Hoskinson: Cardano to Outperform Bitcoin, Ethereum

Cardano to Outperform Bitcoin, Ethereum, Says Hoskinson

Charles Hoskinson, CEO of IOHK, expected Cardano to be the best cryptocurrency, outperforming Ethereum (ETH) and Bitcoin (BTC).

IOHK has successfully launched Cardano’s Byron reboot which includes numerous updates for the Cardano blockchain in readiness for the Shelley generation, according to BTCwires website.

Byron Reboot is said to be the network’s most important release, especially when you mean the retail side. The Byron Reboot is “100% re-written code, security audited, built with formal methods and it’s a 100% built in-house.” 

The reboot was efficaciously released on the Cardano network after more than 18 months of hard work. It includes several updates to the Cardano network, including the Cardano explorer, Cardano node and the Daedalus wallet.

Updates to improve Cardano network

The updates aim to improve the Cardano network in readiness for the looming Shelley mainnet. The reboot will allow the network to keep processing more transactions.

However, this would boost contribution in the network because the Cardano node could be more efficient as regards memory usage. In addition, users would be able to run a node in a poor network across the globe.

The CEO said the network has a smart contract system, scalability, as well as clear interoperability solution. This will best serve the crypto market across the globe.

The network developers expect this to be sustainable migration with no disruptions. After launching Byron, IOHK will unveil the Haskell Shelly test net which says “onboarding stake pool operators from the incentivized Testnet to help them set up and prepare for running their pools on the Shelley mainnet”.

Hoskinson earlier said his company has taken 18 months to rewrite the blockchain node of the Byron era. He added that the move will provide a low-risk transition to a fully decentralized blockchain in the Shelley era.

Modular methodology

During this period, IOHK has used evidence-based software development methodology to develop a new code for the Byron reboot. They used Haskell’s functional programming to write the revised codebase in a standard style. This will effectively add to Cardano’s scalability.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.