Although he is no longer among the leaders of Ethereum, Charles Hoskinson cannot help comparing the latter with Cardano (ADA). He has also taken advantage of the current craze to assert that the blockchain is doing better in this area than its main competitor in the industry.
The importance of the number of unique addresses involved in betting
As one of the blockchains based on the Proof-of-Stake consensus, Ethereum has been increasing the crypto community’s interest in staking since last year. By abandoning mining for the latter, the blockchain has brought to light a reward process that is attracting the attention of American regulators.
Blockchain native to the most valuable altcoin on the market, ether (ETH), Ethereum could naturally claim the place of the leader in the industry. However, Charles Hoskinson claims this first place for his own blockchain, Cardano, also based on the Poof-of-Stake.
He has shared on this day on Twitter graphic indicating that the staking process is much more active on Cardano compared to what is done on Ethereum. The latter shows that the number of unique addresses of stake participants on Cardano stands at more than 1.2 million, compared to only 88,400 for Ethereum.
Cardano is pretty special. It’s almost like many people thought about how to build a great staking protocol years ago and made it happen pic.twitter.com/SydlMTYyy1
—Charles Hoskinson (@IOHK_Charles) April 3, 2023
Cardano is pretty special. It’s almost like a bunch of people figured out how to build a big stake protocol years ago and figured it out pic.twitter.com/SydlMTYyy1 — Charles Hoskinson (@IOHK_Charles) April 3, 2023
Also read: Here are 4 strategies for betting on Ethereum!
Ethereum better rewards participants in the staking process
Staking Rewards supported the numbers shared by Cardano’s founder, who credits Cardano with a staking ratio of 68.12%, while Ethereum’s value is 15.61%. So there would currently be four times more ADA than ETH dedicated to the respective native blockchains.
However, the balance of power between the latter is reversed as soon as we look at the income received by the participants in each case. Ethereum in particular grants an adjusted reward in the range of 5.1%, while Cardano only offers 0.17% at the time of writing.