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2021-06-21

BTC vs ETH - who will win this race?

IOHK CEO and Ethereum co-founder Charles Hoskinson argued that Bitcoin is at a significant competitive disadvantage due to its low speeds and will be usurped by proof-of-stake networks. 

In a five-hour podcast with computer scientist and artificial intelligence researcher Lex Fridman, the Cardano founder argued that proof-of-stake networks offer superior speed and functionality compared to the original cryptocurrency, stating:

Hoskinson also criticized the Bitcoin community for its unwillingness to innovate beyond the cryptocurrency's core layer, also describing Bitcoin's second layer scaling solutions as "highly fragile."

However, Cardano's founder argued that Ethereum has grown to rival the Bitcoin network, but has an agile development culture that embraces evolution.

However, Hoskinson admitted that the battle for cryptocurrency dominance is "a much more complex game" than the competition between Bitcoin and Ethereum , claiming that many other blockchains are now fighting for a large share of the blockchain market, not surprisingly, mentioning Cardano among others.