Hoskinson Reveals How Cardano Could Flip Bitcoin

Cardano founder Charles Hoskinson outlines Cardano’s vision to surpass Bitcoin with innovation, new listings, and advanced governance, targeting a multi-trillion ecosystem.

Cardanians on X recently shared a statement from Charles Hoskinson, where he emphasized the potential ease of surpassing Bitcoin. According to Hoskinson, Bitcoin has stalled, while the Cardano community is equipped with the necessary resources, inspiration, and tools to advance and take the next step.

Charles Hoskinson explains how easy it is to flip #Bitcoin. Bitcoin stalled. The #Cardano community will have the resources, inspiration and tooling to take the next step. This will allow further steps to be taken. pic.twitter.com/PG7KwNJYtF

— Cardanians (CRDN) (@Cardanians_io) July 11, 2024

In an interview with Altcoins Daily, Hoskinson criticized Bitcoin for its lack of innovation and limited utility. He argued that Bitcoin’s primary value lies in its size and success, rather than in any new technological advancements.

Drawing comparisons to outdated platforms like Yahoo and MySpace, Hoskinson suggested that these brands failed over time due to their inability to adapt. He believes Bitcoin could face a similar decline if it remains inflexible.

Cardano’s Innovative Approach

Hoskinson highlighted Cardano’s ability to continuously adopt new technologies and expand its ecosystem. He envisions Cardano evolving beyond just another cryptocurrency, aiming to grow into a multi-trillion-dollar ecosystem by attracting more users and technologies from competitors.

“We’re trying to change the economic, political, and social systems of the world for everyone, everywhere,” the Cardano founder explained.

Hoskinson also stressed the crucial role of governance in the long-term success of a cryptocurrency project. He stated:

“Governance matters that much. It is really the core differentiator between whether a project is successful or a project will fail.”

The Chang Hard Fork and Future Prospects

Hoskinson pointed to the upcoming Chang hard fork as a milestone for Cardano. Part of Cardano’s Voltaire phase, this hard fork will introduce community-run governance, allowing ADA token holders to vote on proposals that benefit the network. Hoskinson predicted that with Chang, Cardano would have the “most advanced blockchain governance system.”

In related news, the decentralized derivatives platform Horizon Protocol has approved HIP-16, a proposal to list XRP, Cardano, and Chainlink. The trading and liquidity pool protocol announced plans for these new listings on Horizon Futures in a recent post.

Source