From Cardano to Ethereum, 2020 Could Be Deciding Year for Proof-of-Stake

Two of the industry's most hotly anticipated PoS networks are scheduled tolaunch in Q1 - namely ethereum and Cardano.

The 12th largest cryptocurrency by market capitalization, Cardano is currently governed by a federated system of transaction validators made up of three organizations: the Cardano Foundation, IOHK and Emurgo, a structure that drew criticism for being over-concentrated.

The public network will have 100 times more people running its software than bitcoin, ethereum or any other PoW system, said Charles Hoskinson, CEO IOHK, the company behind Cardano, in an interview.

"Now, you're going to see big projects like Cardano and ethereum taking these results even further. We're definitely excited."

"There's probably five or six what we call large-market-size proof-of-stake coins and Cardano is one of them. It's why we got into this business. All these big, exciting projects are either moving to PoS like ethereum or launching with PoS like Cardano."

Cardano as a test case Cardano is a running test case of the viability of PoS systems for a global audience.

Full development of the Cardano platform from Shelley to Basho, and an additional phase dubbed "Voltaire," which is dedicated to on-chain governance, is expected to be completed by the end of 2020.

In 2018, Hoskinson told CoinDesk IOHK had earned "Nine figures" in revenue acquiring new corporate and government partnerships for the Cardano blockchain.

Hoskinson is confident IOHK has amassed the technical know-how to bring the full Cardano project to full fruition.

From the fundamental similarities between Cardano and ethereum, which he described as "Sibling projects with a lot of common genetics."