Bitcoin, Crypto currency, Blockchain

Cardano founder Hoskinson: Ethereum and EOS have a Governance Problem – Coin Hero

4f34b9c1f45455aa7482aa685a71c761 - Cardano founder Hoskinson: Ethereum and EOS have a Governance Problem - Coin Hero

Cardano founder Hoskinson: Ethereum and EOS have a Governance Problem

Home News Cardano founder Hoskinson: Ethereum and EOS have a Governance Problem

Of
Marcus Misiak –
10.04.2019

Charles Hoskinson, co-founder of Ethereum (ETH) and IOHK, Cardano (ADA), criticized in a yesterday, Fortune published an Interview in the approach to development of Ethereum and EOS.

Cardano (ADA) is the founder and Inside Outside Hong Kong (IOHK) CEO Charles Hoskinson informed currencies his opinion about the future of Crypto, and gave the Interview with Fortune a critical evaluation of Ethereum and EOS. Hoskinson said that the strength of the development of crypto-currencies will be to define himself as a decentralized industry – an industry that “weak leadership” requires.

In contrast to the pursuit of the hallmarks of the decentralization Hoskinson sees a different trend, with the persons to be a “President or a king, or a Committee or a group similar to that we have equipped with special powers”. Truly decentralized crypto should work currencies as a “cooperative or as a Bottom-up Community”. Hoskinson explained:

We really have a Governance Problem.

Hoskinson believes that the establishment of decentralization and the structure of transactions and systems that operate outside of the traditional CEO/leadership concept, one of the most important challenges for the world and crypto currencies in the coming century:

This is the first Time ever we are flirting with the idea of a company without a CEO or a country without a President. This is a very big challenge and I think that it is the majority of the 21st century. Century is the need for the crypto-currency space.

Hoskinson also took the opportunity to criticize the project Manager of Ethereum and EOS specifically, although they have close Links to them. Hoskinson, who helped in the creation of Ethereum, before he left in 2014, after a disagreement with the project, said:

This is a sharp contrast to the development seen in things such as EOS or Ethereum, where you seem to be the view of a lone Samurai to represent.

Hoskinson noted that the approach to development of Ethereum and EOS, which is based on the strong leadership of Vitalik Buterin, or Dan Larimer and a group of engineers, leads to success. He made the comparison that “if you look at the flight to the moon looks at more than a Million people in this mega-project were involved.”

In the Interview, Hoskinson added to the “control crisis” that it is, in particular, for the development of Bitcoin (BTC) is necessary to make important decisions, e.g. about the implementation of Schnoor signatures or a better support of the Side Chain. Although such implementations represent a significant improvement of Bitcoin, many believe that they also bring greater complexity and a higher level of risk in the System that could jeopardize the current price of BTC. How you can solve such debates, is unclear, says Hoskinson.

On the question of whether interoperability for crypto could become a reality, said Hoskinson:

We will not make it in the financial industry, if we have good Standards, in order to convey values and information between all these different ledgers.

Featured Image: Akarat Phasura | Shutterstock

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