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On Saturday (May 15), Charles Hoskinson, Co-Founder and CEO of IOHK, said Cardano’s slower, more thoughtful, academic approach to blockchain development mean that Cardano will be better than Ethereum for both app developers and users.
Hoskinson took to YouTube to explain to Cuban (and others) in a video what are some of the some of the things that make Cardano special. So, why was Hoskinson telling Cuban, who is the majority owner of the professional basketball team Dallas Mavericks, as well as one of the “sharks” on the highly popular reality show “Shark Tank”, about the benefits of Cardano?
It all started when Cuban posted the following Twitter thread to say for layer 1 and 2 blockchain platforms to be successful having just higher transaction throughput and lower transaction fees are not enough and “There must be a CURRENT network effect and significant user growth.”
Mark Cuban thread:
Having more TPS and lower gas fees is not enough. There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because w few exceptions, marketing in the crypto universe is beyond awful.
— Mark Cuban (@mcuban) May 15, 2021
After Twitter user “@kryptojumpman” told Cuban that he needs to take a closer look at Cardano, Cuban replied that he had never come across a useful Cardano-powered application.
I've seen their research and releasee about what they will do. Like in Africa. Which is great ! But I've never seen an application that is compelling for me to use. Can you point me to something I can use now and benefit from ?
— Mark Cuban (@mcuban) May 15, 2021
After another Cardano fan “@Crypto_fan_IN” told Cuban to review Cardano, Cuban sent a reply that suggested that he believes that $ADA has no/little utility due to lack of useful Cardano applications and lack of support for Cardano’s ADA token from crypto payment processor BitPay (which is the company that helps Cuban’s Dallas Mavericks to accept cryptoassets such as Bitcoin, Litecoin, and Dogecoin for a methods of payment for merchandize such as t-shirts).
Are you, personally, able to use $ADA for anything ? If so, what have you used it for ? That's the question I ask about all Crypto. Do you find yourself using it for anything that you find value in ? https://t.co/qTt3ndjKhI
— Mark Cuban (@mcuban) May 15, 2021
This promoted Hoskinson to invite Cuban to his Colorado ranch. Cuban, however, rejected Hoskinson’s invitation, and asked Hoskinson to explain to him why he should use ADA on a daily basis.
Seriously mark? It was just a friendly invite, but you want me to pitch ada over Twitter? OK, we have five million students in Ethiopia, thousands of assets issued on Cardano, a nice DApp ecosystem brewing for smart contract launch, a new VC model with catalyst, huge community pic.twitter.com/IUM77NKapG
— Charles Hoskinson (@IOHK_Charles) May 15, 2021
This led Hoskinson to create the following video to explain what makes Cardano unique.
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.