First Dogecoin and Now That Too! The Founder of Cardano Turned His Direction to This Altcoin!
Charles Hoskinson, the founder of Cardano (ADA), suggested that the smart contract protocol Solana (SOL) could in theory be turned into a side-chain (side-chain) of the Cardano network, which would be much more for him.
Cardano’s Side Chain Model
During a recent YouTube AMA session, Cardano founder Charles Hoskinson revealed what sidechain partnerships look like on Cardano. stating that they have been talking about it for six years, thinking about it and evolving towards it, Hoskinson said:
You have a main chain and a side chain family, and each of them does different things. Cardano’s side chain model is that if a side chain comes and connects to the network, this side chain is a partner of the main chain. The main chain provides security, provides infrastructure, provides an ecosystem and provides liquidity. Cardano is listed on more than 200 exchanges, so you have all this scale, and in return the common chain pays inflation (block rewards) to the share pool operators and ISLAND owners, instead of paying inflation to the miners who have a link point within this chain, because Cardano is interested in the security of the side chain.
The founder of Cardano continued his words by stating that a side chain can have its own computational model, its own concept of data availability, its own network stack and its own consensus algorithm.
The Idea of Moving Solana to the Cardano Network
Hoskinson claimed that Solana would be in a much better position if she cooperated with Cardano. “You can take Solana, replace the current consensus algorithm with an algorithm that is 25 times faster and never crashes, turn it into a Cardano side chain,” the Cardano founder said. Solana pays the ISLAND owners to maintain it (probably at a lower inflation rate than they are currently paying). They don’t have to worry about security anymore and all these decentralized applications are moved here and they get better reliability and security and they get faster.” said.
In October, Hoskinson came up with the idea of Dogecoin (DOGE), the largest dog-themed cryptocurrency by market capitalization, becoming a side chain for Cardano.