People are looking for safe havens to keep their life savings, and the traditional ones don’t seem so safe these days when the global economy is shaking due to the crisis.
Bitcoin and the digital assets are gaining more and more popularity with the number of investors surging according to the latest report.
So, the naysayers who were claiming that this global diaster will kill the crypto industry were definitely wrong. Some analysts even believe that during such times, Bitcoin and cryptos can show their true benefits and advantages.
Cardano vs. Bitcoin
Charles Hoskinson, Cardano Creator said his team is taking the torch that’s been lit by Bitcoin creator Satoshi Nakamoto in order to bring the crypto industry to new heights.
He said in a UToday interview that IOHK and the team of researchers are now working on creating the future of crypto.
“The reality is, as great as Satoshi’s contributions were to cryptocurrencies, just what we’ve done at IOHK is significantly more meaningful. We formalized everything from what a ledger is, to showing that proof of work can be resistant to quantum computers,” Hoskinson said.
He continued and explained, “We solved the proof of stake problem. We designed significantly better programming languages. We extended the UTXO model, approved by simulation with a special type of state machine…”
Hoskinson also made sure to address the number of transactions that Bitcoin and perform per second, and he compared it with what ADA can do. The the peak, Cardano can perform a million transactions per second, he said.
We recommend that you head over to the original interview and check out what more Hoskinson had to say and Bitcoin and Cardano. Also, make sure to check out the video above.