CEO of IOHK, Charles Hoskinson, claims that Cardano is 1.6 million times more energy-efficient than Bitcoin during a recent Forbes interview. His comments come amid Cardano blockchain using proof of stake (PoS) consensus mechanism over Bitcoin’s power-intensive proof of work (PoW) usage.
Cardano More Energy Efficient than Bitcoin: Charles Hoskinson
On April 26th, the founder of the Cardano blockchain, Charles Hoskinson, was interviewed by Forbes on the newest evolutions in the cryptocurrency space.
With recent debates on Bitcoin’s energy consumption taking over mainstream media, Hoskinson too chimed in with his own take saying, Cardano is 1.6 million times more energy-efficient than Bitcoin.
He made his remarks over the fact that Cardano blockchain uses a proof-of-stake consensus mechanism while Bitcoin blockchain uses the energy-intensive proof-of-work.
“The advantage of proof of stake is that because you don’t have that gargantuan overhead and energy expenditure for deciding who gets to make a block, it means you can put a lot of your magic in the other two stages. So you end up getting protocols that are much lighter and massively more energy efficient. Cardano, for example, is 1.6 million times more energy-efficient at the moment than bitcoin.” adds Hoskinson.
Hoskinson isn’t the only person per entity for criticizing Bitcoin’s energy consumption.
For instance, earlier this week, New York-based asset management firm Bessemer Trust warned that Bitcoin is less energy efficient than other cryptocurrencies while Ethereum is comparatively more efficient.
University of Zurich Adds Cardano to their Blockchain Course
Switzerland-based University of Zurich has announced adding Cardano to their “Deep Dive into Blockchain 2021” curriculum.
The course curriculum will be taught to those students studying in the university’s Blockchain Center modules. Several guest lecturers will be brought in for teaching the course including members of the Tezos Foundation and IOST and the CEO of Cardano, Charles Hoskinson himself.
The course will teach students about blockchain technology, not just limited in its technicalities but components such as its critical design theory, the economics & incentives behind blockchain systems, and how such systems interact with the existing infrastructure in the real world.