Charles Hoskinson is the creator of the third-generation blockchain project Cardano. He has been actively campaigning for the promotion of his brainchild in recent months. At present, the Bitcoin price mark has appreciated at a record level. This is the ideal time for other crypto projects to find their footing in the crypto-verse. Following the same fashion, Hoskinson has called upon Tesla CEO Elon Musk to switch from Bitcoin to a more sustainable blockchain project like Cardano.
He was recently invited to the Lex Fridman Podcast. During his five-hour appearance on the show, Hoskinson made a case in favor of ADA as a better alternative for investment consideration. He claimed that if Musk is worried about the energy consumption factor, it would be best to leave out the Bitcoin altogether. He further added that with Bitcoin, it is not possible to dodge big issues like lack of sustainability, neutrality, and high carbon emissions.
Cardano Founder Says that Bitcoin is not an Ideal Project for Businesses in Terms of Energy Conservation
Speaking on the matter of energy-saving, Charles Hoskinson told his interviewer that Bitcoin does not have any capacity for a built-in mechanism for energy reduction. He said that to make the energy consumption a negative, it would be great to work with a digital asset with proof of stake. According to him, the blockchain projects based on PoS work towards decreasing their energy intakes as they move forward.
When asked about the idea that wasted energy can be put to good use with Bitcoin. He responded that this idea holds some water. Hoskinson asked Musk to present a solid case in support of his crypto convictions. It should be noted that Tesla CEO has supported the idea that green and sustainable energy projects could be promoted on the back of the crypto mining industry. Hoskinson has claimed on his channel that Cardano is more than 1.5 million times energy conservative in comparison to Bitcoin.
Charles Hoskinson Claims that Bitcoin is Based on Outdated Technology
Bitcoin has been called time and again a boomer blockchain project. This title implies that it is not possible to make changes in the blockchain project consensus model. Speaking on automated car driving technology, Hoskinson claimed that the required DEXes could not be supported on Bitcoin. It would be better to go for stablecoins that offer the best infrastructure for the said entity.
He also said that due to the non-programmable nature of Bitcoin, it would be a difficult project to create better technologies with. The flagship crypto blockchain cannot support the Internet of Things layer that is crucial for better software deployment. In the end, Hoskinson said that Bitcoin has been able to stick around for so long because many people have put big money into the project.