The cryptocurrency market seems to be on an uptrend with a majority of the cryptocurrencies seeing green across the spectrum. Cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH] and Cardano [ADA] all rode the bull after a long bearish market.
At the time of writing, Cardano [ADA] was growing at the rate of 3.32% and was trading for $0.077. The cryptocurrency held a total market cap of $2.010 billion with, a 24-hour market volume of $34.649 million.
Cardano was also in the news recently when Charles Hoskinson, the founder and Chief Executive Officer of the IOHK Foundation, stated that comparing Tezos and Cardano [ADA] was like comparing apples to oranges. He stated:
“Where it has a collection of duties and responsibilities that are for the community but whether it does these things or not doesn’t stop development does these things or not doesn’t start partnership in business development and because of the triumph or its structure we had resiliency. So if it fails to other entities can step in and fill in for it and continue moving the project along.”
Hoskinson had also stated that his position as a spearhead in the development of both Ethereum and Cardano was affected by the difference in the level of functionality in both the networks.
He even commented on Bitcoin [BTC]’s scalability solutions, calling it “extremely frustrating”. Hoskinson went on to say that although Blockstream does good work, Simplicity, another programming language, can be the perfect replacement for Bitcoin’s Script.
“I think their whole vision with Lightning is a good one. I wish the Bitcoin community was a bit more eager to innovate cause if they don’t they’re eventually going to lose their throne and it’s going to be extremely hard for them to get it back if they do.”