Cardano’s founder, Charles Hoskinson, has recently shifted his stance on Bitcoin. He now believes that Bitcoin’s DeFi market has the potential to surpass those of Solana and Ethereum in the future. This change comes after his earlier statements where he criticized Bitcoin and questioned its survival. The likely reason for this shift is the recent integration of the Cardano blockchain with the Bitcoin blockchain.
Integration of Cardano and Bitcoin Blockchains
The recent integration involved the Cardano blockchain joining the Bitcoin network, which will open up the DeFi market for the world’s largest asset class. Hoskinson has plans to revive the Bitcoin Education Project in 2025 and provide training for BTC developers, as well as hosting resources in GitHub’s Hyperledger Identus repository.
Hoskinson highlighted that with the implementation of Babel fees, BTC developers could use Aiken to create hybrid Cardano-Bitcoin applications and pay transaction fees with Bitcoin. This development marks the initial steps towards launching DeFi on Bitcoin and his belief that it could surpass the success of Solana and Ethereum in the future.
From Previous Criticism to Supportive Views
Just two months ago, Hoskinson made waves in the crypto industry by stating that the sector no longer needed Bitcoin. However, the recent moves towards Bitcoin’s DeFi direction have reignited his interest in the growth of the BTC ecosystem. He stressed that Bitcoin must adapt to change or risk losing its first-mover advantage.
Additionally, Hoskinson expressed his views on recent political developments in the U.S. and criticized Kamala Harris for labeling Donald Trump as Hitler earlier this week.
The integration of Cardano with Bitcoin is viewed as a significant step in the cryptocurrency ecosystem. Hoskinson’s future plans and expectations within the DeFi sector indicate a deepening collaboration between Cardano and Bitcoin. The growth of Cardano and Bitcoin together in the crypto market is anticipated, creating new opportunities in the DeFi space. The impacts of this new integration on the industry are eagerly awaited.
