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Tuesday, September 28, 2021

Space X CEO Elon Musk Goes on Record

Elon Musk, the SpaceX CEO, is delivering broadband satellite Internet to the globe. He has given the name Starlink service to the new service by SpaceX and anticipates that it would expand to develop into a US $30 billion-per-year commercial enterprise. However, is it essentially an underestimation?  

Guessing from comments lately made by the COO (Chief Operating Officer) and President of SpaceX Gwynne Shotwell, it appears the US $30 billion could turn out to be an underestimated figure. Shotwell made the comments at the Satellite 2021 Low Earth Orbit Digital Forum

Taking into account that Elon Musk, the CEO of SpaceX recently tweeted a declaration that the rating of upcoming financial undertakings will take place in Cardano that is a cryptocurrency, there is a substantial possibility that the market capitalization of both SpaceX and Cardano would attain unparalleled highs shortly.

In this context, it is worth mentioning that early bird activity performers might experience a recurrence of the 2017 Bitcoin blast once more. 

As laid down by Elon Musk, if investors act promptly, a tiny investment worth the US $500 might snowball into the US $81,000 by the end of the year.

Charles Hoskinson, the founder of Cardano, opined that the Tesla of Elon Musk should acknowledge ADA. He considers that ADA is better than Bitcoin and Tesla should espouse it as a payment mode rather than the elementary cryptocurrency

Hoskinson said that the indigenous cryptocurrency of the project, ADA, ranks among the most environment-friendly and green digital properties. Besides, he reckoned that Tesla should pick Cardano if it is truly concerned regarding ecological sustainability.

Charles Hoskinson underlined the advantages of Cardano, his proof-of-stake cryptocurrency platform in a recent discussion with Lex Friedman. Hoskinson observed that the PoS (Point of Sale) setup is much improved in comparison to its contenders as far as power usage is concerned. Furthermore, he construed that Cardano and the indigenous digital property have to be the first preference for Tesla, the colossal electric vehicle manufacturer of Elon Musk. 

If they are concerned about carbon diminution, ecological sustainability, substitute power, as well as carbon neutrality, one can’t be part of a setup where there is an absence of an in-built tool to limit the power consumption, said Hoskinson.

As a substitute power firm, Charles said that Tesla has to concentrate on the most eco-friendly cryptocurrencies like ADA, not the extremely power-eating BTC. Other than the environmental harm that it creates, the principal digital property is without a lot of useful characteristics, as stated by the creator of Cardano.

BTC features the lowest possible programmable aspects among all the cryptocurrencies and if somebody wishes to do something out-of-the-box, there is no practical option to do that. 

Nonetheless, Hoskinson also signaled that all cryptocurrency projects are in the experimental phase and conceal their downsides. Although Cardano has garnered substantial achievement lately, there is no guarantee that it would meet its objectives in the days to come.

Cardano is more improved as compared to Ethereum

This is not the first occasion Charles has promoted Cardano over its competitors. By the end of May 2021, he censured the network of Ethereum by terming it hyped and highlighting the absence of key features. Later, Hoskinson disclosed his three arguments why ADA is the superior cryptocurrency project.

1) Cardano can function with metadata and with robotic control. According to his view, Ethereum is just useful in processing smart deals. At the same time, its competitor can perform that with authority and abidance.

2) Secondly, there has been no cooperation on the part of Ethereum with the regional administrations of developing nations for the well-being of their nationals. At the same time, Cardano has made that possible in Georgia, Tanzania, and Ethiopia.

3) Thirdly, Charles discoursed that Ethereum comes with a quite perplexing framework, and the forthcoming ETH 2.0 version launch would result in the expiry of the whole network.

Before anything else, Ethereum is downing itself. Elon Musk is substituting it with Ethereum 2.0. Ultimately, ETH 2.0 would terminate ETH 1.0, Hoskinson stated.

So, in conclusion, it can be stated that SpaceX or Elon Musk, or Tesla requires Cardano/ADA and not vice versa. Cardano, the largest decentralized financing platform across the world, has more than the US $1 million accessible for each round to teams ramping up on ADA and development communities. Every financing round has expanded in its ambit, the extent of financing, as well as community participation.

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Kiara Dawson
Kiara Dawson comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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