It’s no secret that Cuban loves ETH.
Still, critics of Ethereum point to high gas prices and network congestion as something which holds the currency back from being their choice of crypto currency.
The developers of ETH are reportedly trying to remedy these issues by switching over to a proof of stake model, and Cuban points this out as one of the reasons he is confident that the Ethereum network is his choice of crypto asset.
Sources also say that the main reason Cuban is confident in Ethereum is due to the fact that no one really utilizes smart contracts yet, but when companies begin to embrace this, it will be a revolution in the business landscape.
Others support the idea that Cardano and it’s native token ADA will be a major competitor to Ethereum and its high gas prices, network congestion, and energy consumption.
It remains to be seen whether Cuban is on the money or not, but his perspective is always a welcome one.
Here’s more on the story:
The reason eth has a chance to blow up even bigger is that we have yet to really see business applications built on eth Smart Contracts start to happen. When they do, every company will be eth literate which will change the game. But L2s will have an important role to play too
— Mark Cuban (@mcuban) May 8, 2021
Daily Hodl reported:
While there’s no shortage of platforms competing to be the top smart contract protocol, Cuban highlights that Ethereum’s highly anticipated update to the proof-of-stake model will play a key role in maintaining its dominance in the space.
“It’s hard to keep up with all the different options and there really aren’t many hedging mechanisms for others. Of course, the path of [ETH] 2.0 will be important.”
Cuban, who is turning out to be a big Ethereum advocate, told crypto traders last month why they should buy Ethereum instead of Bitcoin.
“[Bitcoin and Ethereum] effectively are platforms that enable a lot to happen. But Bitcoin right now has really evolved to be primarily a store of value and it’s very difficult to use it for anything else. If you want, it’s become digital gold.
That’s great ! I’m happy for your application in Ethiopia and thousand of assets issued. Let’s talk when The platform stops brewing and starts serving users. Not saying you can’t do well. Just saying you aren’t there yet. But u are an Eth OG. Why no smart contracts to start ? https://t.co/x7wVHJG4Ae
— Mark Cuban (@mcuban) May 15, 2021
Mark Cuban’s feelings towards Ethereum competitor Cardano appeared in Crypto Defiance :
Although Cuban praised Cardano’s deal with Ethiopia, he made it clear that he was not convinced by the platform’s real usefulness and questioned why Cardano did not yet have smart contracts
Mark Cuban, a billionaire investor and avowed fan of Ethereum, made statements about the Cardano cryptocurrency (ADA) in a Twitter post. He said he thinks what Cardano has done in Africa is great, but has yet to see an interesting app that is based on the platform.
Mark Cuban replied that he does not believe that Cardano has sufficient utility and support, particularly mentioning that he never found a useful Cardano-based application.
Hoskinson did not like it very much and emphasized that Cardano-based projects are already used by five million students in Ethiopia and that thousands of assets have been launched in the Cardano network.
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