September 27, 2022

Cardano CEO Recommends Bitcoin Switch to Ofelimous


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The founder of the Cardano blockchain and one of the creators of the Ethereum (Ethereum) Charles Hoskinson, speaking about the upcoming Vasil hard fork, also noted that Bitcoin (Bitcoin) is needed to continue successful work and mass adoption by society. He recommended that the BTC network switch to the Ofelimous protocol developed by his company and explained his opinion.

The programmer recorded a video in which he commented on the latest recommendations of the US White House to suppress all energy-intensive industries, including bitcoin mining. Hoskinson assured that the Ofelimous protocol recently announced by his company can help Bitcoin survive and not fall under the repression of the authorities because of the threat to the planet’s climate.

He revealed that Ofelimous is a proof-of-work (PoUW) protocol that was created to reduce the carbon footprint of proof-of-work chains for digital currencies such as Bitcoin and others. Unlike the standard proof-of-work (PoW) mechanism, the new algorithm ensures that the computing power of the miners is dedicated to solving problems that arise in the real world.

This protocol has a small minus – it makes the blockchain that works on its basis a little less secure. The point is that attackers can use it to solve simpler problems, creating more blocks than miners with similar energy resources. However, Hoskinson stated that this could be avoided. He recommended that developers study the technical component of Ofelimous in more detail and seriously think about the advisability of migration.

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