- Cardano founder Charles Hoskinson expects Ethereum to continue growing over the next two years and reach its peak in late 2022 or early 2023.
- He further claimed that Cardano, the once widely regarded as an “Ethereum killer” is also on the rise.
In an interview with Bloomberg, Cardano founder has predicted that Ethereum will continue growing over the next two years. He added that the network would reach its peak in late 2022 or early 2023. His comments come amidst great demand for the second-largest cryptocurrency which he interestingly co-founded. The developer went on to launch Cardano, which has also undergone major developments with the greatest one, in the form of the Alonzo upgrade- allowing for the deployment of smart contracts, expected in the next few weeks.
The network has only recently undergone a major upgrade which now allows it to become a deflationary asset by burning fees. In less than a week since the mechanism was adopted, over $64 million worth of Ether has been burnt. At this rate, it is expected that the yearly burn could reach the tune of billions. If so, the asset could reach an “ultrasound money” status when some analysts expect would make it larger than Bitcoin and could end up flipping Bitcoin.
While Hoskinson praised the technical aspects of Ethereum, he noted that its leader Vitalik Buterin would play a great part in its growth. Hoskinson noted;
He’s going to apply his youth and his wealth to things he thinks are right for his ecosystem. And there are a lot of people working with, like ConsenSys, etc., which are definitely big companies and they have a lot of people and money too. When you have that kind of momentum, something is going to happen.
Ethereum vs Cardano
In the past, the developer has criticized Ethereum purporting Cardano as a more superior network. However, despite the break-up with Vitalik Buterin years ago, he has nothing but praise for the young developer.
During the interview, Hoskinson was quick to highlight recent developments around Cardano. For one, the project has undertaken major projects in Africa, going as far as signing a partnership deal with the government of Ethiopia.
Read More: Charles Hoskinson discusses Cardano’s plans for Africa beyond the Ethiopia deal
With the Ethiopian project and a few neighbouring countries such as Tanzania, the network will look to onboard millions of users. In the interview he added;
Our intention is to compete among others for the entire national ID system, which is approximately 110 million people.
At the time of press, both Cardano and Ethereum are in the green. Ethereum has gained more than 5 percent and is trading just above $3,100. Cardano on the other hand has added a little under 5 percent and is exchanging for $1.47 according to our data.
Credit: Source link