Cardano CEO Charles Hoskinson recently discussed the network's strengths, calling consensus its 'hidden superpower.'
Introduction
Charles Hoskinson spoke during a recent fireside chat at the Rare Evo convention held in Las Vegas between August 15 and 17, 2024. Cardano Foundation CTO Giorgio Zinetti and IOG Chief of Staff J.J. Siler were present during the chat.
About Cardano's Consensus
Hoskinson remarked, 'This exercise of consensus building is one of the hidden superpowers and the biggest competitive advantage that Cardano has.' He explained that while many people find the idea of consensus building abstract, it has given Cardano a competitive edge. The conversation also touched on Cardano's unique consensus mechanism, Ouroboros, which uses a proof-of-stake algorithm. Ouroboros prioritizes security, scalability, and energy efficiency by selecting validators based on the number of tokens.
ADA Prospects
During the discussion, Hoskinson also mentioned the prospects of ADA, the Cardano network's token, which has shown bullish trends with projected growth of up to 178% by 2024.
Consensus and unique technologies continue to be key elements in the successful development of the Cardano network, drawing attention to its capabilities and prospects.
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