Charles Hoskinson says that likening Cardano’s situation to that of Tezos’ is like comparing “apples to oranges.” The IOHK’s CEO who was speaking in a recent interview with Crypto Insider said the two coins are completely different and went further to discuss the Tezos project.
According to Hoskinson, the plan to evade US regulatory authorities backfired due to a disagreement between two top officials of the foundation, Johan Gevers (a former head of the foundation) and Breitman. This caused a delay in the launch of the proposed shop in Switzerland, which made the Tezos bleak. Hoskinson added that this was completely different from the issue with Cardano, adding that their foundation improved the ecosystem.
“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 said.
According to the CEO, he traveled to 27 countries in a bid to “facilitate the community management and evangelism role,” which was a responsibility of the foundation. That, however, did not affect the development of the project.
Hoskinson added that it would not be a good idea to allow foundations to control “software developments” and “scientific research” especially if they cannot make quick decisions. He explained that all digital assets must face a governance crisis before they can move to the next level. The same thing was evident when Bitcoin core (BTC) had Bitcoin Cash (BCH) and when Ethereum (ETH) had Ethereum Classic (ETC). It also played out when Ripple had issues with Jed McCaleb.
“The ability to overcome that event is what tells you that cryptocurrency is going to be around for a long time. Bitcoin survived the loss of Satoshi and is still going strong, so similarly we are no different and Cardano has to overcome this little blip,” Hoskinson said.
At one point during the interview, Hoskinson agreed that Tezos and Cardano are of course similar in some aspects, citing that both projects have “blockchain governance in mind.” However, both projects are equally different from each other when it comes to “philosophies about proof of stake.”
In the end, the CEO of IOHK said that he respects both Tezos and Cardano for the goals they have accomplished so far.
This piece first appeared on AMB Crypto
Disclaimer: This article is not a direct trading or investment guide. While carefully researched, it’s only for informational, educational, and entertainment purposes only.