Ethereum was at the forefront of the DeFi sector explosion. However, the Bitcoin community believes that innovations in the blockchain will make it easier to compete with existing players.

Erik Voorhees from ShapeShift recently answer Tweets from Bitcoin enthusiasts – and advocate its dominance in smart contracts.

“Bitcoin has smart contracts. There is nothing to argue about. It is best to ‘find other leads’ to shill altcoins. “

In a tweet, Voorhees stated that the presence or absence of a smart contract is out of the question.

“Bitcoin has some smart contract functions, but it is much more limited than other protocols like Ethereum.”

Therefore, Ethereum has an “attack surface”

bigger and more complex “. Ethereum is currently the largest blockchain, both in terms of Total Value Locked (TVL) and the number of on-chain protocols, although its TVL market share has dropped from 97% in January this year to 65% at the time of writing .

A system’s attack surface is the complete set of vulnerabilities that exist in that system. It is a metaphor used to assess the security in a hardware and software system.

Cardano has all the expressiveness of Ethereum, the attack surface of Bitcoin

Source: Defillama.com

On the other hand, Charles Hoskinson, CEO of IOHK, was quick to respond:

“Cardanos EUTXO and Plutus have the expressiveness of Ethereum with the attack surface of Bitcoin.”

Smart contract race At the beginning of this year, the Alonzo hard fork equipped Cardano with smart contract functionality. The upgrade implemented an extended audit model for unused transactions (EUTXO) on Cardano as an extension of the UTXO model used by Bitcoin. According to the Cardano Foundation, the EUTXO model gives the network better “scalability and privacy” as well as “adding custom data to all spending”. However, the ADA price campaign has been a little unconvincing since then. Hoskinson was on the Cardano FUD scene

speak

in a recent tweet:

“They’re scared because Cardano 2 doesn’t need magic to survive. It’s a future-proof design that we are systematically building on with the strongest and most committed community. “

Even if the price is stagnating, it is worth noting that Cardano has become one of the most active chains on the network, recently surpassing Ethereum in daily trading volume, second only to BTC. When it comes to Ethereum, Cardano claims that Plutus “supports custom tokens” with much less code. In addition, a Cardano developer has made another update

introduce

three scripts referenced in the Cardano Improvement Proposal (CIP), including suggestions for improving Plutus. CIP-31 aims to enable “eUTXO as a reusable information storage mechanism”, which significantly increases the significance of the sequence. The IOHK developer, who has a KtorZ account on Twitter, also stated that the next two suggestions will make information available in the chain.

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