Charles Hoskinson, the founder of Cardano, recently criticized Ethereum, referring to a video clip in which developer Justin Drake commented on staking, “I think part of the reason is when you make hot dogs, you’ll know how it’s made.”
The colloquialism, which hints at undesirable aspects of sausage making, has been interpreted by some as an honest dig into the shady processes behind Ethereum staking.
As reported by U.Today, Ethereum founder Vitalik Buterin previously explained that his doubts about staking his Ether revolve around security and operational complications.
He pointed out that staking Ethereum requires public visibility of user keys, which would then trigger a security red flag. The use of multi-sig wallets, while improving security, adds an additional layer of complexity.
With Buterin’s substantial assets, estimated at $1.46 billion to $1.5 billion, the challenge of managing and keeping multiple wallets secure becomes clear. Despite these concerns, Buterin’s “small portion” of the bet could still represent a substantial amount, based on his estimated fortune.
Hoskinson’s Ethereum stunt is not a single event; this adds to the history of criticism aimed at the platform. In the past, he has called Ethereum a “fire quiz” and even predicted its potential decline, comparing it to the obsolescence of previous internet platforms.
In a bolder prediction, Hoskinson hinted at the possibility of Ethereum moving to the Cardano platform in the future, underscoring Cardano’s promise of improving speed, profitability, and user numbers.