On February the 14th, Charles Hoskinson, the founder of Cardano, started a stream called "Progress". During the stream he made a statement that he isn't worried about Ethereum. According to Charles, although Ethereum was able to accumulate a little bit of monopoly, that will fade away like with Mosaic and Myspace.
That made me think of the famous saying that weed is a so-called gateway drug. Cryptocurrency is still an unknown world for a lot of people. Bitcoin and Ethereum, however, are gaining more and more traction. They are also probably one of the first Cryptocurrencies people invest in, which opens the gates to the Crypto world. At the moment there are around 8.500 coins with various functions and use cases.
What will happen if people continue to learn more about some of the problems of established coins and look into different altcoins?
For example, Cardano (ADA) strives to improve interoperability, scalability and sustainability. With ETH's evergrowing GAS fees and BTC's lack of scalability, maybe Charles Hoskinson is right. If ADA proves its functionality, will people move away from BTC and ETH?
What are your thoughts on this?
In my opinion, only time will tell.
