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Cardano founder Charles Hoskinson says the crypto world needs 'that wi-fi moment'

Posted by johnnorman on September 14, 2021 - 11:23am

Cardano founder Charles Hoskinson says the crypto world needs 'that wi-fi moment' - where users can work with any blockchain seamlessly - more than it needs a dominant network

 

I believe these thoughts from Charles Hoskinson make a lot of sense and reflect the struggles of the early dates of the internet. Hopefully the end result will be a blockchain for all peoples and interoperability or connectivity will be the clarion call of the future.  May Common sense prevale!! The article was written by CAMOMILE SHUMBA in Business Insider - India on todays date.

 

The cardano network took a step closer this past weekend to competing more fiercely with the larger ethereum network, after a key upgrade meant it could host decentralized finance applications.

But founder Charles Hoskinson doesn't believe any blockchain will be dominant in the years to come, even the so-called "ethereum killers" like cardano. Much like when the internet became a part of daily life, consumers ceased to question which manufacturer made some of the key pieces of hardware that made connectivity possible.

"You're not asking - 'is this a Samsung router? Is this an Apple router?' and my hope is, that's what's going to happen in the industry, where cardano is infrastructure, ethereum is infrastructure, bitcoin is infrastructure," Hoskinson told Insider in a recent interview.

"Of course we compete under the hood, and businesses, governments and people who care about these things will care about them. But at the end of the day, if it's going to work for everybody, we have to have that 'wi-fi moment' where it's consumer friendly, and it just works on your phone and you can just set a transaction, you can seamlessly move between things," he said.

The last in the cardano network's series of "alonzo" upgrades on Sunday means it's now possible for the blockchain to run applications such as smart contracts, or host digital collectible tokens - known as non-fungible tokens, for example.

Ethereum, the network that Hoskinson co-founded along with Vitalik Buterin and several others a few years ago, is the largest network with those capabilities, known in the industry as a layer one protocol.

Cardano, solana and avalanche have all seen their respective native tokens surge in price in recent weeks as they roll out upgrades that improve their chances at chipping away at ethereum's lead.

But Hoskinson said it was less about competition and dominance and more about blockchains working together.

"What's probably going to happen is we're going to live on an internet of blockchains," Hoskinson said.

Right now, the various blockchains can't yet connect to one another.

But thanks to so-called layer zero protocols like polkadot this interoperability will become reality.

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Simon Keighley Encouraging article with a clear vision, John - let's hope the future will enable users to work with any blockchain seamlessly. Thanks for sharing.
September 15, 2021 at 8:39am
johnnorman Charles Hoskinson has a clearer vision of the future of blockchain than most
September 14, 2021 at 11:54pm
Charles Phillips Charles Hoskinson got my attention when he said that: "The crypto world needs 'that wi-fi moment' - where users can work with any blockchain seamlessly".
September 14, 2021 at 10:02pm
Bill Rippel Very interesting article, thanks for sharing, John.
September 14, 2021 at 5:36pm
Terry Grieve The petrol dollar is DEAD. Every time Bitcoin goes up OR down, it becomes stronger. If you took $35 and a troy ounce gold coin in 1935, and put it under your mattress until today then: the $35 are worth $35. The gold coin is worth $1800. One bitcoin is worth $46,000. AND it is more popular than ever, and growing.
September 14, 2021 at 3:37pm