Charles Hoskinson, the co-founder of Cardano as well as Ethereum and also the CEO of IOHK, released a recent YouTube video wherein he talked about the potential of the ADA blockchain and why the blockchain-based platform can never be compared to the now-folded Theranos.
Cardano and Theranos
Charles Hoskinson said that in no scenario can Cardano network be compared to Theranos as it has “no secrets” like the latter firm. Theranos was an American privately held corporation founded by 19-year-old Elizabeth Holmes in 2013. The firm was dissolved and liquidated as Holmes was convicted of wire fraud and conspiracy.
In a surprise Ask Me Anything (AMA), Hoskinson stated that Theranos was a company that people wanted to succeed because of their desire for a “female Steve Jobs.” He pointed out that the reason why the firm raised more than $700 million without allowing anyone to test its claims on its products is that the biotech firm represented this desire that people had.
On the other hand, Hoskinson pointed out that Cardano is an open-source project that can be viewed anymore.
“Anyone in the world can fork Cardano…Anyone in the world can take our paper and implement our papers as has been done by Mina Protocol and Polkadot for some of our papers. There’re no restrictions.”
Scam and Genuine
Hoskinson also pointed out that the major difference between a scam and a genuine product is that the former doesn’t let the latter “see what’s behind the curtain” as there won’t be anything to find behind that curtain. The Cardano network has been called a “ghost chain” and a “vaporware,” but, as per a recent report from Finders, the price of ADA by the end of 2030 will reach $58.
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Parth
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