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Ethereum Co-Founder Reveals He Is Amassing Cardano, Polkadot and One Additional Smart Contract Altcoin – Here’s Why

Altcoins

dailyhodl.com 30 September 2022 09:29, UTC
  
Reading time: ~2 m

Ethereum (ETH) co-founder Anthony Di lorio says that besides Bitcoin (BTC) and Ethereum, he is also keeping his eyes on Cardano (ADA), Polkadot (DOT) and Cosmos (ATOM).

In a new interview on Kitco News, Di lorio says he is stocking up on the three smart contract altcoins because of the people working on these projects.

“I’ve always been enthused with Polkadot. I’ve been enthused with Cosmos. I’ve been enthused with seeing what Cardano can do. Each one of them has what I’ve seen as potential limitations or potential problems, but I keep buying just to see.

I’m not in the inner workings of other projects and sometimes it’s difficult to spend the amount of time necessary to really dig in and really see where their potential fatal flaws might be, but projects like Polkadot… being done by Gavin Wood, another fellow Ethereum co-founder. Cardano with Charles Hoskinson. I have knowledge of the people behind them and I don’t know where they’re going to go with things but they are trying to solve problems.”

Should these platforms fail, Di lorio says they could still offer learning experiences.

“A lot of these technologies, whether they succeed or fail, are providing valuable learning lessons across the board that even if they do fail or something happens it’s like ‘well, what have we learned from that and what can we take from that?’ and potentially they were very valiant moves to try and solve a problem that they just couldn’t do. I don’t know where they are going but I am watching.”

Following the completion of the merge in September, di Lorio says that Ethereum still has to see how switching to a proof-of-stake mechanism will serve the platform.

“I’m concerned with centralization risks of proof of stake. I think right now,  it’s been shown that there’s only two addresses or something that are accounting for almost 50% of all validating that is happening.

I’m concerned with entities such as exchanges that are having a lot of the strength and the validating that’s going on right now. It’s not a perfect system and who knows there could be things that come out that weren’t thought about that might lead to bigger risks. Let’s see what happens and comes out of this to be able to make that determination about which system is better.”

Featured Image: Shutterstock/Solomandra/Tun_Thanakorn


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