The founder of Cardano criticized Bitcoin supporters and compared the first cryptocurrency to a religious symbol. In his opinion, the modern crypto industry has outgrown its dependence on Bitcoin and does not need it.
Charles Hoskinson pointed out Bitcoin's lack of adaptability and its over-reliance on the Proof-of-Work (PoW) algorithm.
He emphasized that, for example, corporations such as Microsoft had to adapt to new technological trends in the form of laptops and smartphones in order to remain in the market. According to him, Bitcoin is not capable of change and has turned into a religious system, and its supporters cannot accept “objective reality.”
Cardano, unlike Bitcoin, operates on a Proof-of-Stake (PoS) consensus algorithm, and the purpose of creating this blockchain was to solve problems of scalability and sustainability of the ecosystem.
Previously, Charles Hoskinson criticized the administration of US President Joe Biden for deliberate efforts to destroy the crypto industry in the United States.
Source: Cryptocurrency
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