Charles Hoskinson Praises Bitcoin (BTC) and Cardano (ADA), Attacks Another Altcoin!
Cardano (ADA) founder Charles Hoskinson, who has been making headlines with his statements, recently spoke about ADA and Bitcoin (BTC).
Based on a recent fraud case, Charles Hoskinson said that address poisoning fraud is less likely in Bitcoin and Cardano.
Hoskinson noted that, unlike Ethereum, UTXO-based blockchains avoid reusing endpoints.
According to Hoskinson, the account-based model used by Ethereum and many other EVM chains directly contributes to this type of fraud. Addresses are displayed in the transaction history, and wallets copy transactions from previous ones, increasing the likelihood of cryptocurrency fraud.
In contrast, Hoskinson noted that chains based on the UTXO model, such as Bitcoin and Cardano, operate differently. In this model, each transaction generates new outputs while consuming existing ones. Wallets typically create transactions from open UTXO selections rather than reusing account endpoints. Users don’t trust copying target addresses from their account history, reducing the likelihood of users being scammed through address poisoning.
“Another reason why UTXO is great is that it doesn’t affect Bitcoin and Cardano.”
Hoskinson notes that address reuse is a significant factor in these types of attacks, and the recent incident also illustrates why some crypto projects use different design models.
