Cardano Creator Says Bitcoin Didn’t Go Far Enough
In a recent tweet, Cardano founder Charles Hoskinson opined that Bitcoin hadn’t gone too far with its UTXO model due to its limited programmability. He sees the Extended UTXO (EUTXO) accounting model as “the logical next step.”
Ethereum, which is currently the leading force in the decentralized finance (DeFi) space, uses the account-based model, which represents assets as balances. Hence, users are able to partially use their accounts instead of spending the whole thing.Vitalik Buterin, the co-founder of Ethereum, opened for the account-based model instead of the UTXO because he became frustrated with Bitcoin’s limitations.
Source
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