Cardano's Founder Claims Bitcoin's Development Isn't Enough

Cardano founder Charles Hoskinson recently tweeted that Bitcoin's UTXO concept doesn't go far enough because it is limited by programmability. He believes that extending the UTXO (EUTXO) accounting model is "the natural next step.

Ether, which is now the dominant force in the decentralized finance (DeFi) space, uses an account-based approach where assets are represented as balances. As a result, consumers can only use a portion of their account, not all of it. Because he was uncomfortable with the limitations of Bitcoin, Ether co-founder Vitalik Buterin opted for an account-based architecture instead of UTXO.

Twitter user Sooraj claimed that the EUTXO architecture was superior to the Ether account-based paradigm in the viral thread forwarded by Hoskinson. Since two or more parties can control the same data, the latter has a "larger" attack surface area. The EUTXO model is highly parallel and scalable.