dailyhodl.com
Charles Hoskinson thinks smart contract protocol Solana (SOL) could theoretically become a sidechain of the Cardano (ADA) network.
During a new YouTube AMA session, Hoskinson lays out what sidechain partnerships look like on Cardano.
“For six years now, we’ve been talking about this, thinking about this, pushing this forward, this concept that you have one main chain and a family of sidechains and each and every one of them does different things. And the sidechains model of Cardano is that if a sidechain comes in and connects to Cardano, that sidechain is a partner of the main chain. The main chain provides security, it provides infrastructure, it provides an ecosystem and it provides liquidity.
It’s listed on 200-plus exchanges, all these types of things, so you have all that scale, and in exchange for that, the partner chain, instead of paying its inflation to miners who are a nexus within that chain, it pays the inflation (the block rewards) to the stake pool operators and the ADA holders, because Cardano’s taking care of the security of the sidechain.”
The Cardano founder says a sidechain can have its own computation model, its own notion of data availability, its own network stack and its own consensus algorithm.
Hoskinson says Solana would be in a much better position if it teams up with Cardano.
“So you could take Solana, replace the current consensus algorithm with something 25 times faster and doesn’t collapse all the time, make it a Cardano sidechain, Solana would then be paid to ADA holders to maintain it (probably at a lower inflation rate than they’re currently paying right now). They don’t have to worry about security anymore, and then all those DApps move over and they get better reliability and security and they get faster.”
In October, Hoskinson also floated the idea of leading memecoin Dogecoin (DOGE) becoming a sidechain for Cardano.