Charles Hoskinson Outlines the Main Differences Between Cardano & Polkadot
Cardano Creator and the CEO of Input Output Hong Kong, Charles Hoskinson shared his views in a podcast show on how Cardano is different from Polkadot.
In a recent interview with Lex Fridman, Hoskinson tells the artificial intelligence researcher that Cardano (ADA) holds key fundamental advantages over blockchain ecosystem Polkadot (DOT).
“The big contrasts between the two systems though, we actually are made of multi asset. We have a different accounting model. I think our base ledger is far more expressive. Our rate of evolution with proof of stake is much faster than theirs because they’re based on derivative work, and we already have Ouroboros Omega and other things there.
I think ultimately a better sidechain will come because we have something called Mithral for that. But we learned a lot from their work.”
Hoskinson points out that in terms of governance, he thinks Cardano’s model is better than Polkadot’s.
“The other thing is that we thought about governance a lot more carefully in my view. And we have Catalyst and Voltaire. Really, the key there is saying, ‘How do we make sure every single person that holds data can participate in the network?’ That wasn’t a high design priority for Polkadot. It was more of fast commercial adoption, the acquisition of customers. It will come to governance later. Those are just different business philosophies.”
The IOHK CEO says that Polkadot is a “nice” competitor and according to him it should have been the next version of Ethereum:
“Polkadot is like Ethereum 1.5. It’s what ETH 2.0 probably should have been. That was what Vitalik [Buterin] wanted to do, which was incredibly aggressive and brilliant, but it’s a lot, and there’s so much execution risk in that plan. I think they’ve had six years of playing around with that. Had they gone on the Polkadot road, they probably would have been at market with it in 2018.”
