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Charles Hoskinson Highlights Best Part of Cardano’s eUTxO Architecture

Cardano founder Charles Hoskinson underlines the best feature of the EUXTO model: greater functional programming skills.

Charles Hoskinson Highlights Best Part of ADA’s eUTxO Architecture

Cardano is an Unspent Transaction Output (UTXO)-based blockchain, similar to Bitcoin, that uses a different accounting mechanism for its ledger than account-based blockchains like Ethereum. ADA, on the other hand, employs a cutting-edge Extended Unspent Transaction Output (EUTXO) paradigm that was introduced with the Alonzo upgrade to accommodate multi-assets and smart contracts.

This comes after Justin Bonus, the founder and CIO of CyberCapital, criticized Cardano for making substantial trade-offs by depending on a UTXO mechanism rather than an account model.

Limited interoperability across smart contracts was noted by the CyberCapital CIO as one of EUXTO’s “basic weaknesses.” While this may limit the types of contracts that may be developed on Cardano, he claims that “the trade-off for the loss of concurrency is parallelism, which provides scalability benefits.”

Because EUTXO extends the UTXO concept by allowing output addresses to include complicated logic to determine which transactions can unlock them, this is the case. Due to the “local” nature of transaction validation, a large amount of parallelism can be achieved by adding custom data to all outputs.

The EUTXO paradigm appears to offer greater benefits, including improved security and predictability in smart contract execution costs, as well as more powerful parallelization.

Cardano surpasses Terra to become the 8th largest

Charles Hoskinson Highlights Best Part of ADA’s eUTxO Architecture

Cardano has surpassed Terra (LUNA) to become the eighth largest cryptocurrency by market capitalization, according to CoinCu data. Cardano currently has a market value of $25.27 billion, putting it ahead of Terra, which has a market capitalization of $21.85 billion.

Cardano had an unexpected comeback on May 4 before the recent price decline. On-chain data shows a whale shopping binge and a surge in retail demand.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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