Each time I release a video sharing my views on Cardano, it seems to spark incredulity from Cardano fans. I want to elaborate a bit on the topic.
See the bottom of this article for the two main videos I’ve done covering Cardano.
I think Charles Hoskinson is a brilliant man and I enjoy listening to him. He imparts so much wisdom in such an articulate way. I have learned a lot from him. In fact, in 2013, I learned about Bitcoin from Charles in his Udemy podcast series, “Bitcoin or How I Learned to Stop Worrying and Love Crypto”. ( https://www.udemy.com/course/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/ ).
I share this because I want to stress that I respect his knowledge.
Keep in mind I haven’t ever said ADA is a horrible coin. It has promise, as I said in my most recent video (watch below). I just see EOS as having greater promise, for many reasons.
I’ve heard the promises of Cardano for a while, and while speed of delivery is one of my concerns, it is only one factor among several for my choice of holding EOS over ADA.
EOS has a lot going for it:
Huge ICO funding & devotion from block.one (10 years of EOS tokens released to them gradually ensures this).
Block.one’s Voice social network (beta) is coming in 8 days.
EOS already has advanced smart contract abilities operable— today.
Block.one has been diligent and relentless in constantly updating the EOSIO software. The updates come forth extremely frequently. As such, EOS is iterating at a very high pace.
Performance-wise, EOS is the top performing smart contract blockchain. This will only increase as the current EOSIO 2.0.0 updates continue to roll out to all block producers.
Elegant permission system and 12 character user-friendly account names.
No fees when making a transaction (again, user-friendly).
Cardano simply has a long way to go to catch up. That’s not to say that it won’t eventually be a great blockchain. But keep in mind, by the time it is a great blockchain, EOS will be that much further along. This is very important to note.
Even when Cardano finally does get Shelly (later than it was promised), EOS will continue to be light-years ahead of ADA.
I’m not saying EOS is perfect and I don’t think any blockchain is. EOS currently needs to fix its CPU issues and perhaps decentralize BPs a bit more with governance improvements. But I think EOS has what it takes to get the job done on a big scale.
ADA isn’t perfect either. It’s important to keep in mind that ADA will have to go through the same rigorous real-world testing that EOS is going through right now, battle-testing and fixing issues and bugs as they come up in a live environment. Don’t think that Cardano is exempt from this process. It will have to go through it too. It’s just going to happen later for ADA due to its longer timeline for getting releases out the door.
Cardano will likely have its place in crypto. Will that place be higher than EOS? With all that I’ve mentioned above, I personally do not think so. It’s not without a great deal of thought that I make this opinion. But it’s just that-- my opinion.
Anyone is free to disagree with me, as we are merely speculating on future success. Things can change. Black swans are possible.
Maybe ADA will be on top. Maybe EOS will be on top. Heck, maybe Ethereum 2.0 or Tezos will be on top.
The progress of each in the years to come will show us.
Cardano fans will state that great things take time to build and that ADA is in it for the long run.
Well, I am in this for the long run too, and I think EOS is too.
In a perfect world I would hope they would all do equally well . But the honest answer is that it’s more likely that some cryptos will rise to the top more than others.
Good luck to both the Cardano and EOS communities. Good luck to Tezos and Ethereum 2.0 too.
We live in exciting times with so much innovation happening.
https://youtu.be/NdcerxNIYOI?t=347 [starting at time-stamp 5:46] (Recorded February 2020)
https://youtu.be/uF6zFsb8y5w (I sold all my ADA for EOS) (Recorded September 2018)