- Charles Hoskinson shared his favorite crypto projects, besides Cardano, with the community in a new interview.
- He follows the developments of Zcash, Dash, Ergo, StarkWare, Lightning Labs, Tezos, Algorand, Avalanche and the Basic Attention Token.
The co-founder of Cardano and Ethereum, Charles Hoskinson, spoke in an interview about his personal favorite projects on the cryptomarket. Hoskinson, the CEO of Input Output Hong Kong (IOHK), the company responsible for the development of Cardano, said that he has a total of nine other crypto projects that he considers very interesting.
Hoskinson describes that Zcash has strongly pushed the development in the area of privacy coins and Cardano has copied some functions and additionally enhanced others to implement them in Cardano:
They’ve advanced the entire discussion of zero knowledge cryptography. We’ve borrowed some of their stuff. We’ve innovated on some of the things.” … “They’re carrying the banner of privacy and the banner of inclusive accountability, and both of these things are incredibly important as a core.
Zcash offers the anonymous sending of transactions via so-called shielded addresses, whereby each user can decide for himself whether to use this function.
Dash is another privacy coin that Hoskinson says has perfected the use of a treasury that allows the community to have a significant impact on the development of the project. At Dash, ten percent of the mining reward flows into the treasury to finance technical development, community projects and marketing. Hoskinson praises this mechanism:
I have a lot of respect for the Dash community. I think they were one of the first to really prove out a cryptocurrency treasury and show the power of a treasury. And they even sponsored research at Arizona State University with it.
Dash also offers the sending of anonymous transactions using the PrivateSend function. Transaction data is mixed with transactions of other people to make the sender and recipient and the transaction amount untraceable. In some countries, however, privacy coins such as Zcash, Dash or Monero have been removed from exchanges as they pose a threat to the financial system according to some governments around the world.
Tezos is another newcomer among the atcoins and was able to climb into the top 10 of the largest cryptocurrencies within a short time. Hoskinson has great respect for the development work of the Tezos developers:
I don’t really like their community too much because they’re so toxic and negative towards us and they just never seem to let an opportunity kick us when we’re down, escape. But overall, I do have a lot of respect for at least the philosophy and the technology that they’ve been deploying.
Ergo is an innovative cryptocurrency, which pursues revolutionary approaches, but is still relatively unknown in the crypto market. Ergo is developed under the leadership of Alex Chepurnoy, who has also contributed significantly to the further development of Cardano. Ergo is based on a proof of work consensus algorithm and uses functions such as ring signatures (known from Monero), oracles (known from Chainlink), zero knowledge proofs and an adjustable block size. Hoskinson was visibly impressed with Ergo:
It’s one of the most revolutionary cryptocurrencies ever built. Got so many crazy ideas like non-outsourceable puzzles and sigma protocols and pruning the blockchain and roller chains. All this crazy stuff. Even has a proof of no premine.
Algorand is an ambitious cryptocurrency, which, like Cardano, is based on scientific work and will be based on it. Algorand is also the first cryptocurrency to rely on the Pure-Proof-of-Stake (PPoS) consensus mechanism. Hoskinson explains that both projects can learn and benefit from each other’s research:
… they are another one of the science coins and we all kind of support each other. Even though we get academically competitive, we’re able to reference each other’s work and learn from each other and grow from each other.