Tech Giants Plot to Steal Crypto Thunder—You Won’t Believe How!

by

So, Charles Hoskinson, the big cheese behind Cardano, just dropped a bombshell. Apparently, he thinks that our beloved tech overlords—Meta, Google, Apple, Microsoft, and Amazon—are just itching to replace Layer-1 networks. Because, you know, why not? They’ve already taken over our lives, so why not our blockchains too? 😏

Tech Giants: The New Crypto Kings?

During a chat on X (formerly known as Twitter, because rebranding is all the rage), Hoskinson laid it out: once the stablecoin bill gets a thumbs up, these tech titans could waltz right in and start their own blockchain parties. 🎉 He even suggested they might team up with Circle to whip up some stablecoins. Because who doesn’t want more coins in their digital piggy bank?

He pointed out that with Apple Pay and Google Pay already in the mix, these companies are practically sitting on a goldmine of users. I mean, they’ve got billions of people glued to their screens—what’s a little blockchain competition among friends? 📱

And let’s be real, if anyone can create their own Layer-1 networks, it’s these guys. Remember when Meta tried to dip its toes into crypto and flopped harder than a fish out of water? Well, if Congress gets its act together and passes those crypto bills, we might just see a sequel. Spoiler alert: it could be a blockbuster! 🎬

Opportunity Knocks—Will They Answer?

According to Hoskinson’s “sources” (which I assume are just his coffee shop buddies), the US Congress might pass that stablecoin bill in the next 100 days. And you can bet your bottom dollar that Meta, Google, Apple, and the gang won’t let this golden opportunity slip through their fingers. They’re like kids in a candy store, and crypto is the sweetest treat! 🍬

He’s convinced that Layer-1 networks don’t stand a chance against these behemoths. I mean, they’ve got the user base, the licenses, and the power to block access to these networks faster than you can say “decentralization.” Talk about a power move! 💪

And let’s not forget the sneaky tactics they could pull. Imagine them deciding to stop running nodes for Layer-1s—suddenly, it’s like a game of musical chairs, and guess who’s left standing? Not the Layer-1s, that’s for sure!

With their fancy confidential computing, these tech giants are already a step ahead. Meanwhile, Layer-1s are still trying to figure out how to play nice in second-generation trust-execution environments. It’s like bringing a butter knife to a gunfight. 🔫

Just days after all this drama, Hoskinson hinted at a potential partnership with Microsoft. Cue the dramatic music! This has sent ADA prices soaring, with some folks predicting it could hit its all-time high of $3.10. Because nothing says “trust me” like a partnership with a tech giant, right? 💸

Read More

2025-02-16 04:29