- Algorand is on track for a major upgrade.
- Algorand is working on a new staking framework that could surpass Cardano and Ethereum.
- Charles Hoskinson has an offer Algorand can’t refuse.
In a recent update, Algorand’s Chief Technology Officer John Woods shared exciting developments coming to Algorand, particularly its staking framework. The executive revealed that Algorand’s upcoming pure Proof-of-Stake (PoS) would offer a more individually incentivizing consensus, positioning it as a potential challenger to Ethereum and Cardano.
With Woods growing optimistic about Algorand surpassing the leading delegated POS network, Cardano Founder Charles Hoskinson had an interesting offer.
Hoskinson Makes An Offer Algorand Can’t Refuse
In response to the Algorand CTO, Cardano Founder Charles Hoskinson wittingly proposed that Algorand should explore becoming a Cardano sidechain, adding that he’s always ready to help.
The rowdy Cardano founder believes that Algorand shifting its codes to Cardano would offset its weaknesses and significantly improve the network. It’s worth noting that this isn’t the first time Hoskinson has made such a proposition, previously extending a similar offer to Solana.
While it remains uncertain whether Algorand will seriously consider Hoskinson’s offer, the potential partnership between the two networks could be monumental for the crypto space. Algorand could benefit greatly from partnering with Cardano’s vibrant developer community to make its transition.
However, given the community’s mixed reaction, it appears highly unlikely that a partnership between Algorand and Cardano will come to fruition.
The community’s reaction to Charles Hokinson’s offer was largely positive, although some wondered if the controversy-ridden founder was merely instigating another feud or genuinely interested in the collaboration.
Interestingly, Hoskinson’s affinity for Algorand is well-known; the founder has complemented the network on various occasions.
During the exchange, some Algorand fans took the opportunity to create memes and taunt Hoskinson, playfully suggesting that he should get some sleep. The founder took these comments in good humor. Others were excited about the collaboration and the impact it could have.
Interestingly, Algorand CTO John Woods also replied, pointing out that Cardano would benefit more if this collaboration were to happen, to which the Cardano founder has yet to reply.
On the Flipside
- Algorand’s largest DeFi protocol Algofi recently shut down operations.
- At press time, Algorand ranked 33rd and Cardano 14th in DeFi TVL.
Why This Matters
Algorand boasts a vibrant ecosystem with a market cap of $800 million, ranking 46th in the market. The protocol is slowly rising despite having a lot of limitations. Collaborating with Cardano could turn things around for the network.
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