Cardano Founder Challenges Critics on Security Claims

Cardano founder Charles Hoskinson has fired back at critics who have questioned the security features of the Cardano blockchain.

In a recent tweet, Hoskinson called out the competition for spreading misinformation about the platform’s EUTXO model. He specifically responded to a tweet from a user who claimed that the design choices of Cardano’s secure formal verification were being ridiculed by experts in the field.

The Extended Unspent Transaction Output (EUTXO) model is an innovation in the blockchain space introduced by Cardano.

It builds upon the traditional UTXO model used by Bitcoin, where users spend unspent transaction outputs rather than account balances.

The EUTXO model enhances this approach by incorporating smart contract functionality while still maintaining the inherent security and scalability benefits of the UTXO model. This design allows for more predictable and efficient transactions while reducing the likelihood of certain security risks such as double-spending attacks.

Critics, including Robert Leshner, have been discussing the potential vulnerabilities of smart contracts and their susceptibility to attacks by increasingly sophisticated language model learners (LLMs). The debate has centered on Cardano’s EUTXO model, which some argue is less secure than alternative models.

Cardano proponents, however, have maintained that the blockchain’s rigorous formal verification design choices make the platform more secure, not less.