says-l-2-scaling-increases-centralization-in-the-network/feed/
https://bitcoinik.com/cardano-foundation-boss-says-l-2-scaling-increases-centralization-in-the-network/feed/
