Cardano founder Charles Hoskinson tweeted on June 29, criticizing Ethereum co-founder Vitalik Buterin for his stance on ETH. Buterin hinted that staking ETH is complicated when it comes to security.
Charles Hoskinson on Vitalik's position
Charles Hoskinson tweeted that he had [nothing to say" and that [all of our ADA is staked." He went on to say, [Guess what, that`s what a properly designed proof-of-stake protocol should look like."
During the conversation, Buterin gave his reasons why he wants to stake a large amount of ETH now,
"Probably the biggest reason I don't personally stake all of my ETH and a fairly small portion is that if you stake your ETH...the key to access it has to be public on some online system. For security, it has to be multi-sig, and bet multi-sig is still hard to set."
Ethereum`s Justin Drake also spoke out, suggesting he`s in a rather similar situation,
"Personally, I bet a little bit less than average... part of the reason (I don't bet too much) is that when you make sausage, you know how it's made."
Buterin's reasoning may be complex, but that hasn't stopped the community from taking apart the claim. They asked why the community should be happy with staking ETH if one of the founders didn`t.
The community reacted violently
The community reacted rather harshly to the development, with some saying it was akin to comparing Dodge founders to only driving short distances because they didn't feel safe on long trips.
Others have made similar comments, saying it sounds like Vitalik Buterin doesn't trust his own product.
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This was the general theme of the comments - founders don't want their own product - someone likened it to "Walt Disney doesn't go to Disneyland"
Others were more direct, saying "Ethereum is centralized," and the founders knew it.
Cardano`s upcoming major upgrade
At the same time, there have been some developments in the Cardano ecosystem, network, and its token, ADA.
Most notably, the upcoming Ouroboros upgrade, which many are excited about. Charles Hoskinson has spoken in the past that the upgrade will make transactions on the network ten times faster.
Telecom giant Vodafone has also confirmed rumors that it will use the Cardano network for its first NFT collection. As a result of all this news, Cardano`s TVL has grown significantly, which bodes well for its future.
The stakes for Cardano are also growing.
