Saturday, April 10, 2021

Charles Hoskinson: More Than 100 Companies Are Looking to Move from Ethereum to Cardano

The 33-year-old CEO of IOG, Charles Hoskinson, who is the creator of Cardano (ADA), has revealed that more than 100 companies are looking to move from Ethereum to Cardano when the network becomes mature.

In a recent interview with Bloomberg, Hoskinson spoke about his increased popularity, thanks to the success recorded on Cardano (ADA) lately.

Read Also: Charles Hoskinson Narrates Why 7 of the 8 Founders of Ethereum (ETH) Left

Hoskinson said, “That’s the most surreal part of all of it, I get recognized at airports.”

As it is currently, Cardano is still an emerging smart contract platform. It continues to release its products steadily. From Shelley in July 2020 to Mary hard fork of 1st March 2021. More products, such as Goduen implementation, that will introduce smart contracts and other functionalities into the blockchain are still upcoming this year.

Due to the fact that the blockchain project is still a work in progress, Nic Carter, co-founder of researcher Coin Metrics said, “I am not aware of a single popular application deployed on Cardano, nor have I seen any enthusiasm for the platform among developers. I am truly mystified as to why it is enjoying a resurgence in popularity”

Cardano’s Security and Governance Are Superior to Ethereum

During the interview, the creator of Cardano said “We did it right, but it meant we were one of the last ones to get to market”. However, he said he does not know the reason why the market valuation of Cardano (ADA) suddenly surged, stating that “It’s been a wild ride, broke to a billionaire in eight years is pretty crazy.”

Read Also: Popular Trader Lark Davis Lists Cardano, Polkadot, Litecoin, and Altcoins with Bullish Potential in March

Hoskinson also claimed that Cardano’s blockchain security and governance are superior to Ethereum. He, however, showcased his disinterest in decentralized exchanges such as Uniswap and collectible art like digital cats.

Hoskinson noted:

“My goal is to run countries on this blockchain, I don’t care about Uniswap and CryptoKitties and other things. It’s a bubble, and it comes and it goes, like Pet Rocks and Beanie Babies.”

More than 100 Companies Are Looking To Move from Ethereum to Cardano

So far, only SingularityNET has officially confirmed that it’s moving from Ethereum blockchain to Cardano, but a lot more are expected to move to the blockchain eventually.

Read Also: Dubai-Based FD7 Ventures to sell off $750M worth of BTC for Cardano (ADA) and Polkadot (DOT)

According to Charles Hoskinson, more than 100 companies that are looking to move from Ethereum to Cardano when the network becomes mature are “in the pipeline.”

“You can take your DeFi and you can run it on my system for 1/100 to 1/1000 of the cost,” he added.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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