The cardano network took a step closer to stiffer competition with the larger Ethereum network last weekend, after a key update meant it could host decentralised financial applications.
But founder Charles Hoskinson doesn't believe any blockchain will dominate in the coming years, not even so-called 'ethereum killers' such as cardano. Just as when the internet became part of everyday life, consumers stopped questioning which manufacturer made some of the key hardware components that made connectivity possible.
"You don't ask:" Is it a Samsung router? Is it an Apple router? " and I hope that's what happens in an industry where cardano is the infrastructure, ethereum is the infrastructure, bitcoin is the infrastructure," Hoskinson told Insider in a recent interview.
"Of course, we're competing from within, and companies, governments and people who care about these things will care about them. But at the end of the day, if it works for everybody, we have to have this" Wi-Fi ". moment " where it's consumer-friendly and it just works on your phone and you can just set up a transaction, you can easily move between things," he said.
The latest in a series of Cardano networks from Alonza upgrades on Sunday means it is now possible for blockchain to run applications such as smart contracts, or accept digital collection tokens - known as non-substitutable tokens, for example.
Ethereum, the network that Hoskinson founded with Vitalik Buterin and several others a few years ago, is the largest network with such capabilities, known in the industry as a Tier 1 protocol.
Cardano, Solana and Avalanche have all seen their native tokens rise in value in recent weeks as they release updates that boost their chances of breaking away from the Etherium lead.
But Hoskinson said it's not so much about competition and dominance as it is about blockchains working together.
"What is likely to happen is that we will live on a blockchain-based internet," Hoskinson said.
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Right now, the different blockchains are not yet able to connect to each other. But thanks to so-called layer zero protocols such as polkadot, such interoperability will become a reality.
