Staking: Cardano more attractive than Ethereum, according to Hoskinson

Charles Hoskinson, the founder of Cardano, shared a new perspective regarding his blockchain. He once again compared his network to Ethereum, the largest PoS blockchain by capitalization. This time, the comparison was focused on staking. Charles Hoskinson suggested that it is more advantageous to do this operation with the ADA token than with ether (ETH).

Do users prefer Cardano over Ethereum for staking?

Charles Hoskinson mentioned a peculiarity of Cardano, which recently proceeded to open Ethereum dApps. He indicated that the number of unique addresses involved in the staking process is higher on Cardano than on Ethereum. He provided a graph showing that there are more than 1.2 million unique wallets participating in the operation on Cardano. Meanwhile, there are 88,400 unique wallets involved in staking on Ethereum.

Charles Hoskinson estimated that the blockchain he founded is an excellent staking network. Also, the figures he gave regarding staking on his network have been confirmed by a Staking Rewards portal. The data indicates that Cardano’s staking ratio is 68.11%. Meanwhile, that of Ethereum is estimated at 15.6%. Thus, the number of ETH tokens in circulation dedicated to staking is almost 4.4 times lower than for ADA.

Yet, Ethereum’s market capitalization happens to be 3.5 times larger than Cardano’s. This is due to the price difference between ADA and ETH tokens. It should be clarified that the reward for staking is higher on Ethereum than on Cardano. Indeed, it is estimated at 4.92% while on the Hoskinson blockchain, it is 3.24%.

Hoskinson and Ethereum: Critics and Rivalries in the Staking World

Some users have expressed frustration with Hoskinson continuing to compare Cardano to Ethereum. Regarding this, a member of the crypto community said: “ Cardano will fail as long as you always compare it to Ethereum! That’s why I moved my investment from Cardano to Polkadot! Because Gavin Wood is really here for the technology! Maybe the only guy on your old team who really cares about technology and not money or “Jesus” status “. It should be clarified that the Santiment platform has previously indicated that Polkadot and Cardano are the two leading blockchains.

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