On a podcast, Charles Hoskinson stated many several important points about Bitcoin.
In the whole podcast, he criticized Bitcoin directly & indirectly and explained how Ethereum will overtake Bitcoin.
As a guest on Lex Friedman’s podcast, Charles Hoskinson criticized Bitcoin for its slow transaction speed in comparison with other existing networks like Etherium & others in the present time.
According to Cardano founder, Bitcoin is losing its speed and functionality to work at another network like proof-of-stake.
Bitcoin proof-of-work consensus is a very old technology of blockchain and it is not acceptable According to current time needs.
Charles Hoskinson said the whole Bitcoin team is responsible for the lag of bitcoin in every technical aspect.
According to Hoskinson, Bitcoin is an enemy for itself. In the present time there is the biggest need for brand name and regulatory approvals.
But the Bitcoin team is missing and they are doing their work anonymously.
The existing laws of the financial system cannot be changed by countries but Bitcoin should do and they should come into existence to take Bitcoin to another level.
Unlike bitcoin, Ethereum is better in every aspect and also the whole depth of explanation of the technology and advantages are explained.
The Ethereum team is doing new development work to make the Ethereum network better and more efficient.
So Ethereum is better not only from the point of technology but also by the team work.
Hoskinson said, If a fight starts between Bitcoin & Ethereum. Then surely I will bet for Ethereum to win the game.
Because Ethereum is actually worth more in comparison with Bitcoin.
And also he said that 9 out of 10 cases Ethereum will take over Bitcoin.
At the end of the whole discussion in the Podcast, Hoskinson said the actual fight within the Cryptocurrencies is in early stages. And major Cryptocurrency blockchain networks are struggling to share their network.
And also according to him Cardano is also a big competitor of this battle of cryptocurrencies.