Cardano founder Charles Hoskinson Has Change of Heart for Bitcoin, Here’s Why

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As an analyst with over a decade of experience in the cryptocurrency market, I have witnessed numerous shifts and changes within this dynamic industry. Charles Hoskinson’s recent change of heart towards Bitcoin is a fascinating development that sheds light on the evolving nature of blockchain technology and decentralized finance (DeFi).

Charles Hoskinson, founder of Cardano, has expressed a shift in his perspective regarding Bitcoin. He now anticipates that the Decentralized Finance (DeFi) market associated with Bitcoin will surpass both Solana and Ethereum markets in the future. This change of opinion from Hoskinson was voiced not long ago, following his previous statements where he questioned the necessity of Bitcoin and expressed doubts about its survival. The cause for this transformation in thought might be attributed to the recent linking of the Cardano blockchain with the Bitcoin blockchain.

Cardano founder Charles Hoskinson Turns Bullish on Bitcoin

Yesterday saw an unprecedented connection: the Cardano blockchain became linked with the Bitcoin network through the BitcoinOS Grail bridge. This link-up is expected to expand the reach of Decentralized Finance (DeFi) within the global asset class market, which includes Bitcoin as its largest segment.

After this progression, Hoskinson announced his intentions to revive the Bitcoin Learning Program in 2025. Furthermore, he is planning to unveil an educational curriculum tailored for BTC developers, featuring essential resources stored within the Hyperledger Identus repository on GitHub.

Additionally, Charles Hoskinson mentioned that by incorporating Babel fees, Bitcoin developers can construct cross-platform apps combining Cardano and Bitcoin technologies, utilizing Aiken, and settling transactions costs with Bitcoin.

According to the creator of Cardano, this event signifies the start of Decentralized Finance (DeFi) on Bitcoin. He is optimistic that it may outdo the accomplishments of Solana and Ethereum in the long run.

From BTC Bashing to Praising

Approximately two months ago, the founder of Cardano stirred a significant commotion within the cryptocurrency market by criticizing Bitcoin’s role. In a video shared on social platforms, Hoskinson expressed his viewpoint that the crypto industry no longer relies on Bitcoin. Remarkably, he also holds the belief that in the future, Cardano could potentially surpass both Bitcoin and Ethereum.

For Bitcoin to thrive, it relies on the support of the industry… However, the industry can now function independently of Bitcoin. I’m struggling to see how it continues to exist. It has become more like a belief system rather than an ecosystem. Therefore, we don’t necessarily require Bitcoin.” He stated this.

In essence, Hoskinson emphasized that Bitcoin must evolve to keep up, otherwise it might forfeit its early lead. With Bitcoin delving deeper into Decentralized Finance (DeFi), it appears that Hoskinson is reinvigorated about the expansion of the BTC ecosystem once more.

In a recent turn of events, the creator of Cardano has voiced his thoughts on the ongoing political landscape in the United States. Notably, earlier this week, he publicly criticized Vice President Kamala Harris for comparing former President Donald Trump to Adolf Hitler.

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2024-10-26 09:15