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ADA 
ETH Charles Hoskinson: The encryption industry urgently needs to mature, and zero-knowledge technology and decentralized insurance are the future.
Charles Hoskinson, founder of IOHK and Cardano, recently talked about recent bridging attacks and security breaches, pointing out that the cryptocurrency industry still needs to mature. He emphasized that pursuing speed alone is not the right direction to solve security issues, and zero-knowledge (ZK) technology and a decentralized insurance system must be introduced.
In response to the hacker attack on the third-party bridge system between Binance and Cardano chains, Hoskinson said that traditional software security models are no longer able to withstand artificial intelligence-based network attacks. He pointed out that the industry should not rely on manual or multisignature structures and should move to ZK systems based on mathematical principles such as Project Midnight. He believes that to reach the level of traditional financial systems, alternative insurance pools based on real-world assets (RWA) must be established to compensate users when they suffer losses.
Related news: Cardano completes the v11 upgrade, Leios will increase the transaction speed by 60 times.
Hoskinson announced that the Cardano ecosystem has successfully completed the v11 upgrade. He said the update was the first major hard fork implemented entirely through on-chain community voting. The new system introduces the Groth16 zero-knowledge proof verification infrastructure. The next major upgrade, Leios, is expected to increase Cardano's trading speed by about 60 times. Hoskinson also pointed out that Cardano has completed the construction of governance mechanisms similar to legislative and judicial functions, and the next step will be to create a decentralized "executive agency" responsible for managing marketing, commercial promotion and growth strategies.
Hoskinson criticizes Ethereum's governance model and emphasizes the advantages of Cardano's treasury system.
Hoskinson severely criticized Ethereum's governance and financing model and pointed out that Cardano's treasury system is superior. He said that Cardano's development relies on on-chain treasury funds, while Ethereum has gradually fallen under the control of large enterprises and oligarchic structures due to its lack of decentralized governance.
Comparison of L2 solutions: Hoskinson calls Ethereum L2 "parasitic" and Cardano adopts a collaborative model.
Hoskinson believes that Layer-2 (L2) solutions in the Ethereum ecosystem are "parasitic" and cause damage to the main chain. In contrast, Cardano offers ADA holders multiple token returns through a "collaborative" L2 model.
* The above content does not constitute investment advice.
