According to the founder of Cardano, the Ethereum blockchain network appears to be mirroring Cardano’s existing structure, as its co-founder attempts to restructure one of its most notable features. Hoskinson is convinced that Cardano has never been credited for its position in the industry as a prototype.
In a recent post shared to X, formerly Twitter, Charles Hoskinson has made some remarkable statements on the perceived impact that Cardano has had in the blockchain industry.
The Ethereum community has failed to commend Cardano as an innovative solution, despite Ethereum’s attempts to reframe its network by replicating the features that Cardano has previously integrated into its platform.
“..I am truly at a loss that Cardano can never be mentioned as an innovative ecosystem on team E. V is rediscovering what we’ve been working on for almost a decade and it’s like a new revelation. It’s extraordinary that we never get a shout-out.” Hoskinson wrote.
His statement was made in response to criticism from an X user who claimed that Hoskinson’s recent remarks to Vitalik Buterin could fuel hostility between both communities.
While Hoskinson denies this, he maintains that Ethereum’s current version is still behind on innovation. Notably, a Cardano user shared a clip from a recent interview with Vitalik Buterin.
In the interview, Buterin highlighted the importance of solving the problem of centralization within the staking ecosystem. He added that the structure of staking pools and the difficulties surrounding solar staking have made staking less healthy.
To alleviate these issues, redesigning the staking system. He proposes introducing a UTXO (Unspent Transaction Output (UTXO) permit system to the network. It bears mentioning that Cardano already utilizes an extended UTXO model, known as the Extended-UTXO (EUTXO).
Buterin further observed that transferring funds would become even more decentralized under the UTxO approach.
As he explained,
“It’s [UTXO] like a virtual coin where I get a new coin if you pay me money. If I pay you money, I get to break up one of my new coins that are smaller, and then, I get back one of the coins. You get a totally new coin that gains the money you need.”
Using the UTxO approach, user coins will never be at risk of being changed without their consent. On the other hand, a balanced-based system can only track the amount of funds in a user’s possession.
Balanced systems do not offer the same properties as a UTxO permit system. User funds are subject to external change, with or without their consent.
