Charles Hoskinson Says His Life Depends on Cardano Winning Against Competitors Like Ethereum

Cardano founder Charles Hoskinson delivered another passionate speech on his commitment to ensuring that the Cardano ecosystem outperforms Ethereum.

Hoskinson, who also co-founded Ethereum, has been under intense scrutiny by a faction of the Cardano community for what they believe are his contributions to the stagnation of the ADA ecosystem. Some suggested he was a “cancer” and insisted that Cardano is better off without him.

Hoskinson Renews Ethereum Rivalry

Meanwhile, he assured that he wants Cardano to win, even against major competitors like Ethereum. He expressed discontent that Cardano ranks lower than Ethereum, adding that his goal is to enhance the state of affairs daily to ensure that the network displaces Ethereum.

Notably, this is not the first time Hoskinson has targeted his old endeavor. He has previously criticized Ethereum in favor of Cardano, arguing that his chain has better technology.

For context, he referred to the chain as a dictatorship controlled by co-founder Vitalik Buterin last year. In April, he raised doubts over Ethereum’s long-term viability, asserting that it would not last another 10 to 15 years. Some of the Cardano founder’s reasons for his claims were a poor choice of consensus mechanism and the adoption of layer 2 scaling solutions.

Remarkably, the bad blood dates back to 2014, when Buterin and the core team removed him as CEO over a disagreement regarding Ethereum’s roadmap. Hoskinson wanted Ethereum to function as a commercial and profitable entity, but Buterin vetoed the idea, opting instead for the ecosystem to exist as a non-profit organization. Hoskinson founded Cardano following his departure.

Currently, Ethereum is the second-largest cryptocurrency by market cap, with a valuation of $540 billion. On the other hand, Cardano ranks 10th with a market cap of $30 billion. For ADA to surpass Ethereum, ADA would need to rally by at least 1,700%, taking its price to $15.2.

Charles Hoskinson Highlights Internal Conflict

Further, Charles Hoskinson noted that there was once an internal conflict between the developers and the IOG team. This stunted the growth of the ecosystem, as implementations like smart contracts stalled.

However, integrations like the Midnight Network and Lace righted this wrong. He highlighted that the Glacier Drop has the scaling solution Hydra at its core, alongside Cardano smart contracts, aligning IOG with the challenges faced by builders.

“Now we had to fix a lot of broken windows along the way,” he added.