Cardano Founder Charles Hoskinson Criticizes Ethereum PoS
Founder of IOG and Cardano Blockchain Network Charles Hoskinson has taken to Twitter to comment on a recent announcement spread by the Cryptocurrency Exchange platform Kraken.
The message says that the unstacking of the Ethereum locked there is not permitted until the next Ethereum upgrade — Shanghai. Previously, Charles Hoskinson wrote a public complaint on Twitter that after Ethereum Merge, Bitcoin maxis would begin attacking Cardano, thinking that its PoS model has the same issues as Ethereum. Cardano blockchain network offers a different way of implementing proof of stake, ADA holders have reminded other Twitter users in the comment thread.
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Charles Hoskinson sent a screenshot of a message received from Kraken Exchange support service, saying that unstaking of Ethereum is unavailable after the implementation of the Merge. It says that the withdrawal of staked Ethereum will only be possible when the next Ethereum upgrade on the path toward Ethereum 2.0 – Shanghai - takes place. The message further says that Shanghai upgrade is expected approximately six months after the completion of the Merge. It also specifies that this is not a particular requirement or policy of the Kraken Exchange but rather it is to do with the way the whole Ethereum blockchain network operates.
No asset locking on Cardano Proof-of-Stake
Charles Hoskinson did not share that Cardano is proof-of-stake (PoS) model functions in a different way from Ethereum is PoS; some of the commentators did it instead. Answering the queries of those who are not in the know, they tweeted that staking on Cardano does not require stakers to move ADA from their wallets and, therefore, ADA can be unstaked at any time they want.
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Cardano does not use "slashing," different to Ethereum
On 15th September, when Ethereum developers implemented the Merge upgrade and shifted Ethereum blockchain network from PoW to PoS, Charles Hoskinson responded to a tweet by Bitcoiner and former Twitter CEO Jack Dorsey, who published an article that stated that all PoS blockchain platforms use proof of stake in the same way with many things that harm user is interests. In particular, the article mentioned a feature called "slashing" used by Ethereum Blockchain. This feature protects the blockchain network from 51% attacks by cutting down the financial stimulus of those stakers who try to behave malevolently. Basically, they get their staked Ethereum slashed, i.e., reduced. Cardano does not have this feature; however, the article did not mention that. Charles Hoskinson shared his expectation that now Bitcoin maximalists will begin attacking Cardano for the faults of Ethereum, thinking that PoS works on all crypto platforms in the same way.
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