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Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Cardano Forum => Topic started by: Batch18-19 on October 14, 2021, 02:57:20 PM
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ALTCOINSCardano eUTxO ‘derived’ from Bitcoin; is it ‘innovation’ or ‘replication’Published 12 hours ago on October 14, 2021By Sahana Venugopal
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Cardano faced a lot of FUD this year, especially before and immediately after the Alonzo upgrade. Furthermore, founder Charles Hoskinson also pointed a finger at media channels for spreading negative information.
In light of this, IOHK CTO Romain Pellerin spoke to Thinking Crypto host Tony Edward and cleared up some misconceptions people had regarding Cardano. Pellerin also shared his views on NFTs and CBDCs.
An expert compares…
Edward first asked about any misconceptions regarding Cardano. In response, the IOHK executive dryly responded that the industry “should be (better) at writing than commenting.”
Coming to the controversial eUTxO accounting model, some users had claimed it could only take one transaction per block. For his part, Pellerin compared the model to a tree and explained that the leaves represented the transactions. Meanwhile, he compared Ethereum’s model to that of a bank.
Regarding Cardano’s goal to onboard 1 billion people in five years, Pellerin spoke about Hydra – a layer 2 scalability solution which would enable transactions to take place partially off-chain.
Pellerin also discussed the king coin, pointing out how Cardano’s eUTxO model had been “derived” from Bitcoin. However, he was quick to note that Cardano was “innovating” and not “replicating.” He also reminded viewers that Bitcoin used a proof-of-work consensus mechanism while Cardano used proof-of-stake.
Criticizing the “constant fight” on social media and coordinated campaigns against projects, Pellerin said,more information (https://ambcrypto.com/cardano-iohk-exec-calls-for-less-social-media-fighting-and-more-collaboration/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
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If you look at the word "from Bitcoin" then this understanding is a duplicate of Bitcoin because the system from Bitcoin is really very much imitated by everyone, including the creation of Ethereum which was also inspired by Bitcoin.
But I think ALTCOINS Cardano eUTxO will give something different in the cryptocurrency space that is on the Cardano blockchain and this proves that Cardano is really ready with the various smart contracts that have been created.