Charles Hoskinson, founder of Ethereum rival blockchain projects Cardano and co-founder of Ether, said that Bitcoin is lagging behind due to its limited programmability. Charles Hoskinson stated that with the UTXO model, the technology of Ethereum was also surpassed.
Targeting the two pioneers of the crypto market with a Twitter post, Hoskinson made a statement giving more details about Cardano's feature. Hoskinson sees the extended UTXO (EUTXO) accounting model as "the next logical step."
"That's what the ETH devs are fundamentally missing. Bitcoin did something magical, but it just didn't go far enough. Satoshi was aware of the account model, but passed on it. Extended UTXO is the logical next step and takes advantage of 13 years of knowledge and testing."
Currently a leader in the DeFi space, Ethereum uses the account-based model that represents assets as balances. Thus, users can use their accounts partially instead of spending their entire account. Vitalik Buterin, co-founder of Ethereum, opened the account-based model instead of UTXO, despite the limitations of Bitcoin.
In a Twitter thread by user Sooraj shared by Hoskinson, he argues that the EUTXO architecture is superior to Ethereum's account-based model.
Cardano's parent company, Input Output, claims to combine the best of both fields with EUTXO. Cardano developer Charles Hoskinson now wants to leverage 13 years of know-how and testing with EUTXO.
Bitcoin and Ethereum Move from the Australian Giant Company!
Australians will be able to pay for luxury cars like Porsches using Bitcoin, Ethereum or 30 other cryptocurrencies on CoinSpot. This has been made possible thanks to the partnership between CoinSpot, Australia's leading crypto exchange, and Melbourne-based luxury car retailer Dutton Garage. Customers can now pay for luxury cars partially or fully in crypto.
Customers wishing to purchase cars from the Dutton garage can request to use crypto for payments and transact using dedicated CoinSpot Account Managers with company partners.