Beyond Bitcoin: Charles Hoskinson's View of the Future of the Crypto Industry
Date: 2024-05-24 Author: Henry Casey Categories: BUSINESS
Charles Hoskinson, CEO of IOG, expressed his criticism of Bitcoin followers, comparing their devotion to religious beliefs. In his latest interview, he emphasized that the modern crypto industry has already grown out of the shadow of the first cryptocurrency.
Industry Evolution
Hoskinson argues that the crypto industry no longer needs Bitcoin to survive. He recognizes BTC's value and reputation, but argues that its deflationary policies ultimately limit its value. Bitcoin's limitations associated with its proof-of-work algorithm are also criticized.
Cardano Supremacy
Unlike Bitcoin, Cardano (ADA) operates on a proof-of-stake consensus algorithm. This allows us to solve scalability problems and ensure the sustainability of the ecosystem. ADA ranks eleventh in the ranking of cryptocurrencies by market capitalization, and its value has increased by 1.5% over the past week, while Bitcoin has gained 4.2%.
