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AdaLend CEO explains why they chose Cardano over Ethereum


 

Kaspars Koskins, CEO of AdaLend, believes that the decentralized finance (DeFi) space will grow even bigger this year.


The CEO of AdaLend pointed out in a recent interview that the Cardano blockchain is in line with the company's goals. Hence the reason why they chose to build their platform on the Cardano blockchain instead of Ethereum. Koskins said:


“We chose to build on the Cardano blockchain because Ethereum is no longer usable by the majority of people on the planet due to the high transaction costs – with gas fees running into hundreds of dollars per transaction. This is unacceptable today to ordinary people in the western world, as well as millions of unbanked people in the developing countries of Africa and Asia, who borrow and borrow far less.”


Koskins lamented that Ethereum can currently only be used by the wealthy, while new platforms like Solana and Avalanche have centralization, security, and reliability issues. He added:


"AdaLend's vision aligns perfectly with that of Cardano founder Charles Hoskinson, who is passionate about improving financial outcomes for people around the world, regardless of race, nationality, gender or financial status."


The CEO of AdaLend added that the DeFi ecosystem would grow in the coming years as more and more people took control of their financial future. He emphasized:


“DeFi systems are, by definition, more resilient and anti-fragile than centralized entities like BlockFi. The AdaLend protocol and network is more like Bitcoin or Cardano, while the network scale becomes more robust against attacks.”


Koskins said that with decentralized finance platforms, people can earn a good interest rate on their hard-earned savings without worrying about the risks of the government attacking the platform like they did with a centralized crypto lender like BlockFi , or when the government tries to freeze their bank account if they don't agree with their opinion.


The DeFi space has seen massive growth over the past year, both in terms of adoption and the overall value locked into smart contract blockchains.

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