Cardano (ADA) founder Charles Hoskinson recently stated in Token 2049 that Cardano is currently in the Voltaire (which allows community members to vote to determine the future development of the blockchain) period. In order to avoid being dictatorial like Ethereum, Also avoid anarchy like Bitcoin.
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ToggleSlams Ethereum for over-reliance on Vitalik
Hoskinson, who was once one of the founders of Ethereum, eventually parted ways due to disagreements with Vitalik's ideas. Now I’m back to criticize Ethereum’s governance model. Hoskinson believes that Ethereum relies too much on Vitalik's decision-making, and thinks why not just keep it simple like Bitcoin? Or elect a " real leader " to govern.
Propose a new governance model for ADA to avoid becoming Bitcoin and Ethereum
Hoskinson added that Cardano’s new governance model is to appoint representatives and the community member organization “ Intersect ” to jointly solve the trilemma of “efficiency, effectiveness, and integrity”, simplifying governance issues and voting . This will prevent Cardano from falling into the " anarchy " of Bitcoin and the " dictatorship " of Ethereum. It will not only integrate all opinions but also allow Cardano to move in a clear direction.
What will the future be like if Vitalik leaves Ethereum?
But when Hoskinson was asked to explain what " dictatorship Ethereum " was, he said: " Although the entire Ethereum started with him, it also ended with him. " He added that everyone is now looking to Vitalik for inspiration and a roadmap. , and he is also the only person with enough influence to unite everyone. " But if he leaves the team now, what will the next hard fork of Ethereum look like? How quickly can the goal be achieved? "
Hoskinson pointed out that Ethereum is putting the cart before the horse and increasing the burden on users
Hoskinson said that Vitalik was mainly responsible for changing the Ethereum roadmap, but he changed the original expansion method based on sharding to rely on rollup L2 to improve the scalability of Ethereum .
In recent months, Ethereum’s roadmap has been criticized for its over-reliance on “extractive L2 solutions,” leading to a decline in fee revenue and activity on the main chain’s L1.
He also wondered: " Where did these ideas of embracing L2 and proposing rollup come from? Is it an Ethereum engineer? Or did Vitalik write an article on this topic? "
(Ethereum developers talk about development difficulties and reveal that Ethereum is off track)
Focus on decentralization and continuous innovation, and formulate regulations and specifications
Hoskinson also admitted that he played a role like Vitalik when building Cardano, but he emphasized that Cardano's new governance model was designed to ensure that " it will not have an impact whether he exists or not, and innovation will continue. " Cardano passed 9 With the Chang hard fork in March, ADA became a governance token, allowing holders to participate in elections and have the opportunity to serve as representatives and vote on development proposals and project funds. However, the system upgrades and hard forks led by the Cardano Foundation, IOHK and Emurgo in the past can no longer be triggered.
Hoskinson said that the collaborative model of Intersect’s organization and delegated representatives allows the system to continue to operate in a decentralized manner even if no one is in charge. Cardano is currently developing a charter to clearly regulate ADA supply and governance.
Cardano’s slow development and impractical application make the future worrying
Although Cardano claims to be developed in a scientific manner and emphasizes the use of rigorous academic and research methods, the development of the project is slow, out of touch with market demand, and has been widely criticized. Such as exaggerating actual adoption ( Ethiopian education system ) and insufficient activity ( Cardano’s DeFi lock-up volume is much lower than Ethereum and Binance Smart Chain ).
As well as the delay in smart contract functions ( Alonzo upgrade ), the backward development of the NFT ecosystem, and the results of some cooperation projects are not as good as expected, making people wonder why they always take the BTC? As for the future of Cardano, just wait and see.
( The founder of BitMEX blasted ADA as shit and shouted to Charles Hoskinson: Go buy some ETH )
