To compete with Cardano and Ethereum, Algorand is developing a new staking system.
Chief Technology Officer John Woods recently updated the community on some interesting upcoming changes to Algorand, most notably to the platform’s staking system. The CEO said that the next pure Proof-of-Stake (PoS) implementation by Algorand will provide a more personally rewarding consensus, making it a viable competitor to Ethereum and Cardano.
Charles Hoskinson, a founder of Cardano, made Woods an intriguing offer as his confidence in Algorand’s ability to overtake the current top delegated PoS network grew.
After receiving a request for assistance from Algorand’s CTO, Cardano founder Charles Hoskinson jokingly suggested the company look into becoming a Cardano sidechain.
The outspoken creator of Cardano is of the opinion that the network would benefit greatly from Algorand switching to its codebase. This isn’t the first time Hoskinson has made such a proposal; he made a similar offer to Solana a while back.
Even if Algorand decides not to take Hoskinson up on his offer, a merger between the two networks would be huge for the cryptocurrency industry. In order to accomplish this shift successfully, Algorand would do well to work with Cardano’s active development community.
The community’s mixed reception makes it seem doubtful that Algorand and Cardano will ever work together.
Most people were excited by Charles Hokinson’s invitation to work together, but others were sceptical, wondering whether the controversial creator was just trying to start a fight or was serious about working together.
Hoskinson’s fondness for Algorand is well-known; the network’s creator has praised it on several occasions.
Some Algorand followers used the conversation to make memes mocking Hoskinson and jokingly advising him to rest. The company’s founder laughed off the remarks. The potential effect of the partnership was inspiring to others.
Cardano’s creator has yet to respond to the CTO of Algorand John Woods’s claim that his company stands to gain more from working together.
